Utssav Cz Gold Jewels Limited IPO

NiftyTrader • July 29, 2024

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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

IPO Date	July 31, 2024 to August 2, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹104 to ₹110 per share
Lot Size	1200 Shares
Total Issue Size	6,318,000 shares (aggregating up to ₹69.50 Cr)
Fresh Issue	6,318,000 shares (aggregating up to ₹69.50 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	17,500,000
Shareholding post-issue	23,818,000
Market Maker portion	318,000 shares

Utssav Cz Gold Jewels IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹132,000
Retail (Max)	1	1200	₹132,000
HNI (Min)	2	2400	₹264,000

Utssav Cz Gold Jewels IPO Objectives

The objectives of the Issue are:

Funding Working Capital requirement of the company
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

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	12,333.33	8,215.83	5,616.49	4,423.40
Revenue	27,733.20	23,971.52	12,342.53	12,030.66
Profit After Tax	1,073.76	714.96	333.95	161.87
Net Worth	3,311.00	2,237.24	1,509.33	1,175.38
Reserves and Surplus	2,891.00	1,817.24	1,089.33	755.38
Total Borrowing	7,703.16	4,966.02	3,601.97	3,016.08

Utssav Cz Gold Jewels IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Utssav Cz Gold Jewels IPO Timeline

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

IPO Open Date	Wednesday, July 31, 2024
IPO Close Date	Friday, August 2, 2024
Basis of Allotment	Monday, August 5, 2024
Initiation of Refunds	Tuesday, August 6, 2024
A credit of Shares to Demat	Tuesday, August 6, 2024
Listing Date	Wednesday, August 7, 2024
Cut-off time for UPI mandate confirmation	5 PM 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.