The Palm Jewels date has been confirmed from May 25, 2018 and ended on June 4, 2018.
Palm Jewels Developers IPO is a fixed price issue of Rs 8.90 crores. The price is ₹30 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹120,000.
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Bidding Dates
May 25-June 4
Price Range
₹30 per share
Face Value
₹10 per share
GMP
₹17.59
Palm Jewels IPO GMP
The Palm Jewels IPO GMP is ₹17.59.
IPO Overview
The Palm Jewels IPO has a fixed price of Rs 8.90 crores. Palm Jewels’ initial public offering (IPO) bidding began on May 25, 2018 and ended on June 4, 2018. The Palm Jewels IPO allotment was completed on Wednesday, June 6, 2018. On June 12, 2018, the shares were listed on the BSE SME. The IPO price for Palm Jewels is ₹30 per share. A lot size of 4000 shares is required for an application.
Retail investors must make a minimum investment of ₹120,000 to participate. Customers include M/s. Zaverat, Mehta Ornaments Private Limited, Shah Chinubhai Ramniklal Co., and Shubhlaxmi Jewellers, among others. Palm Jewels currently employs eleven people.
Palm Jewels IPO Details
| IPO Date | May 25, 2018 to June 4, 2018 |
| Listing Date | June 12, 2018 |
| Face Value | ₹10 per share |
| Price | ₹30 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 2,968,000 shares (aggregating up to ₹8.90 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 152,000 shares |
Palm Jewels Company Financials
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 163.08 | 36.62 | 35.93 | 34.87 | 33.54 | |
| Total Revenue | 552.38 | 157.48 | 97.91 | 41.63 | 118.89 | |
| Profit After Tax | 1.54 | 0.53 | (0.35) | 0.19 | 0.14 | |
Palm Jewels IPO Timeline
| IPO Open Date | Friday, May 25, 2018 |
| IPO Close Date | Monday, June 4, 2018 |
| Basis of Allotment | Wednesday, June 6, 2018 |
| Initiation of Refunds | Thursday, June 7, 2018 |
| Credit of Shares to Demat | Thursday, June 7, 2018 |
| Listing Date | Tuesday, June 12, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 4, 2018 |
Company Profile
Palm Jewels Limited, situated in Gujarat, was founded in 2005 and is in the wholesale business of gold jewellery. The business sells gold chains, bracelets, and necklaces. It outsources the jewellery manufacturing to job workers in Ahmedabad and Mumbai. Gold and silver are the primary raw materials utilised in the production of the items. Gold bars and other necessary materials are distributed to job workers in Ahmedabad and Mumbai. The final jewellery is sold directly to other jewellery retailers by the company’s marketing and sales team. Only
through B2B marketing and/or direct/outbound marketing strategies is the jewellery widely offered throughout Gujarat.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | einward.ris@karvy.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Palm Jewels Limited |
| Phone number | +91 79 40052056 |
| Email ID | compliance.pjl@gmail.com |
| Website | palmjewels.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
