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Bhakti Gems and Jewellery Ltd IPO (Bhakti Gems and Jewellery IPO) Detail

May 17, 2017 - May 22, 2017

Bhakti Gems and Jewellery IPO is a fixed price issue of Rs 3.92 crores.

Bhakti Gems and Jewellery IPO bidding started from May 17, 2017 and ended on May 22, 2017. The shares got listed on BSE SME on May 30, 2017.

Bhakti Gems and Jewellery IPO price is ₹20 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹120,000.

Oneview Corporate Advisors Pvt. Ltd. is the book running lead manager of the Bhakti Gems and Jewellery IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.

Refer to Bhakti Gems and Jewellery IPO RHP for detailed information.

Bhakti Gems and Jewellery IPO Details

IPO Date May 17, 2017 to May 22, 2017
Listing Date May 30, 2017
Face Value ₹10 per share
Price ₹20 per share
Lot Size 6000 Shares
Total Issue Size1,962,000 shares
(aggregating up to ₹3.92 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Share holding pre issue4,851,800
Share holding post issue6,813,800

Bhakti Gems and Jewellery IPO Lot Size

Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 6000 ₹120,000
Retail (Max) 1 6000 ₹120,000
Lot Size Calculator

About Bhakti Gems and Jewellery Ltd

Incorporated in 2010, Bhakti Gems and Jewellery Ltd (BGJ) is the manufacturer, wholesaler and supplier of gold jewellery and has its headquartered at Ahmedabad, Gujarat. Company mainly focuses on traditional Indian jewellery.

Company's product range includes handmade gold jewellery studded with precious and semi precious stones such as diamond, ruby, cubic zirconia (cz) etc. The jewelleries are designed by it and manufactured on job work basis at Ahmedabad, Rajkot and Mumbai. BGJ is a customer-centric Company; with a prime focus on attain the utmost client satisfaction by offering them quality assured products. Company's major customers includes Kalyan Jewellers India Ltd, Soni Dwarksdas Virchand, Ghanshyam Jewellers etc.

Objects of the Issue (Bhakti Gems and Jewellery IPO Objectives)

The object of the issue are to:

1. Funding working capital requirements of the Company;
2. Issue Expenses.

Bhakti Gems and Jewellery IPO Review (May apply)

[Dilip Davda]  As the issue is fully priced, risk savvy cash surplus investors may consider investment for long term. Read detail review...


Bhakti Gems and Jewellery IPO Subscription Status (Bidding Detail)

The Bhakti Gems and Jewellery IPO is subscribed times on May 22, 2017 5:00:00 PM. The public issue subscribed times in the retail category, times in the QIB category, and times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Bhakti Gems and Jewellery IPO Prospectus

Bhakti Gems and Jewellery IPO Rating

71
3.3
Rating:Rated 3.3 stars
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Bhakti Gems and Jewellery IPO Listing Details

Listing Date May 30, 2017
BSE Script Code 540545
NSE Symbol
ISIN INE986W01016
Final Issue Price ₹20 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹20.00
₹18.70
₹18.50
₹20.35
₹20.05

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Bhakti Gems and Jewellery Ltd Contact Details

Bhakti Gems and Jewellery Ltd
209, Shree Balaji Paragon,
B/S Rock Regency Hotel,
Opp Axis Bank, C. G Road, Ahmedabad
Phone: +91 7926421701
Email: compliancebhakti@gmail.com
Website: http://www.bhaktijewellery.com

Bhakti Gems and Jewellery IPO Registrar

Skyline Financial Services Private Ltd

Phone: 02228511022
Email: grievances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php

Bhakti Gems and Jewellery IPO - Buy or Not

Bhakti Gems and Jewellery IPO Recommendation Summary

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Bhakti Gems and Jewellery IPO FAQs

Bhakti Gems and Jewellery IPO is a SME IPO of 1,962,000 equity shares of the face value of ₹10 aggregating up to ₹3.92 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000 Shares.

The IPO opens on May 17, 2017, and closes on May 22, 2017.

Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The Bhakti Gems and Jewellery IPO opens on May 17, 2017 and closes on May 22, 2017.

