Varyaa Creations, incorporated on July 14, 2005, primarily engages in wholesale trading of gold, silver, precious stones, and semi-precious stones. Additionally, starting from FY25 onwards, the company intends to pivot towards manufacturing and selling jewellery as well.
| Bidding Dates |
|---|
| 22 Apr 2024 - 25 Apr 2024 |
| Subscription |
|---|
| 3.45x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,50,000 | 1 | 1 | 1000 | 1.3 M | ₹150 | 72.03 % | ₹201.0 M | RHP DOC |
Varyaa Creations IPO SUBSCRIPTION STATUS
25 Apr '24Varyaa Creations IPO overall subscription rate was 3.45 times the total available shares
Varyaa Creations IPO retail subscription rate was 5.77 times in the retail segment
Varyaa Creations IPO non-institutional investor subscription rate was 1.13 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
25 Apr 2024 (Day 4) | 5.77x | 1.13x | - |
24 Apr 2024 (Day 3) | 3.46x | 0.37x | - |
23 Apr 2024 (Day 2) | 2.35x | 0.3x | - |
22 Apr 2024 (Day 1) | 1.25x | 0.09x | - |
Varyaa Creations 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) | Margins |
| 9MFY24 | 35.1 | 171.9 | -37.1 | -37.3 | 26.6% |
| FY23 | 7.9 | 52.3 | 38.1 | 38.1 | 21.0% |
| FY22 | 5.8 | 24.7 | 0.9 | 0.9 | 26.8% |
| FY21 | -1.3 | 0.9 | 0.9 | 0.9 | -19.9% |
Varyaa Creations IPO SUBSCRIPTION STATUS DETAILS
Varyaa Creations had 1.3 M shares on offer
Varyaa Creations IPO offer price was ₹150
Varyaa Creations IPO minimum Investment was ₹150000
Varyaa Creations IPO issue size was ₹ 201.0 M
Varyaa Creations had a minimum lot size of 1000 Shares per application
Varyaa Creations NUMBER OF SHARES ON OFFER
Varyaa Creations IPO IMPORTANT DATES
| Issue Open Date | 22 Apr 2024 |
| Issue close Date | 25 Apr 2024 |
| Allotment Date | 26 Apr 2024 |
| Refund Date | 29 Apr 2024 |
| Demat Account Credit Date | 29 Apr 2024 |
| Listing Date | 30 Apr 2024 |
| Listing on Exchange(s) | BSE |
| Varyaa Creations Allotment Status | Exchange |
Varyaa Creations IPO subscription opened on 22 Apr 2024, and closed on 25 Apr 2024
IPO allotment for Varyaa Creations was finalized on Friday, 26 Apr 2024
IPO listing for Varyaa Creations was on BSE on Tuesday, 30 Apr 2024
Varyaa Creations IPO LISTING GAINS
| Issue Price (adjusted) | 150.0 |
| Listing Open Price | 285.0 |
| Listing Close Price | 270.8 |
| Listing Gain% | 90.0% |
| Current Gain% | -82.0% |
Varyaa Creations 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Varyaa Creations Ltd. | 27 | 12.9 | 24.9 | 1.1 | 0.4 | 2.1 | 1.8 | 35 | 11.6 | 0.5 | 23.4 | 1.1 | 23.4 |
| Adani Enterprises Ltd. | 3020 | 408730.2 | 54.9 | 3.3 | 3.7 | 11.5 | 3.6 | 102943.2 | 2.6 | 9339.5 | 31.6 | 55 | 16.7 |
| Redington Ltd. | 354.8 | 27741.3 | 16.3 | 4 | 0.2 | 14.7 | 4.4 | 119347.4 | 19.9 | 1490.2 | -7.1 | 21.8 | 4.1 |
| Lloyds Enterprises Ltd. | 83.5 | 12611.6 | 44.5 | 0.1 | 7.2 | 6.8 | 3.9 | 2183.7 | 39 | 283.4 | 396.5 | 1.9 | 396.5 |
| Swan Corp Ltd. | 308 | 9656 | 35.2 | -0.6 | 2.2 | 3.6 | 2 | 5143.5 | -25.3 | 274.1 | -63.7 | 8.7 | -63.7 |
| MMTC Ltd. | 64 | 9597 | 24.8 | 0.1 | 2814.4 | 18.3 | 13.8 | 180.6 | -31.3 | 387.4 | 347.2 | 2.6 | 347.2 |
Varyaa Creations INFORMATION ON IPO ISSUE
About Varyaa Creations
Varyaa Creations, incorporated on July 14, 2005, primarily engages in wholesale trading of gold, silver, precious stones, and semi-precious stones. Additionally, starting from FY25 onwards, the company intends to pivot towards manufacturing and selling jewellery as well.
Object of the Issue
- To finance the establishment of a new showroom:
- Capital expenditure cost for the proposed new showroom and purchase of inventory for the proposed new showroom
- Purchase of inventory
- General corporate purposes
Varyaa Creations - PROMOTERS
| Name |
|---|
| Pooja Vineet Naheta |
| Sarika Amit Naheta |
Varyaa Creations Lead Manager
Inventure Merchant Banker Services Private Limited
compliance@inventuremerchantbanker.com
Varyaa Creations Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Varyaa Creations Strengths
Established brand
The company has garnered recognition in the local jewellery market in Mumbai under the brand name "Varyaa." This brand identity has been instrumental in fostering trust and goodwill among customers
Extensive product list
The company boasts an extensive product line comprising earrings, necklaces, pendants, chains, finger rings, bracelets, anklets, nose pins, mangalsutras, pendant sets, and bangles crafted from brass or silver. These offerings cater to diverse tastes, preferences, and choices of customers across various age groups. Additionally, the company also provides male accessories such as rings, cufflinks, and button sets
Varyaa Creations Risks
Outstanding legal proceeding
The company is currently involved in certain legal proceedings involving the promoter and promoter entities. Any adverse outcomes from these proceedings have the potential to adversely affect the business, financial condition, and results of operations
Strong competition
Intense competition in the jewellery sector may lead to a decrease in market share and could pressure the company to either reduce its costs or increase payments to job workers
IPO FAQs
The promoters of the company are Pooja Vineet Naheta and Sarika Amit Naheta.
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 150.0 - 150.0.
The IPO application opens on Apr 22, 2024 and closes on Apr 25, 2024.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 150,000.0, the maximum value for this IPO is Rs 150,000.0.
This IPO will be allotted on Apr 26, 2024.
The refund will be credited to your account on Apr 29, 2024.
The allotted shares will be credited to your demat on Apr 29, 2024.
Varyaa Creations Ltd.’s shares listed on the stock exchanges on Apr 30, 2024.