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₹88 - 88
Grover Jewells Ltd
Diamond, Gems and JewelleryIPOSME
₹88 - 88
Our company specializes in the manufacturing and designing of a wide range of wholesale gold jewellery which includes finely crafted jewellery, comprising of gold chains, bangles, rings, necklaces, and complete sets, designed to meet the diverse preferences of our clientele. While our primary focus remains on the B2B segment, we are also undertaking initiatives to strengthen our presence and increase revenue in the B2C segment. In addition, we operate a job work segment, wherein small jewellers entrust us with gold and designs, and we transform them into finished jewellery.
Lot1,600Min Invest₹2,81,600Face Value₹10Issue Size₹34 CrFresh Issue₹34 CrListing Price₹96CMP₹356
Timeline
4 Feb
Bidding opens
6 Feb
Bidding closes
9 Feb
Allotment
10 Feb
Refund & demat credit
11 Feb
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹34 Cr0.38 Cr shares
Fresh Issue₹34 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 49.96% · NII 15.03% · RETAIL 35.01%
Application Sizes
Retail₹2,81,6001-1 lots
sNII₹2,81,600from 2 lots
bNII₹11,26,400from 8 lots
Managers & Registrar
Lead ManagerFinshore Management Services Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group99.98%73.48%Public0.02%26.52%
Objects of the Issue
- Working Capital Requirements
- General Corporate Expenses
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 255 | 258 | 461 | 824 |
| Operating ProfitCr | 4 | 5 | 11 | 30 |
| OPM% | 1.6 | 1.8 | 2.4 | 3.6 |
| PBTCr | 3 | 3 | 9 | 26 |
| PATCr | 3 | 3 | 8 | 21 |
| EPS | 3 | 3 | 7 | 11 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 3 | 3 | 3 | - |
| ReservesCr | 4 | 6 | 14 | - |
| BorrowingsCr | 4 | 4 | 9 | - |
| Total AssetsCr | 12 | 14 | 30 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 2 | 3 | 0 | -31 |
| Investing Cash FlowCr | -2 | -2 | -2 | -14 |
| Financing Cash FlowCr | 0 | 0 | 4 | 47 |
| Net Cash FlowCr | 0 | 0 | 2 | 2 |
Strengths & Risks
Strengths · as stated in the DRHP
- Established and proven track record.
- Leveraging the experience of our Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
Strategies · as stated in the DRHP
- Expansion of Production Capacity through Advanced Technology.
- Strengthening Presence in Southern India and International Market Expansion
- Strategic Expansion into the B2C Retail Segment
- Product Portfolio Diversification.
Risks · as stated in the DRHP
- The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
- The company's Registered Office and one of the company's Showroom are not owned by the company and the company has only leave and license rights over them. In the event the company loses such rights, the company's business, financial condition and results of operations, and cash flows could be adversely affected.
- The company's gold jewellery business faces risks from market volatility and changing customer preferences. Fluctuations in commodity prices like gold could impact the company's costs and profitability. Evolving customer tastes influence product demand, necessitating continuous adaptation, to remain competitive.
- The company's business is primarily concentrated in the central and northern part of India, especially around Delhi and its neighbouring states, i.e. Uttar Pradesh, Haryana and Uttarakhand and the company is significantly dependent on these states for revenue generation. Any adverse development affecting such states may have an adverse effect on the company's business, prospects, financial condition and results of operations.
- The company's inability to identify market trends, and customer demand accurately, counter the challenges that the industry faces and maintain an optimal level of inventory may impact its operations adversely.
- The company derives a significant portion of its revenue from the sale of chains and any reduction in demand or in the manufacturing of such product could have an adverse effect on the company's business, results of operations and financial condition.