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Sonam Clock IPO is a fixed price issue of ₹10.11 crores. The issue is entirely a fresh issue of 0.28 crore shares of ₹10.11 crore.
Sonam Clock IPO bidding started from Jun 1, 2018 and ended on Jun 6, 2018. The shares got listed on NSE SME on Jun 14, 2018.
Sonam Clock IPO price is ₹36.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,16,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Hem Finlease Pvt.Ltd..
Refer to Sonam Clock IPO RHP for detailed Information.
| IPO Date | June 1, 2018 to June 6, 2018 |
| Listing Date | June 14, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 28,08,000 shares (aggregating up to ₹10.11 Cr) |
| Reserved for Market Maker | 1,44,000 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹0.5184 Cr) |
| Net Offered to Public | 26,64,000 shares (aggregating up to ₹9.59 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 72,00,000 shares |
| Share Holding Post Issue | 1,00,08,000 shares |
Sonam Clock IPO offers total 28,08,000 shares. Out of which 13,32,000 (47.44%) allocated to NII, 13,32,000 (47.44%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,44,000 (5.13%) |
| NII (HNI) Shares Offered | 13,32,000 (47.44%) |
| Retail Shares Offered | 13,32,000 (47.44%) |
| Total Shares Offered | 28,08,000 (100.00%) |
Sonam Clock IPO opens on June 1, 2018, and closes on June 6, 2018.
| IPO Open Date | Fri, Jun 1, 2018 |
| IPO Close Date | Wed, Jun 6, 2018 |
| Tentative Listing Date | Thu, Jun 14, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jun 6, 2018 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Incorporated in 2001, Gujarat based Sonam Clock Limited is a company engaged in clock manufacturing. The company offers a wide range of table and wall clocks at various price points across the budget, mid-level and premium styles. As on February'18, it is offering LED digital clocks, LCD clocks, light sensor clocks, pendulum clocks, musical clocks, rotating pendulum musical clocks, sweep clocks, office clocks, designer clocks, alarm clocks, table clocks and regular clocks.
Sonam also offers customized corporate clocks in bulk quantities for corporate gifting purpose. The products are sold mainly to clock dealers, retailers, corporates, gifts and novelties stores, through which it reaches to the end-consumers. The products are sold under the brand name of Sonam, ampm, and Lotus. In F.Y. 2016-17, the net revenue from operations comprised of Rs. 3792.85 lakhs of with approximately 40% comprised of export sales to Middle - East countries such as Dubai and Iraq. The company's Manufacturing facility is located in Morbi, Gujarat and has at present installed production capacity of approximately 72 lakhs p.a. for clocks and 240 lakhs p.a. for clock movements. It is also engaged in the sale of clock parts which includes clock movements, clock cases etc.
The Company has employed 304 permanent full-time employees (including senior Management) at various levels of the Organization.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 3,493.92 | 3,416.94 | 2,852.49 | 3,007.50 | 2,713.59 | |
| Total Revenue | 3,903.16 | 3,682.35 | 3,405.67 | 3,355.35 | 3,371.47 | |
| Profit After Tax | 80.70 | 268.11 | 40.99 | 57.52 | 45.53 | |
The Company Sonam Clock IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding the Working Capital Requirements of the Company | 5.10 |
| 2 | Repayment of Unsecured Loan availed by our Company | 2.00 |
| 3 | To meet General Corporate Expenses | 2.33 |
[Dilip Davda] <p>Although on the prima facie issue pricing appears reasonable, concern over sustainability of its super profits of first nine months of FY18 and its listed peer reporting losses for FY17 and having no trades for over two months hints at caution. Considering these cash surplus risk savvy investors may consider investment at their own risk.</p> Read detail review...
| Listing Date | June 14, 2018 |
| BSE Script Code | |
| NSE Symbol | SONAMLTD |
| ISIN | INE00LM01011 |
| Final Issue Price | ₹36 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹37.00 |
| Low | ₹36.75 |
| High | ₹37.50 |
| Last Trade | ₹36.95 |
Sonam Clock Ltd.
Survey No. 337/p, Morbi Rajkot Highway,
Village Lajai,
Taluka Tankara,
Morbi, Gujarat, 363641
Phone: +91-2822-285017
Email: info@sonamquartz.com
Website: http://www.sonamquartz.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Sonam Clock IPO is a SME IPO of 28,08,000 equity shares of the face value of ₹10 aggregating up to ₹10.11 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on June 1, 2018, and closes on June 6, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sonam Clock IPO using UPI as a payment gateway. Zerodha customers can apply in Sonam Clock IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sonam Clock IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sonam Clock IPO opens on June 1, 2018 and closes on June 6, 2018.
Sonam Clock IPO lot size is 3000, and the minimum amount required for application is ₹1,08,000.
You can apply in Sonam Clock IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sonam Clock IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Sonam Clock IPO allotment status.
The Sonam Clock IPO listing date is on Thursday, June 14, 2018.
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