Utssav Cz Gold Jewels Limited IPO

Utssav Cz Gold Jewels IPO  opens on July 31, 2024, and closes on August 2, 2024. The allotment for the Utssav Cz Gold Jewels IPO   is anticipated to be completed on Monday, August 5, 2024. The IPO will be listed on the NSE and SME, with a tentative date set for Wednesday, August 7,2024.

The Utssav Cz Gold Jewels IPO’s price band is Rs 104 to Rs 110 per share. The IPO is a book-built issue of Rs 69.50 crores, entirely a fresh issue of 63.18 Lakhs shares.

Utssav Cz Gold Jewels IPO Details

Utssav Cz Gold Jewels IPO Lot Size

Utssav Cz Gold Jewels IPO Objectives

The objectives of the Issue are:

1. Funding Working Capital requirement of the company
2. General Corporate Purpose.

About Utssav Cz Gold Jewels Limited

Utssav Cz Gold Jewels Limited, established in November 2007, specializes in the design, manufacture, wholesale, and export of 18 Karat, 20 Karat, and 22 Carat CZ gold jewelry.

The company offers a wide range of jewelry, including rings, earrings, pendants, bracelets, necklaces, watches, and brooches. Their manufacturing facility in Andheri East, Mumbai, spans 8,275 square feet and has a production capacity of 1,500 kg per year.

Utssav Cz Gold Jewels serve customers in 17 states and 2 union territories in India, as well as in 2 other countries. They offer a variety of lightweight jewelry in 18K, 20K, and 22K CZ gold and rose gold, which are popular for daily wear and fashion. Their collection includes both traditional and modern designs at different price points to cater to various consumer preferences. In the 2023 financial year, sales from 18K and 22K gold jewelry made up 73.27% and 24.94% of total sales, respectively. For the ten months ending January 31, 2024, these figures were 74.22% and 24.67%.

To stay ahead of market trends and meet customer demands, the company employs 15 CAD designers who create about 400 new designs every month. As of March 31, 2024, Utssav Cz Gold Jewels Limited had 69 permanent employees on its payroll.

Utssav Cz Gold Jewels Limited Financial Information 

Utssav Cz Gold Jewels IPO Reservation

Utssav Cz Gold Jewels IPO Timeline

Utssav Cz Gold Jewels IPO opens on July 31, 2024, and closes on August 2, 2024.

Conclusion

The Utssav Cz Gold Jewels IPO, set to open on July 31, 2024, and close on August 2, 2024, offers a price band of 104 to 110 per share, aiming to raise 69.50 crores through a fresh issue of 6,318,000 shares. The proceeds will fund the company’s working capital needs and general corporate purposes. Established in 2007, Utssav Cz Gold Jewels specializes in 18K, 20K, and 22K CZ gold jewelry, serving both domestic and international markets with a diverse product range. The company has shown significant financial growth, with increasing assets, revenue, and profits. The IPO will be listed on the NSE SME, with the allotment expected on August 5, 2024, and trading to commence on August 7, 2024.