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RO Jewels IPO is a fixed price issue of Rs 4.91 crores.
RO Jewels IPO bidding started from March 12, 2020 and ended on March 17, 2020. The allotment for RO Jewels IPO was finalized on Friday, March 20, 2020. The shares got listed on BSE SME on March 25, 2020.
RO Jewels IPO price is ₹36 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹108,000.
First Overseas Capital Limited is the book running lead manager of the RO Jewels IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to RO Jewels IPO RHP for detailed information.
| IPO Date | March 12, 2020 to March 17, 2020 |
| Listing Date | March 25, 2020 |
| Face Value | ₹10 per share |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,365,000 shares (aggregating up to ₹4.91 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,467,083 |
| Share holding post issue | 2,832,083 |
| Market Maker portion | 69,000 shares |
RO Jewels IPO offers 1,365,000 shares. 648,000 (47.47%) to NII, 648,000 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 69,000 (5.05%) |
| Other Shares Offered | 648,000 (47.47%) |
| Retail Shares Offered | 648,000 (47.47%) |
| Total Shares Offered | 1,365,000 (100%) |
RO Jewels IPO opens on March 12, 2020, and closes on March 17, 2020.
| IPO Open Date | Thursday, March 12, 2020 |
| IPO Close Date | Tuesday, March 17, 2020 |
| Basis of Allotment | Friday, March 20, 2020 |
| Initiation of Refunds | Monday, March 23, 2020 |
| Credit of Shares to Demat | Tuesday, March 24, 2020 |
| Listing Date | Wednesday, March 25, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 17, 2020 |
Investors can bid for a minimum of 3000 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 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
| Lot Size Calculator | |||
Mr. Bharat Rasiklal Shah, Mrs. Pravinaben Shah and Mr. Shubham Bharatbhai Shah are the promoters of the company.
| Share Holding Pre Issue | 87.38% |
| Share Holding Post Issue | 45.26% |
Incorporated in 2018, RO Jewels is engaged in the wholesale business of Silver and Gold chains. It is an Ahmedabad based business to sell gold/silver necklaces, bars, bracelets, and chains. RO Jewels acquired M/s Ravi Ornaments dated 18th Dec 2019.
The company purchases the readymade jewelry from the independent wholesalers and manufacturers across Mumbai and Ahmedabad. It has a showroom at Manek Chowk, Ahmedabad to sell the products. Apart from this, the company also sells products to other jewelry stores through B2B marketing strategy.
The Jewelry portfolio of the company includes Indo-western, traditional, and modern jewelry. All the jewelry offered by RO Jewels has BIS Hallmark (widely accepted mark of purity of gold).
Competitive Strength
1. Established brand name in the local market
2. The long term strong business relationships
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Sep-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 580.25 | 179.06 | 230.49 | 156.13 | |
| Total Revenue | 1,047.22 | 424.34 | 975.70 | 574.40 | |
| Profit After Tax | 15.05 | 1.49 | 6.85 | 5.87 | |
The market capitalization of RO Jewels IPO is Rs 10.2 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 34 |
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
1) Additional Working Capital;
2) General Corporate Expenses and
3) To meet the expenses of the Issue
[Dilip Davda] ROJL's financial performance is showing inconsistency. It has only one showroom with just 9 employees (including 2 directors and 1 company secretary) as on filing of offer documents. On the basis of supper earnings for H1 FY20, the issue appears fully priced. Company's bankers are trouble ridden Yes Bank Ltd. LM has a poor track record with similar issues in the past. Simply stay away from this IPO. Read detail review...
The RO Jewels IPO is subscribed 1.19 times on March 17, 2020 6:49:23 PM. The public issue subscribed 0.43 times in the retail category, times in the QIB category, and 1.95 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 1.95 |
| Retail | 0.43 |
| Total | 1.19 |
| Listing Date | March 25, 2020 |
| BSE Script Code | 543171 |
| NSE Symbol | |
| ISIN | INE0BDU01010 |
| Final Issue Price | ₹36 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹36.00 |
| ₹36.00 |
| ₹36.00 |
| ₹36.00 |
| ₹36.00 |
RO Jewels Ltd
202, Shri Virkala Complex,
M.G. Haveli R, Manekchowk Co. Op Bank,
Manekchowk, Ahmedabad, Gujarat, India, 380001
Phone: +91 79 22144429/ 22153329
Email: compliancerojewels@gmail.com
Website: http://www.rojewels.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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RO Jewels IPO is a SME IPO of 1,365,000 equity shares of the face value of ₹10 aggregating up to ₹4.91 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.
The IPO opens on March 12, 2020, and closes on March 17, 2020.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in RO Jewels IPO using UPI as a payment gateway. Zerodha customers can apply in RO Jewels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in RO Jewels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The RO Jewels IPO opens on March 12, 2020 and closes on March 17, 2020.
RO Jewels IPO lot size is 3000 Shares, and the minimum amount required is ₹108,000.
You can apply in RO Jewels 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 RO Jewels IPO will be done on Friday, March 20, 2020, and the allotted shares will be credited to your demat account by Tuesday, March 24, 2020. Check the RO Jewels IPO allotment status.
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