IPO Details

Bidding Dates

24 Jul '23 - 28 Jul '23

Minimum Investment

₹140,000 / 1 Lots (1000 Shares)

Price Range

₹140

Maximum Investment

₹140,000 / 1 Lots (1000 Shares)

Retail Discount

Not Applicable

Issue Size

₹96.74 cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

Khazanchi Jewellers IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jul 24, 2023

IPO Closing Date

Jul 28, 2023

Basis of Allotment

Aug 2, 2023

Initiation of Refunds

Aug 3, 2023

Credit of Shares to Demat

Aug 4, 2023

IPO Listing Date

Aug 7, 2023

UPI mandate confirmation

Jul 28, 2023

Khazanchi Jewellers IPO Subscription Details

DateNIIRetailTotal

Day 1Jul 24, 2023

 0.26 0.13 0.19

Day 2Jul 25, 2023

 0.86 0.26 0.56

Day 3Jul 26, 2023

 1.18 0.38 0.78

Day 4Jul 27, 2023

 1.41 0.53 0.97

Khazanchi Jewellers IPO Subscription Live Status

Investor Category Subscription (Times)
Non-Institutional Buyers 1.41
Retail Investors 0.53
Total 0.97

About Khazanchi Jewellers

Khazanchi Jewellers is a prominent player in the Indian jewellery industry, specialising in the production and sale of a wide range of jewellery products. The company’s promoters enjoy over 25 years of expertise in the field. Products include gold, precious stones, diamond jewellery, and bullion in the form of coins and bars. But they focus on creating exquisite wedding jewellery and other designs suitable for festive occasions.

They source their gold from a group company and from other private players. After production, the jewellery is then placed on show in the retail shops. In case of specific customer demands, the designing is done via independent artisans. Customers include both retail and institutional ones. All of their products are insured.

India’s gems and jewellery market size was at US$ 78.50 billion in FY 2021. The government is aiming at US$ 70 billion in jewellery exports per year by 2025, a 100% jump from US$ 35 billion in 2020. The government has reduced customs duties and set up free trade agreements with countries like UAE to increase exports. The growing market and exports offers Khazanchi Jewellers the opportunity to expand its revenues and operations in the coming years.

Khazanchi Jewellers Ltd IPO Details

Khazanchi Jewellers is a 100% fresh issue IPO comprising 69,10,000 shares. It is a fixed price issue with a price of ₹140 per share. Retail investors can bid for the Khazanchi Jewellers IPO that will open on July 24th 2023. The IPO will list on the NSE exchange on August 7th 2023.

Khazanchi Jewellers Ltd IPO Objectives 

The company wants to use the net proceeds from the issue to:

  1. Finance the establishment of the new showroom in Chennai, Tamil Nadu. This includes both capital expenditure for the showroom and additional inventory costs.
  2. To augment the working capital requirements of the existing operations.
  3. For general corporate purposes.

Peer Details

The competitors of Khazanchi Jewellers Ltd include various big and small players. Companies declared by Khazanchi Jewellers itself as its peer include:

  1. Deep Diamond India Limited
  2. Eighty Jewellers Limited
  3. Moksh Ornaments Limited

Highlights of Khazanchi Jewellers Ltd 

  • Presently, around 95% of the total revenue of the company comes from institutional sales.
  • The purchase of stock-in-trade makes up most of their costs.
  • The company has seen overall negative cash flow in the year ending 31st March 2023. In the past three years, at least one out of the following three has been negative:
    1. Cash flow from operating activities
    2. Cash flow from investing activities
    3. Cash flow from financing activities

Khazanchi Jewellers Company Financials

Particulars Period Ending on 31st March ’23 Year ending on 31st Mar’22 Year ending on 31st Mar’21
Total Income (in ₹ lakhs) 48,181.65 25,799.75 38,242.89
Profit After Tax (in ₹ lakhs) 756.49 756.49 275.58
To Be Announced As of 31st March ’23 As of 31st Mar’22 As of 31st Mar’21
Current ratio 2.32 2.65 2.48
Return on Capital Employed 18.91% 10.27% 11.45%
Inventory Turnover Ratio (in days) 88.66 146.64 89.63

Know before investing

Strengths

4

  1. They are an experienced player in this market, which gives them strong branding and trust.

  2. They have a wide product range as well as connections with third party artisans, which helps them meet a variety of needs of different customers.

  3. They have multiple group companies that can help source raw materials and finance operations.

  4. With a strong brand existing, they are poised to scale their operations by investing in infrastructure.

Risks

4

  1. Their operations are concentrated in Chennai only. Therefore, local disruption due to natural or political causes can severely affect its business.

  2. Since they change their jewellery designs frequently, they do not register them under Designs Act, 2000. So anyone can copy their designs.

  3. Their business has a significant need for regular working capital, which exposes them to interest rate risk.

  4. They are dependent upon a few suppliers for the supply of raw materials.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
Play Button

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Play Button

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Khazanchi Jewellers IPO FAQs

What is Khazanchi Jewellers Ltd IPO?

The Khazanchi Jewellers Ltd IPO contains 100% fresh IPO worth almost ₹96.74 crores. The issue comprises 69,10,000 shares and is priced at ₹140 per share. The listing will happen on August 7th 2023.   

When will Khazanchi Jewellers Ltd IPO be allotted?

The Basis of Allotment will happen on Wednesday,  August 2nd 2023.

When will Khazanchi Jewellers Ltd IPO open for subscription?

The IPO subscription window will open on Monday, July 24th 2023.

What minimum lot size can retail investors subscribe to?

The minimum lot size consists of 1000 shares.

 

When will Khazanchi Jewellers Ltd list on exchanges?

Khazanchi Jewellers Ltd IPO will list on the BSE SME exchange on August 7th 2023.

How do I check the allotment status of the Khazanchi Jewellers Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Validate with an OTP
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Khazanchi Jewellers Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is August 7th 2023, for Khazanchi Jewellers Ltd IPO.

I have finished the application process for the Khazanchi Jewellers Ltd IPO, but the funds still need to be debited. What is the reason?

 Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Khazanchi Jewellers Ltd IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Khazanchi Jewellers Ltd using one PAN?

You can submit only one application using your PAN card.