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Review By Dilip Davda on September 24, 2015
Patdiam Jewellery Ltd (PJL) is engaged in the business of designing, manufacturing and marketing of various jewellery made out of gold, platinum, and silver with studded diamonds, precious and semi-precious stones. Being 100% EOU (export oriented unit) , it markets it products in international markets. PJL develops on an average 200 designs every month to cater to the taste of customers. Its product range includes rings, earrings, pendants, bracelets, necklaces etc. It exports the products to various countries including Spain, Polland, Germany, Holland, Norway, Slovenia, Dubai, Saudi Arabia, Hong Kong, Japan, France, Ireland etc.
To meet its working capital requirement, the company is coming out with a maiden IPO of 1317000 equity shares of Rs. 10 each at a fixed price of Rs. 38 per share to mobilize Rs. 5.01 crore. Issue opens for subscription on 30.09.15 and will close on 05.10.15. Minimum application is to be made for 3000 shares and in multiples thereon, thereafter. Issue is lead managed by Pantomath Capital Advisors Pvt Ltd and Bigshare Services Pvt Ltd is the registrar to the issue. Since inception till 2004 it issued equity at par and then issued bonus in the ratio of 3 for 5 in July 2006 and 1 for 2 in August 2015. Its current paid up equity of Rs. 3.00 crore will stand enhanced to Rs. 4.32 crore post issue. Shares will be listed on BSE SME after allotment.
On performance front, the company has posted an average EPS of Rs. 2.23 with RONW of 2.70%. For FY 2015 it has earned net profit of Rs. 0.52 crore on a turnover of Rs. 54.63 crore. This translates into an EPS of Rs. 1.73 (on post bonus equity) and Rs. 1.20 on post issue equity. Thus asking price of the issue is at a P/E of 31.7 on post IPO basis. It appears to be aggressively priced.
On merchant banker’s front, this is the 14th SME issue from its stable and earlier mandates have given average rewards.
Risk avers fund surplus investors may invest for long term rewards.
Review By Dilip Davda on September 24, 2015
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. My reviews do not cover GMP market and operators game plans. Readers must consult a qualified financial advisor before making any actual investment decisions, based the on information published here. With entry barriers, SEBI wants only well-informed investors to participate in such offers. With crazy listings in the recent past, SME IPOs drew the attention of investors across the board and lead to seer madness. However, as SME issues have entry barriers and continued low preference from the broking community, any reader taking decisions based on any information published here does so entirely at their own risk. The above information is based on information available as of date coupled with market perceptions. The Author has no plans to invest in this offer.
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
(Dilip Davda -SEBI registered Research Analyst-Mumbai,
Registration no. INH000003127 (Perpetual)
Email id: dilip_davda@rediffmail.com ).
The initial public offer (IPO) of Patdiam Jewellery Ltd offers an early investment opportunity in Patdiam Jewellery Ltd. A stock market investor can buy Patdiam Jewellery IPO shares by applying in IPO before Patdiam Jewellery Ltd shares get listed at the stock exchanges. An investor could invest in Patdiam Jewellery IPO for short term listing gain or a long term.
Read the Patdiam Jewellery IPO recommendations by the leading analyst and leading stock brokers.
Patdiam Jewellery IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges. Read the Patdiam Jewellery IPO Notes, Analysis and Recommendations by leading stock brokerage firms and experts in the above answer.
Our recommendation for Patdiam Jewellery IPO is to subscribe.
As per the analysis by our lead analyst Mr. Dilip Davda, we suggest you to subscribe to the Patdiam Jewellery IPO.
The Patdiam Jewellery IPO allotment status will be available on or around [.]. The allotted shares will be credited in demat account by [.]. Visit Patdiam Jewellery IPO allotment status to check.
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