Bhakti Gems and Jewellery IPO lot size is 6000 Shares, and the minimum amount required is ₹120,000.

You can apply in Bhakti Gems and Jewellery IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Bhakti Gems and Jewellery IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Bhakti Gems and Jewellery IPO allotment status.

The Bhakti Gems and Jewellery IPO listing date is on May 30, 2017.
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Bhakti Gems and Jewellery IPO Message Board

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52 Comments

31. NRI Investor |   Link |  Bookmark |July 12, 2017 3:11:46 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
BTST Today.. Tomorrow Sell 700+

Enjoy..
30. Dhiren Lapsi |   Link |  Bookmark |May 31, 2017 3:01:22 PM
The company might not be very lucrative as of this moment as it had a very moderate run in the past few years and is still trying to capture market share. This might be the reason why it came out with an IPO. The promoters of this company have been in this business for more than 18 years and in this time, they have acquired all the knowledge and expertise to make this company a highly profitable one. I think it is the right time to invest in this company because in a span of 2-3 years this company should give good returns & will multiply the wealth of its stakeholders.
29. Prabhakaran Kuppusamy |   Link |  Bookmark |May 30, 2017 3:10:33 PM (400+ Posts, 300+ Likes)
Investors should leave this counter today.
This could trade well at discount within a week.
I''m sure that, the potential upside is negligible - but downside is too deep (bottomless pit).
28. Pinank Mehta |   Link |  Bookmark |May 26, 2017 7:03:00 PM
Allotment Out!!!
28.1. Kumat |   Link |  Bookmark |May 26, 2017 7:15:59 PM
PLZ GIVE LINK TO CHECK
27. Kumat |   Link |  Bookmark |May 24, 2017 4:33:50 PM
Hello

I had applied One lot in Bhakti Gems and Jewellery Ltd IPO through ABSA
Plz advice If I can withdraw my application today itself
is it possible

27.1. Kumat |   Link |  Bookmark |May 26, 2017 3:25:58 PM
Hi

Is their is any information about what is allotment and listing date of Bhakti Gems

Thanks
26. IPOANALYSIS |   Link |  Bookmark |May 23, 2017 5:58:44 PM
People should look buying opportunities from secondary market. Also some SME are available at reasonable valuation in secondary market.
why going on fundamentally weak companies only for listing gain is bad.If you get stuck in bad fundamental scrips the money is stuck forever.
25. Prabhakaran Kuppusamy |   Link |  Bookmark |May 23, 2017 3:33:44 PM (400+ Posts, 300+ Likes)
Final subscription for Bhakti is 1.9755 times.
BSE website wrongly says as 2.67.
Usually for all BSE-SME IPOs, the bids on Cut-off price is summed up twice by them.
Here is an example (by comparing the figures of KMS Medisurgi Ltd).
As per BSE website (at http://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=1317&type=FPO&idtype=2&status=H&IPONo=3385&startdt=4/12/2017), total bids are 2524k (1900k bids at 30INR + 624k bids at cut-off).
Now Look at BOA at http://cmlinks.com/pub/ba/bashow.asp?code=69481 which clearly says that total bids received are 1900k bids (which clearly suggests that cut-off bids are counted twice).
You can do the same thing for other BSE SME IPOs too (RMC Switchgears, Chemcrux Enterprises Ltd, Meera Industries, etc.,)
24. Prabhakaran Kuppusamy |   Link |  Bookmark |May 22, 2017 3:23:05 PM (400+ Posts, 300+ Likes)
Bhakti got subscribed 1.599 times so far (at 5/22/2017 2:10:57 PM). I don''t think it''s going to exceed 2x subscription.
Last month Pure Giftcarat got subscribed (finally) 1.459 times.
24.1. Dharmil.Shah |   Link |  Bookmark |May 22, 2017 5:31:26 PM
Till now the total Subscription is above 2.5 times as per BSE Bid Details
23. SGJS |   Link |  Bookmark |May 20, 2017 1:28:45 PM
what eagleye has to say about Bhakti Gems
22. Prabhakaran Kuppusamy |   Link |  Bookmark |May 19, 2017 12:49:54 PM (400+ Posts, 300+ Likes)
MY WILD UNTRUE/IMAGINATION:
My wild guess is that, Sometimes (some companies) add some of the operating expenses only at the end of the year (example arrears payment or incentive to employees, etc.,).
Maybe, Bhakti is also doing something similar (just to justify the pricing - based on current fiscal numbers).
Example, out of 49 lakh net-profit so far (in 11 months), 48 lakh might be the arrears or incentive to it''s employees.
Therefore, it''s net-profit for whole year might again become 1 lakh at the end of this fiscal (once these operating expenses were deducted).
If we know any employees from Bhakti, we can get clear picture.
For now, I will wait for another fiscal (or atleast till final figures for current fiscal) numbers to be published.
Anyway, I feel that Vadivarhe Speciality Chemicals Limited is worth looking at.
21. Dharmil.Shah |   Link |  Bookmark |May 16, 2017 1:43:24 PM
The Following points attract me to invest in the IPO of BHAKTI GEMS AND JEWELLERY LIMITED.

