Palm Jewels IPO

Palm Jewels IPO issue of 29,68,000 equity shares of face value of Rs. 10/- each (equity shares) of Palm Jewels Limited (the company or the issuer) for cash at a price Rs. 30/- per equity share (including a share premium of Rs. 20/- per equity share) (issue price) aggregating to Rs. 8.90 Crores (the issue size of Palm Jewels IPO), of which 1,52,000 equity shares of face value of Rs. 10/- each for a cash price ofRs. 30/- per equity share, aggregating to Rs.0.45 Crores will be reserved for subscription by market maker (market maker reservation portion). The Palm Jewels IPO issue less the market maker reservation portion i.e. Issue of 28,16,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 30 per equity share aggregating to Rs. 8.45 Crores (is hereinafter referred to as the net issue). The Palm Jewels IPO issue and the net issue will constitute 40.20 % and 38.14 %, respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each and the issue price of Rs. 30/- i.e. 3.0 times of the face value.

About Palm Jewels Limited

palm jewels ipo

Company is engaged in the wholesale business of gold jewellery. Company’s registered office and business of operation is based in Ahmedabad. Company essentially sell gold based chains, bracelets and necklaces. Company outsource the manufacturing of it’s jewellery through job workers based in Ahmedabad. The major raw material used for making it’s products is gold & silver. Company procure gold & silver majorly through the bullion market and partially from the local markets in Ahmedabad. Gold bars and other Necessary Material are provided to Job Workers Who are based either in Ahmedabad. However, no formal agreement has been executed with either of these job workers. The finished jewellery is sold by Company marketing and sales team directly to other jewellery stores. It’s jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.

palm jewels ipo

The Founder promoter of Company Mr. Rohit Dalpatbhai Shah is in the business of jwellery Industries since 20 years, he with his wife has incorporated Company Shilvi Jewels Private Limited on September 22, 2005 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli, Subsequently, the name of Company was changed to Palm Jewels Private Limited on October 28, 2016 under the companies Act, 2013 vide a new Certificate of incorporation issue by Registrar of Companies, Gujarat, Dadra and Nagar Havelli, then after company was converted in to a public limited company and consequently name was changed to “Palm Jewels Limited” (PJL) vide fresh certificate of incorporation dated February 21, 2018 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli. The CIN of the Company is U36910GJ2005PLC046809. Now company is expanding and making debut in equity market with Palm Jewels IPO.

About Palm Jewels IPO

IPO Size (In Cr.) Open Date Close Date Draft Prospectus
Palm Jewels IPO 8.90 25.05.2018 01.06.2018 DRHP
  • Lot Size: Minimum Application for 4000 shares of Rs. 30/- each with further multiples of 4000 shares
  • Allotment: 07-June-2018
  • Credit to demat accounts: 11-June-2018
  • Listing: 12-June-2018
  • Purpose of the issue: working capital requirement
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Palm Jewels IPO Registrar

Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Fax: +91-40-23311968

Palm Jewels IPO Lead Manager

First Overseas Capital Limited

Palm Jewels Limited Management

  • Managing Director- Mr. Rohit Dalpatbhai Shah
  • Wholetime Director- Mr. Saunil Rohitbhai Shah
  • Non Executive Director- Mrs. Chetna Rohitbhai Shah
  • Independent Director- Mr. Dilipkumar Satishbhai Shah
  • Independent Director- Mrs. Nidhi Jain

Palm Jewels Limited Contact Info

Palm Jewels Limited
G.F-37, Super Mall
Nr. Diamond, C. O. Hou. Soc. Ltd, Nr. Lal Bunglow
C. G. Road, Ahmedabad – 380001, Gujarat, India
Phone: +91 79 40052056

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