Khazanchi Jewellers Limited IPO : Key Dates

Khazanchi Jewellers Limited IPO is set to launch on 24 July 2023. The company initiated its business operations in 1996. The company as the name suggests is indulged in the jewellery business and is a well known name as well in the wholesale as well as retail business. The company’s product portfolio includes Diamond and Gold jewellery, Other fancy jewelleries, precious stones etc. It also deals in bullion markets in the form of bars and coins. It has one showroom located in Chennai. The company wants to expand its presence for which the IPO money is being raised.

Khazanchi Jewellers Limited IPO DETAILS

Khazanchi Jewellers Limited IPO is set to launch on 24 July, 2023. The subscription timeline extends till 28 July, 2023. The size for the IPO is 96.74 Crore Rs. Shares issued through fresh issue mode are worth 96.74 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 1000 shares and the price is 140 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Fixed price issue. The registrar for the company is Cameo Corporate Services Limited.

Tabular Description of Khazanchi Jewellers Limited IPO 

Khazanchi Jewellers Limited IPO : IMPORTANT DATES

Khazanchi Jewellers Limited IPO begins for subscription from 24 July 2023. The IPO subscription would continue till 28 July, 2023. The allotment status for the shareholders who applied would come on 2 August, 2023. The refunds for the ones who did not get allotment would be initiated on 3 August, 2023. The DEMAT accounts of shareholders would be credited on 4 August, 2023. The listing of the company would be completed on 7 August, 2023.

Khazanchi Jewellers Limited IPO : Lead Managers

The lead managers are :

• Mark Corporate Advisors Private Limited

The minimum lot size for the company is decided at 1000 shares. This holding accounts to 140000 Rs.. The maximum lot size is decided at 2000 shares (HNI). This amounts to 280000 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.
• The money will also be utilised for opening new stores in Chennai.

COMPANY FINANCIALS

Khazanchi Jewellers Limited had an asset base of 11319 Lakh Rs in 2021. This went up to 12436 Lakh Rs in 2022 and the assets in the year 2023 increased to 14506 Lakh Rs. Hence there is a stable and steady increase in the asset base of the firm. The revenue of the firm has been a bit dicey based on the COVID situation. The revenue of the firm was 38242 Lakh Rs in 2021 which decreased to 25799 Lakh Rs in 2022. However in 2023 the revenue bounced back to 48181 Lakh Rs. The profit of the firm has increased consistently from 275 Lakh Rs in 2021 to 326 Lakh Rs in 2022 and 756 Lakh Rs in 2023.

PROS

• The company’s product portfolio includes Diamond and Gold jewellery, Other fancy jewelleries, precious stones etc.
• It also deals in bullion markets in the form of bars and coins. It has one showroom located in Chennai. 
• The company wants to expand its presence for which the IPO money is being raised.

CONS

• The company works in a highly competitive segment.

Khazanchi Jewellers Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1.   Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2.   Click the Khazanchi Jewellers Limited IPO button and press the BID button.
3.   Entering the details asked for like UPI ID, Quantity and price.
4.   Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.