1. Better quality : The Company strives to create works of art that are true to nature, maintain the aesthetic value and follow strict procedures to ensure high quality standards.

2. High customer satisfaction : The Company provide customized solution to their customers keeping in mind their precise requirements. It has client base like Kalyan Jewellers and Joyallukas Jewellers.

3. Experience of promoters : The promoters have an experience of more than 20 years in this business.

4. Timeless designs : The Company has a in house designing facility which produces works of art quite often. We pride ourselves on our designing capabilities.

5. Issue Price : issue Price of share is very very low compared to its book value and P/E ratio.
21.1. Futurze Avenue |   Link |  Bookmark |May 16, 2017 2:55:24 PM
Is Dharmil Shah from Rajkot?
21.2. TOPS |   Link |  Bookmark |May 18, 2017 8:01:50 PM
Dheamil shah

You are talking everything & anything of Bhakti except financials of 10 mths ending 31/01/2017 which is eye opener
INVESTOR ARE MORE WORRIED ABOUT FIGURES OF 2016_2017

Pl through some light on that if you can , how management see future of the will this sustain in future because previou 4 years NP IS STAGNANT @ only 1 lakh

20. Prabhakaran Kuppusamy |   Link |  Bookmark |May 18, 2017 1:37:49 PM (400+ Posts, 300+ Likes)
Hi Dharmil.Shah,
1. Being an insider of the company (:-P) you must be knowing that even though Bhakti is manufacturer, wholesaler and supplier of gold jewelry, they are only selling designs to Kalyan Jewellers and Joyalukkas.
It is never directly written in RHP that they manufacture jewel for these big names.
It''s another way of deceiving investors.
2. Can you say why cash-flow is negative? Doesn''t it mean that neither the company nor its promoters are trusting the future growth of the company?
3. Eventhough sales for last 5 years remains same (5% here and there), how come the net-profit rose by 50 times (or 5000%) within 11 months of this fiscal? Just read the transcript of MD of Shilpi Cable Technologies (at http://www.moneycontrol.com/news/business/companies/the-stock-which-fell-74-in-one-month-heres-what-management-has-to-say-2280783.html) you''ll know what I mean.
Can''t you feel that something is fishy?
None of the checks are showing the signs of investment in this IPO (except its book-value which is very attractive).
So its 3 negatives VERSUS 1 positive.
20.1. TOPS |   Link |  Bookmark |May 18, 2017 6:09:32 PM
Prabhakaran

Your analysis is quite right figures for fy 2016_2017 are something hard to believe

