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Shoora Designs IPO GMP, Price, Dates & Allotment Details 2023

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
ROE14.06%
ROCE9.89%
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:

  1. Funding the working capital requirements of the company, and
  2. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth158.594.410.51
Total Assets168.9915.030.75
Reserve & Surplus51.023.41(0.50)
Total Borrowings0.30
Total Revenue210.6116.26
Profit After Tax11.463.91(0.50)
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 48 per share
Face Value₹ 10 per share
Market Lot3,000 shares
Issue Size424,000 shares (aggregating up to ₹ 2.03 crores)
Fresh Issue424,000 shares (aggregating up to ₹ 2.03 crores)
Listing AtBSE SME

Market Maker detail

Market makerRikhav Securities
Market maker portion27,000 shares

IPO Reservation

CategoriesNo. of shares offered
Other shares offered50% of the offer
Retail shares offeredNot 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 DateAugust 17, 2023,
Closing DateAugust 21, 2023
Basis of AllotmentAugust 24, 2023
Initiation of RefundsAugust 25, 2023
A credit of shares to Demat A/cAugust 28, 2023
Listing DateAugust 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.

ApplicationsLotsSharesAmount
Retail (Minimum)13,000₹ 144,000
Retail (Maximum)13,000₹ 144,000
HNI (Minimum)26,000₹ 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 Holdings100%
Post-issue Shares Holdings71.77%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationShoora 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: [email protected]
Website: https://www.shooradesigns.com/
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/
IPO Lead Manager(s)Swaraj Shares and Securities Private Limited

FAQs

The Shoora Designs IPO price is ₹ 48 per share.

The minimum investment size is one lot for retail investors. One lot of the Shoora Designs IPO contains 3,000 shares of ₹ 144,000.

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.

The Shoora Designs IPO shares listing date is August 29, 2023.

Click here for more FAQs.

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