Shoora Designs IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Shoora Designs IPO will open on August 17 and close on August 21, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 2.03 crore through this public offering, consisting of 4.24 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 48 per share.
Shoora Designs Limited (“the Company”)
Shoora Designs Limited was incorporated in the year 2021 and was engaged in the business of ‘Textiles & Apparel and ‘Apparel & Accessories’. However, thereafter, in the following year, the object of the Company was amended to include the manufacturing and trading of diamonds and jewelry.
Since the year 2022, The Company has been engaged in the business of procuring rough diamonds through suppliers, internally planning and mapping rough diamonds, outsourcing the process of cleaving, laser cutting, and polishing to local job-workers in the domestic market of Surat, and selling the said polished cut diamonds to wholesalers or retailers with business concentration predominantly in Surat, Gujarat, and the newly-explored market of Mumbai, Maharashtra.
A substantial majority of its cut and polished diamonds are sold to diamond wholesalers and jewelry manufacturers in the domestic markets of Surat and Mumbai. The revenue from the sale of diamonds is generated through the offline market and its online platform.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 1.34 per Equity Share |
| ROE | 14.06% |
| ROCE | 9.89% |
| P/E (x) | 35.82 |
| Return on Net Worth (RoNW) | 7.22% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding the working capital requirements of the company, and
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 158.59 | 4.41 | 0.51 |
| Total Assets | 168.99 | 15.03 | 0.75 |
| Reserve & Surplus | 51.02 | 3.41 | (0.50) |
| Total Borrowings | 0.30 | – | – |
| Total Revenue | 210.61 | 16.26 | – |
| Profit After Tax | 11.46 | 3.91 | (0.50) |
IPO details
As per the DRHP filed with SEBI, 4.24 lakh shares will be offered as a fresh issue in the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 0.27 lakh shares of the offering. While Swaraj Shares and Securities Private Limited will be the lead manager for the IPO, KFIN Technologies Limited will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 48 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 shares |
| Issue Size | 424,000 shares (aggregating up to ₹ 2.03 crores) |
| Fresh Issue | 424,000 shares (aggregating up to ₹ 2.03 crores) |
| Listing At | BSE SME |
Market Maker detail
| Market maker | Rikhav Securities |
| Market maker portion | 27,000 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| Other shares offered | 50% of the offer |
| Retail shares offered | Not less than 50.00% of the Offer |
GMP: Shoora Designs IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Shoora Designs IPO
The issue opens for subscription on August 17, 2023, and closes for subscription on August 21, 2023 (both days inclusive). The basis of allotment will be finalised on August 24, 2023, and the refunds will be initiated on August 25, 2023. In addition, the demat credits are expected to happen on August 28, 2023, and the stock will be listed on the BSE SME on August 29, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | August 17, 2023, |
| Closing Date | August 21, 2023 |
| Basis of Allotment | August 24, 2023 |
| Initiation of Refunds | August 25, 2023 |
| A credit of shares to Demat A/c | August 28, 2023 |
| Listing Date | August 29, 2023 |
Lot Size
The lot size of the Shoora Designs IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 144,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 144,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 144,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 288,000 |
Promoters Holdings
Mr. Satish K Kansodariya, Mrs. Sejalben Satish Kansodariya, and Mr. Rajeshbhai Labhubhai Mer are the promoters of the company.
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | 71.77% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Shoora Designs Limited Diamond Apartments Co-op Housing Society, LT H No. 7/3388/A, 6th floor,C/1, 601, Haththupura char rasta, Surat – 395003 Phone: +91 9004746705 Email: compliance@shooradesigns.com Website: https://www.shooradesigns.com/ |
| IPO Registrar | KFIN Technologies Limited Phone: 04067162222, 04079611000 Email: shooradesigns.ipo@kfintech.com Website: https://kosmic.kfintech.com/ |
| IPO Lead Manager(s) | Swaraj Shares and Securities Private Limited |
FAQs
What is Shoora Designs’s IPO price?
The Shoora Designs IPO price is ₹ 48 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Shoora Designs IPO contains 3,000 shares of ₹ 144,000.
When will the Shoora Designs IPO allotment be available?
The finalisation of the basis of allotment for the Shoora Designs IPO will be done on August 24, 2023, and the allotted shares will be credited to your demat account by August 28, 2023. Check the Shoora Designs IPO allotment status.
When will the Shoora Designs IPO list on exchanges?
The Shoora Designs IPO shares listing date is August 29, 2023.