WHAT SEBI IS DOING TO PROTECT SMALL INVESTOR
19. Prabhakaran Kuppusamy |   Link |  Bookmark |May 13, 2017 8:51:44 PM (400+ Posts, 300+ Likes)
Current fiscal numbers are looking cooked up.
Sudden increase in bottomline and net increased from 0.01 to 0.49 crore.
Even though there are no listed peers, Pure Giftcarat Ltd can be taken into account (which is the only SME closer to this).
Based on PE, Bhakti is fine - but it''s price/book ratio looks expensive. D/E is almost 1.
So I won''t be a buyer just based on one fiscal''s net or sales.
Would wait to see another fiscal numbers before investing here.
19.2. Prabhakaran Kuppusamy |   Link |  Bookmark |May 18, 2017 12:10:19 PM (400+ Posts, 300+ Likes)
This share could be another "Shilpi cables".
Because there is no justification about how the profit grew suddenly from 1 lakh to 49 lakh.
Another thing about client-base, please check whether they are selling design (only) to Kalyan Jewellers and Joyalukkas or they are selling Gems and Jewels to them.
Instead of misleadingly naming this company as "Bhakti Gems and Jewellery Ltd" they should have named as "Bhakti Gems and Jewellery Designers Ltd".
I guess there is lot of difference between a Jewellery dealer and designer (I''m a novice in Jewel - so please help me here).
19.3. Dharmil.Shah |   Link |  Bookmark |May 18, 2017 12:36:12 PM
Dear Sir @Prabhakaran kuppusamy It Seen From the prospectous they are Manufacuture jewellery for the Kalyan Jewellers and Joylalukas and they also wholesaler and Supplier of gold jewellery
18. anishkumarAN |   Link |  Bookmark |May 18, 2017 12:21:34 PM
Just Look at the biding details its been 62.71% Subscribe on its first Day
http://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=1340&type=FPO&idtype=1&status=L&IPONo=3413&startdt=5%2f17%2f2017
18.1. Dharmil.Shah |   Link |  Bookmark |May 18, 2017 12:25:52 PM
@anishkumarAN correct
17. LatestNews |   Link |  Bookmark |May 16, 2017 7:14:32 PM
Very surprising to see smart investment.in promoting this one. Meera was another one promoted by them. Something fishy? Guiness has never been a rewarding experience. Nor has been a jewellery listing. How cannot it not have a peer? Radhika jeweltech?I would advise to stay away.can look.at performance after listing as I believe it won''t fly off the shelves on listing.
16. Cs Dhaval Patel |   Link |  Bookmark |May 12, 2017 1:57:51 PM
It Is A heaven place for investor and its gona multibagger stock at present. The issue price is very low. short term target would be 28-30. MUST BUY AT this price......
16.7. Prabhakaran Kuppusamy |   Link |  Bookmark |May 14, 2017 1:19:13 AM (400+ Posts, 300+ Likes)
Hi Dhaval,
Is it multi-bagger or multi-beggar? :-P
Please correct the typo in your post. :-D
16.8. Dharmil.Shah |   Link |  Bookmark |May 16, 2017 1:33:35 PM
I think it may not be Multi-bagger or Multi-beggar. There is firmst Gems and gold Jewellery business company going to list on SME platform. so no peer comparision is available. and I think P/E of 25 is good for this industry. Book value is Rs. 14 and company is cuming up with ipo @ price of Rs. 20.

I think one should invest in stock for better return.
15. PearlRohit |   Link |  Bookmark |May 13, 2017 3:46:20 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
TURNOVER IS VERY VERY LAW
NET PROFIT IS VERY VERY VERY LAW
MERCHANT BANKER - PREVIOUS SME IPO TRADE RECORD VERY BAD
AVOID THIS SME IPO
15.1. Dharmil.Shah |   Link |  Bookmark |May 16, 2017 1:20:19 PM
The One Should always look at the current Financials results while investing in Market. And i think if investors will stay invested in stock then it will be benefited to shareholders and company as well.
14. sundervan |   Link |  Bookmark |May 13, 2017 12:27:52 PM
IPO Is Worth For invest for the long term As It has A low P/e Ratio And its A good investment opportunity
14.1. Dharmil.Shah |   Link |  Bookmark |May 16, 2017 1:17:34 PM
The company is issuing shares at very low price compared to its book value. if we stay invested for long term then it will definitely give double return.
13. CA M&co.Jodhpur |   Link |  Bookmark |May 15, 2017 9:54:00 PM
Listing summary of Meera ind.SME
Issue price-36
Closing price -36.05
High -37.00
Low -33.00
12. Hiren K. |   Link |  Bookmark |May 14, 2017 10:59:33 AM
Yug Decor SME IPO coming up at 18th May.