Shoora Designs Limited IPO is set to launch on 17 August, 2023. The company initiated its business operations in the year 2021. The company is involved in manufacturing and designing diamonds and jewellery. Shoora Designs Limited is focused on manufacturing natural lab grown diamonds. It procures diamonds through suppliers and outsources the further job work process in Surat. The client base of the company is located in Surat and Mumbai. Its business is also functioning in online form.
Shoora Designs Limited IPO DETAILS
Shoora Designs Limited IPO is set to launch on 17 August, 2023. The subscription timeline extends till 21 August, 2023. The size for the IPO is 2.03 Crore Rs. Shares issued through fresh issue mode are worth 2.03 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 3000 shares and the price is 48 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 KFin Technologies Private Limited.
Tabular Description of Shoora Designs Limited IPO
IPO OPENING DATE | 17 August, 2023 |
CLOSING DATE FOR IPO | 21 August, 2023 |
ISSUE TYPE | Fixed Price Issue |
Face Value per share | 10 Rs. per share |
IPO price band | 48 Rs per share |
LOT SIZE | 3000 shares |
MINIMUM ORDER QUANTITY | 3000 shares |
ISSUE SIZE | 2.03 Crore Rs. |
OFFER FOR SALE | No share offered through Offer for sale mode |
FRESH ISSUE | 2.03 Crore Rs. |
LISTING AT | BSE SME |
LISTING DATE | 29 August, 2023 |
Shoora Designs Limited IPO : IMPORTANT DATES
IPO OPENING DATE | 17 August, 2023 |
CLOSING DATE FOR IPO | 21 August, 2023 |
IPO ALLOTMENT DATE | 24 August, 2023 |
REFUNDS | 25 August, 2023 |
DEMAT A/C CREDITED ON | 28 August, 2023 |
IPO LISTING DATE | 29 August, 2023 |
Shoora Designs Limited IPO begins for subscription from 17 August, 2023. The IPO subscription would continue till 21 August, 2023. The allotment status for the shareholders who applied would come on 24 August, 2023. The refunds for the ones who did not get allotment would be initiated on 25 August, 2023. The DEMAT accounts of shareholders would be credited on 28 August, 2023. The listing of the company would be completed on 29 August, 2023.
Shoora Designs Limited IPO : Lead Managers
The lead managers are :
- Swaraj Shares and Securities Private Limited
The minimum lot size for the company is decided at 3000 shares. This holding accounts to 144000 Rs.. The maximum lot size is decided at 6000 shares (HNI). This amounts to 288000 Rs.. Hence the company’s final holdings would be set as :
Shares | Amount | |
Minimum | 3000 shares | 144000 Rs. |
Maximum | 6000 shares | 288000 Rs. |
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.
COMPANY FINANCIALS
Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
ASSETS | 0.75 | 15.03 | 168.99 |
Revenue | – | 16.26 | 210 |
PAT | -0.50 | 3.91 | 11.46 |
Shora Designs Limited had an asset base of 75 thousand Rs in the year 2021. The asset base of the company increased rapidly in the first three years itself in terms of percentage. The assets in the next year were at 15.03 Lakh Rs and this went on to 168.99 Lakh Rs. Hence the asset increased by 168.49 Lakh Rs in 3 years. The revenue of the firm was 16.26 Lakh Rs in the year 2022 which increased to 210 Lakh Rs in the year 2023. The profit of the company was recorded at 3.91 Lakh Rs in the year 2022. However before that in the year 2021 the company recorded a loss of 50 thousand Rs. But the company’s profit has grown in terms of percentage at a huge margin. The profit increased to 11.46 Lakh Rs in the year 2023.
PROS
- Shoora Designs Limited is focused on manufacturing natural lab grown diamonds.
- It procures diamonds through suppliers and outsources the further job work process in Surat.
- The client base of the company is located in Surat and Mumbai.
- Its business is also functioning in online form.
CONS
- The company works in a highly competitive segment.
Shoora Designs 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 :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Shoora Designs Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- 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.