Utssav Cz Gold Jewels is scheduled to hit the market on July 31, 2024 and close on August 02, 2024. Utssav Cz Gold Jewels plans to raise around ₹69.50 Cr through an IPO with a sale of up to 6,318,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%
Incorporated in November 2007, Utssav Cz Gold Jewels Limited specializes in designing, manufacturing, wholesaling, and exporting 18K, 20K, and 22K CZ gold jewelry. The company produces a diverse range of products such as rings, earrings, pendants, bracelets, necklaces, watches, and brooches. Its manufacturing facility in Andheri East, Mumbai, spans 8,275 square feet and has an annual production capacity of 1,500 kg. Serving customers across 17 states and 2 union territories in India, as well as in 2 countries abroad, the company offers a variety of lightweight jewelry that caters to both daily wear and fashion preferences.
Focusing on customer satisfaction, Utssav Cz Gold Jewels Limited provides traditional and contemporary designs at different price points. In the 2023 financial year, the sales distribution for the 18K and 22K gold jewelry categories was 73.27% and 24.94%, respectively. In the ten months leading up to January 31, 2024, these figures were 74.22% and 24.67%. To remain competitive, the company employs 15 CAD designers who generate approximately 400 new designs each month. As of March 31, 2024, the company has 69 permanent employees on its payroll.
Utssav Cz Gold Jewels IPO Details
Utssav Cz Gold Jewels IPO opens on July 31, 2024, and closes on August 02, 2024. The Listing date for Utssav Cz Gold Jewels IPO is on August 07, 2024. The price band for IPO is ₹104 to ₹110 per share and lot size of 1200 Shares.
| IPO Date | July 31, 2024 to August 02, 2024 |
| Listing Date | August 07, 2024 |
| Price | ₹104 to ₹110 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹69.50 Cr |
| Face Value | ₹10 per share |
Utssav Cz Gold Jewels IPO Tentative Timetable
Utssav Cz Gold Jewels opening date is July 31, 2024 and close date is August 02, 2024. The IPO allotment date is August 05, 2024. Therefund initiation of IPO is on August 06, 2024. The credit of shares in demat account is on August 06, 2024. The listing date is on August 07, 2024.
| Event | Date |
|---|---|
| IPO Opening | July 31, 2024 |
| IPO Closing | August 02, 2024 |
| IPO Allotment Date | August 05, 2024 |
| Refund Initiation | August 06, 2024 |
| Shares Credit to Demat | August 06, 2024 |
| Lisiting Date | August 07, 2024 |
Utssav Cz Gold Jewels IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹132,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹132,000 |
| Retail(Maximum) | 1 | 1200 | ₹132,000 |
| HNI (Minimum) | 2 | 2400 | ₹264,000 |
Utssav Cz Gold Jewels IPO Promoter Holding
| Pre Issue Share Holding | 95.98% |
| Post Issue Share Holding |
Utssav Cz Gold Jewels IPO Review
Utssav Cz Gold Jewels Ltd. (UCGJL) is in the highly competitive gold jewelry market, specializing in crafting CZ gold and rose gold pieces. The company offers a wide range of products, including rings, earrings, and necklaces, and has a significant presence both domestically and internationally. Despite its impressive market reach and diverse product line, UCGJL's financial data, particularly the significant boost in its bottom line from FY23 onwards, raises concerns about the sustainability of its growth. Additionally, the company's financial results up to January 31, 2024, rather than the full FY24, and the discrepancy in pricing between the recent private placement and the IPO raise questions about transparency.
Financially, the company has shown strong growth, with total income rising from ₹120.31 crore in FY21 to ₹277.33 crore in 11M of FY24, and net profits increasing accordingly. However, this rapid growth and the aggressive pricing of the IPO at a P/E of 20.33 based on annualized FY24 earnings suggest that the issue is fully priced, discounting near-term positives. The company did a private placement in April 2024 at ₹82.50 per share, while it is now asking ₹110 at the upper cap for the public, which could be seen as overvalued considering the segment's competitive nature and the financial data provided.
Given the competitive landscape, concerns about the sustainability of recent financial performance, and the aggressive IPO pricing, potential investors might find this offering risky with limited return prospects. The lack of up-to-date financial transparency further exacerbates these concerns. Therefore, it may be prudent for investors to skip this “High Risk/Low Return” IPO, considering the various red flags and the demanding valuation.
Utssav Cz Gold Jewels IPO Subscription Status (Bidding Details)
Table not foundUtssav Cz Gold Jewels IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Utssav Cz Gold Jewels IPO FAQs
What is Utssav Cz Gold Jewels IPO?
Utssav Cz Gold Jewels is issuing 6,318,000 equity shares with a face value of ₹10 each, totaling up to ₹69.50 Cr. The shares are being offered at a price of ₹104 to ₹110 each, with a minimum order quantity of 1200 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Utssav Cz Gold Jewels IPO will open?
Utssav Cz Gold Jewels will open on July 31, 2024 for QIB, NII, and Retail Investors.
When Utssav Cz Gold Jewels IPO will end?
Utssav Cz Gold Jewels will end on August 02, 2024.
What is Utssav Cz Gold Jewels IPO Size?
Utssav Cz Gold Jewels IPO size is ₹69.50 Cr.
What is Utssav Cz Gold Jewels IPO Price Band?
Utssav Cz Gold Jewels price band is ₹104 to ₹110 per share.
What is the Utssav Cz Gold Jewels IPO Allotment Date?
Utssav Cz Gold Jewels allotment date is August 05, 2024.
What is the Utssav Cz Gold Jewels IPO Listing Date?
Utssav Cz Gold Jewels listing date is August 07, 2024. The IPO is to be listed on BSE and NSE.
How to Utssav Cz Gold Jewels IPO through Zerodha?
To apply for the IPO “Utssav Cz Gold Jewels” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Utssav Cz Gold Jewels IPO through Upstox?
To apply for the IPO “Utssav Cz Gold Jewels” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Utssav Cz Gold Jewels IPO Allotment Status?
For Utssav Cz Gold Jewels IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Utssav Cz Gold Jewels IPO GMP?
You can check out here: Utssav Cz Gold Jewels IPO GMP