PC Jeweller IPO
PC Jeweller IPO — date, price band, lot size & details 2012
PC Jeweller listed on 27 Dec 2012 at ₹137, 1.5% above the ₹135 issue price.
PC Jeweller is a North India jewellery retailer that also makes and wholesales gold and diamond jewellery. Its total income was Rs 3,674.21 crore in FY2012.
Stock price
PC Jeweller is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 10 Dec 2012
- Close 12 Dec 2012
- Allotment 21 Dec 2012
- Refund/credit TBA
- Listing 27 Dec 2012
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 12 Dec, 2012 |
|---|---|
| Price Band | ₹125 – ₹135 |
| Face Value | ₹10 |
| Lot Size | 90 Shares |
| Issue Size | ₹601.31 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 5.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 12,150 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 90 shares at the ₹135 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 90 | ₹12,150 |
| Retail (max) | 16 | 1,440 | ₹1,94,400 |
| S-HNI (min) | 17 | 1,530 | ₹2,06,550 |
| S-HNI (max) | 82 | 7,380 | ₹9,96,300 |
| B-HNI (min) | 83 | 7,470 | ₹10,08,450 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,104.45 crore in FY2010 to Rs 3,674.21 crore in FY2012.
- 02Profit after tax rose from Rs 66.46 crore in FY2010 to Rs 231.29 crore in FY2012.
- 03EBITDA rose from Rs 98.47 crore in FY2010 to Rs 331.29 crore in FY2012.
- 04Net worth rose from Rs 152.04 crore in FY2010 to Rs 697.70 crore on 30 September 2012.
- 05Rs 516.85 crore of the issue was for new showrooms.
Risks · 5
- 01Income tripled in two years from Rs 1,104.45 crore, which is hard to sustain.
- 02Gold prices drive sales and inventory value; total assets were Rs 2,417.46 crore on 30 September 2012.
- 03Opening many showrooms at once with Rs 516.85 crore carries execution risk.
- 04Wholesale jewellery sales carry thin margins and credit risk to other jewellers; profit was Rs 141.30 crore in six months to September 2012.
- 05Promoter holding fell from 93.61% before the issue to 70.02% after it.
Three years of numbers
All figures in ₹ crore, as reported in the PC Jeweller offer document.
| Metric | 30 Sep 2012 | 31 Mar 2012 | 31 Mar 2011 | 31 Mar 2010 |
|---|---|---|---|---|
| Assets | 2,417.46 | 2,034.84 | 1,078.86 | 712.93 |
| Total Income | 2,064.24 | 3,674.21 | 2,209.62 | 1,104.45 |
| Profit After Tax | 141.30 | 231.29 | 144.87 | 66.46 |
| EBITDA | 233.58 | 331.29 | 198.90 | 98.47 |
| NET Worth | 697.70 | 555.72 | 325.67 | 152.04 |
| Reserves and Surplus | 563.73 | 421.75 | 281.01 | 110.83 |
| Total Borrowing | - | - | - | 81.24 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the PC Jeweller RHP.
Where the money goes
₹563.29 Cr of the issue is earmarked to named objects.
PC Jeweller IPO Anchor Investors
11 anchor investors across 7 fund houses committed ₹90.67 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Db International (Asia) Ltd | - | 1,481,490 | 20.00 | 22.06% |
| Reliance Capital Trustee Company Limited A/C Reliance Vision Fund | Nippon India Mutual Fund | 1,481,490 | 20.00 | 22.06% |
| Dvi Fund Mauritius Ltd | - | 721,735 | 9.74 | 10.75% |
| Stichting Pensioenfonds Abp | - | 661,140 | 8.93 | 9.84% |
| Mirae Asset Global Investment Co Ltd A/C Mirae Asset India Bluechip Equity Master Investment Trust | - | 518,490 | 7.00 | 7.72% |
| Goldman Sachs India Fund Ltd | Goldman Sachs | 370,381 | 5.00 | 5.51% |
| HSBC Tax Saver Equity Fund | HSBC Mutual Fund | 370,381 | 5.00 | 5.51% |
| Birla Sunlife Trustee Company Private Limited A/C Birla Sunlife Midcap Fund | Aditya Birla Sun Life Mutual Fund | 370,381 | 5.00 | 5.51% |
| Tata Aia Life Insurance Co Ltd A/C Whole Life Midcap Equity Fund | Tata Aia Life Insurance | 370,381 | 5.00 | 5.51% |
| Mirae Asset India Opportunities Fund | Mirae Asset Mutual Fund | 235,386 | 3.18 | 3.50% |
| Mirae Asset Emerging Bluechip Fund | Mirae Asset Mutual Fund | 134,995 | 1.82 | 2.01% |
| Total anchor allocation | 90.67 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It makes, retails and wholesales jewellery, including gold jewellery, diamond jewellery and silver articles. It sells 100% hallmarked jewellery and certified diamond jewellery.
Besides its showrooms, it sells gold and diamond jewellery on a wholesale basis to other jewellers.
The IPO was Rs 601.31 crore and was entirely fresh issue at Rs 135, the top of the Rs 125 to Rs 135 band. Most of the money was for opening new showrooms.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
PC Jeweller IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
142 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
IDBI Capital Markets & Securities Ltd.
43 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of PC Jeweller?
The current Grey Market Premium is ₹0.
What is the PC Jeweller IPO price band?
₹125 to ₹135, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 December 2012, with listing on 27 December 2012.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
