Ashapuri Gold Ornament IPO Review (Date, Price, DRHP)

Ashapuri Gold Ornament Limited is engaged in the business of wholesale trading of gold jewelry. This company’s products portfolio includes Ring, Nose Ring, Bangles, Earring, Anklets, Necklace, Pendant etc. The article will reveal Ashapuri Gold Ornament IPO Review along with issue details.

Ashapuri Gold Ornament IPO Review Issue Details :

  • IPO Opens on – March 13, 2019.
  • IPO Closes on – March 18, 2019.
  • Face Value – Rs.10 Per Equity Share.
  • Issue Price – Rs.51 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 2000 Shares.
  • Minimum Order Quantity – 2000 Shares.
  • Issue Size – 5,750,000 Equity Shares of Rs. 10 aggregating up to Rs.29.33 Cr.
  • Listing Exchange – BSE SME Exchange.
  • Draft Prospectus – Download

Objectives of the issue of the Company :

  • Establishment of jjewelrymanufacturing unit of Ashapuri Gold Ornament Limited.
  • Investment in partnership firm of this company.
  • Meeting working capital requirements of Ashapuri Gold Ornament Limited.
  • General corporate purposes of this company.

About The Company –

  • Ashapuri Gold Ornament Limited was incorporated in 2008.
  • This company sell antique, traditional, bridal contemporary and combination designs which cater diversified customer segments.
  • Ashapuri Gold Ornament Limited is having a showroom of 2945 sq. feet in Ahmedabad.
  • This company only sell Hallmark certified jewellery and those are manufactured on Job work basis at Ahmedabad and Rajkot.
  • Ashapuri Gold Ornament Limited has also entered into a partnership with Blue-Onxy Lifestyle which carrying business of Branded Ready made Garments.
  • This company also have the plan to open multiple chains of showrooms of Ready made Garments over a period of time in various cities across Gujarat.
  • Ashapuri Gold Ornament Limited currently employs 9 employees on its payroll.
  • This company manufacturing expertise, the large inventory of designs and high quality of service has made it possible to be in league of top jewellery suppliers.

Ashapuri Gold Ornament Limited

LOCATION :

109 to 112-A, Super Mall,
Nr. LalBunglow, C G Road,
Ahmedabad – 380 009,
Gujarat, INDIA.
Phone : +91-79 2646 2170-71,
Mobile : 98246 14208
Email : [email protected]/ [email protected]

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The promoter of Ashapuri Gold Ornament Limited :

  • Mr. Saremal Soni, aged 73 years is the Promoter, Chairman cum Managing Director of this company.
  • Mr. Dinesh Soni, aged 40 years is the Promoter, Managing Director of this company.
  • Mr.Jitendra Soni, aged 37 years is the Promoter, Joint Managing Director of this company.

The Board of Directors of this company :

  • Mr. Saremal Soni, aged 73 years, is the Promoter and Chairman Cum Managing director of this company.
  • Mr. Dinesh Soni, aged 40 years, is the Promoter and Managing Director of this company.
  • Mr. Jitendra Saremal Soni, aged 37 years, is Promoter and Joint Managing Director of this company.
  • Mr. Jignesh Pandya, aged 43 years, is an Independent Director of this company.
  • Mr. Bhavesh Patadiya, aged 35 years, is an Independent Director of this company.
  • Mrs. Alka Kamdar aged 47 years, is an Independent Director of this Company.

Competitive Strengths of Ashapuri Gold Ornament Limited :

  • The main competitive strength of Ashapuri Gold Ornament Limited is a vast experience of over 2 decades with sound market knowledge.
  • Prime Location of this company’s Showroom is another strength.
  • Strong distribution network is one of the competitive strength of Ashapuri Gold Ornament Limited.
  • Design, Innovation and Product range of this company.
  • Long term relations with clients is the most important competitive strength of Ashapuri Gold Ornament Limited.

SWOT Analysis of This Company :

  • Strength –
  1. The Promoters of Ashapuri Gold Ornament Limited have been involved in the Jewellery business since last two decades.
  2. Very good reputation and trust in the market.
  3. Most of Ashapuri Gold Ornament Limited’s designs are very antique and unique.
  4. This company’s showroom is located at a prime location i.e. C.G Road, Ahmedabad.
  5. Understanding of Customer Preferences of Ashapuri Gold Ornament Limited.
  • Weakness –
  1. Ashapuri Gold Ornament Limited’s geographical area of Operations.
  2. Family owned unitof this company resulting in Lack of Professionalism.
  • Opportunity –
  1. To tie-up with large chain jewellery retail stores of Ashapuri Gold Ornament Limited for the supply of jewellery.
  2. This company is a major partner in Blue Onyx and intends to open multiple chains of Showrooms in Branded Ready made Garments sector.
  • Threat –
  1. Ashapuri Gold Ornament Limited may face competition from organized and unorganized sector.
  2. Dealing in lifestyle products, the economic slowdown will reduce the demand and hamper the growth of this company.

Business strategies of Ashapuri Gold Ornament Limited :

  • The main business strategies of Ashapuri Gold Ornament Limited is entering in to Long Term Supply agreement with the Branded Company.
  • Commence the manufacturing activities are another strategy of this company.
  • One of the business strategies of Ashapuri Gold Ornament Limited is the development of ready made Garment Business.

Company Financials :

Ashapuri Gold Ornament IPO

Ashapuri Gold Ornament IPO Review :

The attachment reflects the profit-loss statement of the company. The Net profit is too poor for the last three financial years. Now, we will concentrate on the company prospectus. In the fiscal period of 2018, EPS (earnings per share) stands at 7.30 (pre bonus). Based on the EPS, P/E ratio was 6.99. According to the FY2018, RoNW (return on net worth) was 1.11. Based on our analysis Ashapuri Gold Ornament IPO Review carries a NEGATIVE view. Investors may apply for it but at their own risk.



Categories: IPO Review

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