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Veeram Ornaments IPO is a fixed price issue of ₹5.12 crores. The issue is entirely a fresh issue of 0.11 crore shares of ₹5.12 crore.
Veeram Ornaments IPO bidding started from Dec 23, 2016 and ended on Dec 28, 2016. The shares got listed on BSE SME on Jan 5, 2017.
Veeram Ornaments IPO price is ₹45.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,35,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,70,000.
Gretex Corporate Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Veeram Ornaments IPO RHP for detailed Information.
| IPO Date | December 23, 2016 to December 28, 2016 |
| Listing Date | January 5, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 11,37,000 shares (aggregating up to ₹5.12 Cr) |
| Reserved for Market Maker | 57,000 shares Beeline Broking Ltd. (aggregating up to ₹0.2565 Cr) |
| Net Offered to Public | 10,80,000 shares (aggregating up to ₹4.86 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 31,73,015 shares |
| Share Holding Post Issue | 43,10,015 shares |
Veeram Ornaments IPO offers total 11,37,000 shares. Out of which 5,40,000 (47.49%) allocated to NII, 5,40,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 57,000 (5.01%) |
| NII (HNI) Shares Offered | 5,40,000 (47.49%) |
| Retail Shares Offered | 5,40,000 (47.49%) |
| Total Shares Offered | 11,37,000 (100.00%) |
Veeram Ornaments IPO opens on December 23, 2016, and closes on December 28, 2016.
| IPO Open Date | Fri, Dec 23, 2016 |
| IPO Close Date | Wed, Dec 28, 2016 |
| Tentative Listing Date | Thu, Jan 5, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 28, 2016 |
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 | ₹1,35,000 |
| Retail (Max) | 1 | 3,000 | ₹1,35,000 |
| HNI (Min) | 2 | 6,000 | ₹2,70,000 |
Incorporated in 2011, Veeram Ornaments Limited is engaged in the design, manufacture, and wholesaler of jewellery and ornaments. It provides gold and silver jewellery products, including rings, bracelets, necklaces, ear chains, earrings, pendants, chains, mangalsutras, zudas, toe rings, anklets, bangles, etc. with or without studded precious and semi-precious stones. The company sells its products to jewellery retailers in Ahmedabad.
They are also into trading business of silver and distributor of readymade gold & silver Jewellery & Ornaments. Gold & silver traditional jewellery & ornaments are either made with kundan, gem stones, American diamonds etc or just plain gold or silver. They buy their raw materials from Rajkot & local markets in Ahmedabad. Raw Silver and Raw gold is generally purchased from the bullion market which is then designed and molded into gold and silver traditional & modern jewellery. Other raw material like kundan, gems stones, American diamonds etc is purchased from their suppliers.
The Company Veeram Ornaments 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 | To meet additional Working Capital Requirements | |
| 2 | To Meet the Issue Expenses |
[Dilip Davda] Risk avers cash surplus investors may consider for long term investment. Read detail review...
| Listing Date | January 5, 2017 |
| BSE Script Code | 540252 |
| NSE Symbol | |
| ISIN | INE607V01010 |
| Final Issue Price | ₹45 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹42.75 |
| Low | ₹42.75 |
| High | ₹46.00 |
| Last Trade | ₹46.00 |
Veeram Ornaments Ltd.
Shop No. 2
Naroda Pride,
Nr. Padmavati Society,
Ahmedabad, Gujarat, 382350
Phone: +91-9925266150
Email: info@veeramornaments.com
Website: http://www.veeramornaments.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Veeram Ornaments IPO is a SME IPO of 11,37,000 equity shares of the face value of ₹10 aggregating up to ₹5.12 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000.
The IPO opens on December 23, 2016, and closes on December 28, 2016.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Veeram Ornaments IPO using UPI as a payment gateway. Zerodha customers can apply in Veeram Ornaments IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veeram Ornaments IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veeram Ornaments IPO opens on December 23, 2016 and closes on December 28, 2016.
Veeram Ornaments IPO lot size is 3000, and the minimum amount required for application is ₹1,35,000.
You can apply in Veeram Ornaments 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 Veeram Ornaments IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Veeram Ornaments IPO allotment status.
The Veeram Ornaments IPO listing date is on Thursday, January 5, 2017.
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