Fixed Price IPO | ₹5 Cr | Listed at BSE SME | Fri, Dec 23, 2016 - Wed, Dec 28, 2016
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Dec 23, 2016
IPO Close
Wed, Dec 28, 2016
Issue Price
₹45 per share
Market Cap (Pre-IPO)
₹19.40 Cr
| IPO Date | 23 to 28 Dec, 2016 |
| Listed on | Thu, Jan 5, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 11,37,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 57,000 shares Beeline Broking Ltd. (agg. up to ₹0.2565 Cr) |
| Fresh Issue (Ex Market Maker) | 10,80,000 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 10,80,000 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 31,73,015 shares |
| Share Holding Post Issue | 43,10,015 shares |
| BSE Script Code | 540252 |
| ISIN | INE607V01010 |
Veeram Ornaments IPO comprises a total issue size of 11,37,000 shares. The net offer to the public is 10,80,000 shares, after excluding 57,000 shares allotted on a firm basis. Of the Net offer 5,40,000 (50.00%) allocated to NII 5,40,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,40,000 | 50.00% | 47.49% |
| Retail Shares Offered | 5,40,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 57,000 | 5.01% | |
| Total Shares Offered | 11,37,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet additional Working Capital Requirements | |
| 2 | To Meet the Issue Expenses |
Sorry, we couldn't find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including underwriting and selling commissions, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, etc | 0.35 |
| 2 | Printing and Stationery and postage expenses | 0.03 |
| 3 | Advertising and Marketing expenses | 0.03 |
| 4 | Statutory and Other Expenses | 0.05 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹42.75 |
| Low | ₹42.75 |
| High | ₹46.00 |
| Last Trade | ₹46.00 |
Lead Manager Reports
Veeram Ornaments IPO is a SME IPO of 11,37,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Dec 23, 2016, and closes on Wed, Dec 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 Fri, Dec 23, 2016 and closes on Wed, Dec 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 Thu, Jan 5, 2017.
