The Utssav CZ Gold Jewels IPO, valued ₹69.50 crore, includes a fresh issuance of 6,318,000 equity shares with a face value of ₹10. There is no ‘offer for sale’ component.
The Utssav CZ Gold Jewels IPO subscription period started on Wednesday, July 31, and ends on Friday, August 2. The offer’s price range is set between ₹104 and ₹110, with a face value of ₹10 per share. Multiples of those shares are available, and bids are being accepted for a minimum of 1,200 shares.
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The equity share allocation for the company is as follows: up to 3,18,000 equity shares are available for market makers; qualified institutional buyers (QIB) may purchase up to 12,00,000 equity shares; non-institutional investors (NII) may purchase up to 9,00,000 equity shares; retail individual investors (RII) may purchase up to 21,00,000 equity shares; and market makers may purchase up to 12,00,000 equity shares.
Founded in 2007, Utssav CZ Gold Jewels Ltd is a prominent entity in the creation, production, distribution, and export of CZ gold jewelry. The firm provides a wide variety of products, with a focus on lightweight CZ gold and rose gold pieces. Some of the items offered are timepieces, brooches, bracelets, necklaces, earrings, rings, and pendants. Their jewelry blends the elegance of gold with the brilliant brilliance of cubic zirconia, sometimes known as “American Diamonds,” and is designed to appeal to today’s young for both special events and everyday use. operating out of a 1,500 kilogram capacity, 8,275 square foot, state-of-the-art facility in Mumbai.
As per the red herring prospectus (RHP), the company’s listed peers are Ashapuri Gold Ornaments Ltd (with a P/E of 10.70), Sky Gold Ltd (with a P/E of 115.11), Swarnsarita Jewels India Ltd (with a P/E of 9.29), and Uday Jewellery Industries Ltd (with a P/E of 32.42).
During the 10 months that concluded in January of this year, the firm brought in ₹27,595.41 Lakhs in revenue, ₹1,907.69 Lakhs in EBITDA, and ₹1,073.76 Lakhs in PAT.
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Utssav CZ Gold Jewels IPO subscription status
Utssav CZ Gold Jewels IPO subscription status is 46.18 times, on day 3, so far.
The retail portion was subscribed 43.98 times, and NII portion was booked 64.32 times. Qualified Institutions Buyers portion has been subscribed 36.43 times.
The company has received bids for 19,39,74,000 shares against 42,00,000 shares on offer, at 15:55 IST, according to data on chittorgarh.com
Utssav CZ Gold Jewels IPO subscription status is 1.83 times, on day 1, and the issue was booked 8.43 times.
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Utssav CZ Gold Jewels IPO details
The Utssav CZ Gold Jewels IPO, valued ₹69.50 crore, includes a fresh issuance of 6,318,000 equity shares with a face value of ₹10. There is no “offer for sale” component.
The net proceeds are intended to be used for general corporate purposes and to fund the company’s working capital requirements.
Utssav Cz Gold Jewels IPO’s book running lead manager is Choice Capital Advisors Pvt Ltd, while the issue’s registrar is Bigshare Services Pvt Ltd. Option Equity Broking is the market maker for the Utssav Cz Gold Jewels initial public offering.
Utssav CZ Gold Jewels IPO GMP today
Utssav CZ Gold Jewels IPO GMP is +25. This indicates Utssav CZ Gold Jewels share price were trading at a premium of ₹25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Utssav CZ Gold Jewels share price was indicated at ₹135 apiece, which is 22.73% higher than the IPO price of ₹110.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.’
