Shoora Designs was established on March 05, 2021. Initially, the company operated within the 'textiles & apparel' industry, focusing on 'apparel & Accessories'. However, during FY22, the company's objective underwent an amendment to encompass the manufacturing and trading of diamonds and jewelry.
| Bidding Dates |
|---|
| 17 Aug 2023 - 21 Aug 2023 |
| Subscription |
|---|
| 60.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 3000 | 423.0 K | ₹48 | 71.77 % | ₹20.3 M | RHP DOC |
Shoora Designs IPO SUBSCRIPTION STATUS
21 Aug '23Shoora Designs IPO overall subscription rate was 60.42 times the total available shares
Shoora Designs IPO retail subscription rate was 87.66 times in the retail segment
Shoora Designs IPO non-institutional investor subscription rate was 33.18 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
21 Aug 2023 (Day 3) | 87.66x | 33.18x | - |
18 Aug 2023 (Day 2) | 17.23x | 1.93x | - |
17 Aug 2023 (Day 1) | 5.33x | 0.67x | - |
Shoora Designs FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 1.1 | 21.1 | -13.8 | -14.1 |
| FY22 | 0.4 | 1.6 | 1.4 | 1.3 |
Shoora Designs IPO SUBSCRIPTION STATUS DETAILS
Shoora Designs had 423.0 K shares on offer
Shoora Designs IPO offer price was ₹48
Shoora Designs IPO minimum Investment was ₹144000
Shoora Designs IPO issue size was ₹ 20.3 M
Shoora Designs had a minimum lot size of 3000 Shares per application
Shoora Designs NUMBER OF SHARES ON OFFER
Shoora Designs IPO IMPORTANT DATES
| Issue Open Date | 17 Aug 2023 |
| Issue close Date | 21 Aug 2023 |
| Allotment Date | 24 Aug 2023 |
| Refund Date | 25 Aug 2023 |
| Demat Account Credit Date | 28 Aug 2023 |
| Listing Date | 29 Aug 2023 |
| Listing on Exchange(s) | BSE |
| Shoora Designs Allotment Status | Exchange |
Shoora Designs IPO subscription opened on 17 Aug 2023, and closed on 21 Aug 2023
IPO allotment for Shoora Designs was finalized on Thursday, 24 Aug 2023
IPO listing for Shoora Designs was on BSE on Tuesday, 29 Aug 2023
Shoora Designs IPO LISTING GAINS
| Issue Price (adjusted) | 48.0 |
| Listing Open Price | 91.2 |
| Listing Close Price | 95.8 |
| Listing Gain% | 90.0% |
| Current Gain% | 61.9% |
Shoora Designs Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shoora Designs Ltd. | 77.7 | 11.6 | 987.2 | -12.4 | 1 | 0.2 | 0.2 | 11.8 | 141.9 | 0 | -37.8 | 0.1 | -79.8 |
| Titan Company Ltd. | 5090 | 451883.2 | 78.5 | 1.4 | 4.9 | 32.3 | 8.4 | 88136 | 44.6 | 5073 | 52 | 64.9 | 55.1 |
| Kalyan Jewellers India Ltd. | 600.2 | 61990.9 | 43.2 | 0.5 | 1.6 | 21.4 | 6.5 | 35950.9 | 42.7 | 1350.4 | 88.9 | 13.9 | 79.1 |
| Thangamayil Jewellery Ltd. | 5349 | 16634.2 | 42.5 | 0.2 | 1.7 | 24.8 | 9.2 | 8513.8 | 73.2 | 351.6 | 196.2 | 125.7 | 262.5 |
| Bluestone Jewellery and Lifestyle Ltd. | 830.2 | 12680.5 | 225.2 | 1.8 | 4.7 | 0.8 | 0.3 | 2486 | 35.8 | 14.8 | 106.7 | 3.7 | 128.6 |
| Sky Gold and Diamonds Ltd. | 779.6 | 12074 | 43.9 | 0.4 | 1.7 | 23 | 12.5 | 6331.3 | 76.8 | 275.3 | 107.5 | 17.8 | 116.1 |
Shoora Designs INFORMATION ON IPO ISSUE
About Shoora Designs
Shoora Designs was established on March 05, 2021. Initially, the company operated within the 'textiles & apparel' industry, focusing on 'apparel & Accessories'. However, during FY22, the company's objective underwent an amendment to encompass the manufacturing and trading of diamonds and jewelry.
Object of the Issue
- Working capital requirements
- General Corporate Purposes
Shoora Designs - PROMOTERS
| Name |
|---|
| Satish K Kansodariya |
| Sejalben Satish Kansodariya |
| Rajeshbhai Labhubhai Mer |
Shoora Designs Lead Manager of the Issue
Swaraj Shares and Securities Private Limited
compliance@swarajshares.com
Shoora Designs Registrar to the issue
Kfin Technologies Private Limited
shooradesigns.ipo@kfintech.com
Shoora Designs Strengths
Existing distribution and sales networks
India holds the distinction of being the world's largest center for diamond processing, with Surat standing out as a pivotal hub within the diamond industry. Within this context, the company has already established a notable presence in Gujarat's domestic market and is now actively pursuing the expansion of its geographical footprint
Repetitive customers
The company has forged strong relationships with both customers and suppliers. The trust and goodwill it has garnered over the years have played a significant role in retaining key customers, who in turn contribute to the expansion of its client portfolio
Shoora Designs Risks
Limited operating history
Due to its limited operating history, the company may be exposed to risks inherent in early-stage ventures. These challenges could potentially complicate the assessment of its business prospects
Competitive market
Operating within a competitive market, the company contends with rivalry from other manufacturers. Any escalation in competitive pressures could potentially have a negative impact on the business
IPO FAQs
The promoters of the company are Satish K Kansodariya, Sejalben Satish Kansodariya and Rajeshbhai Labhubhai Mer.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 48.0 - 48.0.
The IPO application opens on Aug 17, 2023 and closes on Aug 21, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 144,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Aug 24, 2023.
The refund will be credited to your account on Aug 25, 2023.
The allotted shares will be credited to your demat on Aug 28, 2023.
Shoora Designs Ltd.’s shares listed on the stock exchanges on Aug 29, 2023.