Shree Ganesh Jewellery House IPO
Shree Ganesh Jewellery House IPO — date, price band, lot size & details 2010
Shree Ganesh Jewellery House listed on 9 Apr 2010 at ₹250, 3.8% below the ₹260 issue price.
Shree Ganesh Jewellery House is a Kolkata based maker and exporter of handcrafted gold jewellery, with units in the Manikanchan SEZ in West Bengal. Its total income was Rs 2,218.20 crore in FY2009.
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 12 November.
- Open 19 Mar 2010
- Close 23 Mar 2010
- Allotment 01 Apr 2010
- Refund/credit TBA
- Listing 09 Apr 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 19 to 23 Mar, 2010 |
|---|---|
| Price Band | ₹260 – ₹270 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹371.02 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,500 |
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 25 shares at the ₹260 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹6,500 |
| Retail (max) | 30 | 750 | ₹1,95,000 |
| S-HNI (min) | 31 | 775 | ₹2,01,500 |
| S-HNI (max) | 153 | 3,825 | ₹9,94,500 |
| B-HNI (min) | 154 | 3,850 | ₹10,01,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 827.25 crore in FY2007 to Rs 2,218.20 crore in FY2009.
- 02Profit after tax rose from Rs 50.84 crore in FY2007 to Rs 132.45 crore in FY2009.
- 03EBITDA rose from Rs 62.62 crore in FY2007 to Rs 201.52 crore in FY2009.
- 04Return on net worth was 33.31%.
Risks · 5
- 01Total borrowing rose from Rs 11.36 crore in FY2007 to Rs 376.52 crore on 30 September 2009.
- 02Profit after tax was only Rs 132.45 crore on income of Rs 2,218.20 crore in FY2009, as gold jewellery margins are thin.
- 03Gold prices and export demand drive its business; total assets rose from Rs 202.17 crore in FY2007 to Rs 1,132.60 crore.
- 04The issue was priced at Rs 260, the bottom of its band, and Rs 74.93 crore was for a new plant at Domjur.
- 05Promoter holding fell from 88.33% before the issue to 70.66% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Shree Ganesh Jewellery House offer document.
| Metric | 30 Sep 2009 | 31 Mar 2009 | 31 Mar 2008 | 31 Mar 2007 |
|---|---|---|---|---|
| Assets | 1,132.60 | 883.65 | 503.47 | 202.17 |
| Total Income | 1,325.80 | 2,218.20 | 1,283.03 | 827.25 |
| Profit After Tax | 79.96 | 132.45 | 87.18 | 50.84 |
| EBITDA | 118.51 | 201.52 | 109.37 | 62.62 |
| NET Worth | 480.66 | 397.68 | 268.07 | 103.31 |
| Reserves and Surplus | 432.11 | 296.24 | 166.63 | 81.87 |
| Total Borrowing | 376.52 | 350.67 | 121.75 | 11.36 |
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 Shree Ganesh Jewellery House RHP.
Where the money goes
₹316.61 Cr of the issue is earmarked to named objects.
About the company
It makes and exports handcrafted gold jewellery, including hallmarked, enamelled and stone studded pieces such as rings, earrings, pendants, necklaces and bangles.
Its three manufacturing units were in the Manikanchan SEZ in West Bengal, and it exported to markets such as the UAE, Singapore and Hong Kong.
The IPO was Rs 371.02 crore, with Rs 315.55 crore of fresh issue and Rs 55.47 crore of offer for sale, at Rs 260, the bottom of the Rs 260 to Rs 270 band. The fresh money was for new plants at Domjur and Mondalpara, expansion at the SEZ, retail outlets and working capital.
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.
Shree Ganesh Jewellery House 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.
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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 Shree Ganesh Jewellery House?
The current Grey Market Premium is ₹0.
What is the Shree Ganesh Jewellery House IPO price band?
₹260 to ₹270, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 April 2010, with listing on 9 April 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private 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.
