The Utssav Cz Gold Jewels IPO is a book-built issue worth Rs 69.50 crores, consisting entirely of a fresh issue of 63.18 lakh shares.
The IPO opens for subscription on July 31, 2024, and closes on August 2, 2024. The allotment is expected to be finalized on Monday, August 5, 2024, with the IPO listing on NSE SME on Wednesday, August 7, 2024.
The price band for the Utssav Cz Gold Jewels IPO is set at ₹104 to ₹110 per share. The minimum lot size for application is 1200 shares, requiring a minimum investment of ₹132,000 for retail investors. For HNIs, the minimum investment is 2 lots (2,400 shares), amounting to ₹264,000.
- Book Running Lead Manager – Choice Capital Advisors Pvt Ltd
- Registrar – Bigshare Services Pvt Ltd
- Market Maker – Choice Equity Broking
Below are the details of Utssav Cz Gold Jewels IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Utssav Cz Gold Jewels IPO 2024 Details
| IPO Date | July 31, 2024 to August 2, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹104 to ₹110 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,318,000 shares (aggregating up to ₹69.50 Cr) |
| Fresh Issue | 6,318,000 shares (aggregating up to ₹69.50 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,500,000 |
| Share holding post issue | 23,818,000 |
| Market Maker portion | 318,000 shares |
Utssav Cz Gold Jewels IPO 2024 Timeline
| IPO Open Date | Wednesday, July 31, 2024 |
| IPO Close Date | Friday, August 2, 2024 |
| Basis of Allotment | Monday, August 5, 2024 |
| Initiation of Refunds | Tuesday, August 6, 2024 |
| Credit of Shares to Demat | Tuesday, August 6, 2024 |
| Listing Date | Wednesday, August 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 2, 2024 |
Utssav Cz Gold Jewels IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹132,000 |
| Retail (Max) | 1 | 1200 | ₹132,000 |
| HNI (Min) | 2 | 2,400 | ₹264,000 |
Utssav Cz Gold Jewels IPO 2024 Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,800,000 (28.49%) |
| Market Maker Shares Offered | 318,000 (5.03%) |
| QIB Shares Offered | 1,200,000 (18.99%) |
| NII (HNI) Shares Offered | 900,000 (14.25%) |
| Retail Shares Offered | 2,100,000 (33.24%) |
| Total Shares Offered | 6,318,000 (100%) |
Utssav Cz Gold Jewels IPO Anchor Investors
| Information | Details |
|---|---|
| Bid Date | July 30, 2024 |
| Shares Offered | 1,800,000 |
| Anchor Portion Size (In Cr.) | 19.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 3, 2024 |
Utssav IPO Promoters
The promoters of the company are Mr. Pankajkumar H. Jagawat. Mr. Shashank Bhawarlal Jagawat and MR.Rakesh ShantiLal Jagawat.
Utssav Cz Gold Jewels IPO 2024 Financial Information
| Period Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,333.33 | 8,215.83 | 5,616.49 | 4,423.40 |
| Revenue | 27,733.20 | 23,971.52 | 12,342.53 | 12,030.66 |
| Profit After Tax | 1,073.76 | 714.96 | 333.95 | 161.87 |
| Net Worth | 3,311.00 | 2,237.24 | 1,509.33 | 1,175.38 |
| Reserves and Surplus | 2,891.00 | 1,817.24 | 1,089.33 | 755.38 |
| Total Borrowing | 7,703.16 | 4,966.02 | 3,601.97 | 3,016.08 |
| Amount in ₹ Lakhs | ||||
Utssav Cz Gold Jewels IPO Review
The company is involved in designing, manufacturing, wholesaling, and exporting 18K, 20K, and 22K CZ Gold jewelry, a highly competitive and fragmented market. Although the company has provided financial data up to January 31, 2024, the offer price is based on data from March 31, 2023. This suggests lapses in transparency by the LM/Company. One might question subscribing to an IPO lacking the latest information. In April 2024, the company issued a private placement at Rs. 82.50 per share, whereas the IPO price band is Rs. 104 – Rs. 110. It may be prudent to avoid this high-risk, low-return investment.
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