Shoora Designs Limited IPO Detail
Incorporated in 2021, Shoora Designs Limited is engaged in the business of manufacturing and trading diamonds and jewelry.
The company manufactures natural diamonds and jewelry mainly focusing on Natural Lab Grown Diamond and Jewelry.
Shoora procures natural diamonds through suppliers and outsources cleaving, laser cutting, and polishing services from local job-workers in the domestic market of Surat while planning and mapping rough diamonds remain in-house. Its major clients come from wholesalers and retailers with business concentration predominantly in Surat, Gujarat, and Mumbai, Maharashtra.
Shoora Designs' jewelry is available on both offline market and online platforms.
The company recorded Rs. 105.58 lacks revenue from operations for the nine-month period ended March 31, 2023, and Rs. 162.58 lacks for the Financial Year ended March 31, 2022.
Company Promoters
Mr. Satish K Kansodariya, Mrs. Sejalben Satish Kansodariya, and Mr. Rajeshbhai Labhubhai Mer are the promoters of the company.IPO Details
| IPO Opening Date | Aug 17, 2023 |
| IPO Closing Date | Aug 21, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹48 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹2.03 Cr |
| Fresh Issue | 423,000 shares (aggregating up to ₹2.03 Cr) |
| Offer for Sale | - |
| Retail Portion | 50.00% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.00x | 0.00x | 0.00x | |
| Day 2 | - | - | 0.00x | 0.00x | 0.00x | |
| Day 3 | - | - | 0.00x | 0.00x | 0.00x | |
| Day 4 | - | - | 0.58x | 5.70x | 3.14x | |
| Day 5 | - | - | 1.92x | 18.41x | 10.17x | |
| Day 6 | - | - | 34.68x | 93.73x | 64.52x |
IPO Tentative Timetable
The Shoora Designs Limited IPO open date is Aug 17, 2023, and the close date is Aug 21, 2023. The issue may list on Aug 29, 2023.
| IPO Open Date | Aug 17, 2023 |
| IPO Close Date | Aug 21, 2023 |
| Basis of Allotment Date | Aug 24, 2023 |
| Initiation of Refunds | Aug 25, 2023 |
| Credit of Shares to Demat Account | Aug 28, 2023 |
| IPO Listing Date | Aug 29, 2023 |
IPO Lot Size
The Shoora Designs Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹144000 |
| Maximum | 1 | 3000 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 71.77% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 15.03 | 16.26 | 3.91 |
| 31-Mar-23 | 168.99 | 210.61 | 11.46 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
Shoora Designs Limited IPO Registrar:
KFin Technologies Limited
Shoora Designs Limited IPO Lead Manager(s):
Swaraj shares and securities private limited
Company Contact Information:
Shoora Designs Limited
Diamond Apartments Co-op Housing Society, LT H No. 7/3388/A, 6th floor, C/1, 601, Haththupura char rasta
Surat
Surat
