Kenvi Jewels Limited is engaged in manufacturing and retailing of jewelry. It is Ahmadabad based company. This company also engaged in wholesaling and trading of gold jewelry. Kenvi Jewels Limited is selling gold jewelry made with or without studded diamonds, precious and semi-precious stones. The company’s initial public offering or IPO will be open for application in the primary markets starting from 2nd of February 2018. Let me check the draft prospectus of the company submitted to SEBI and check the issue date, issue price and also present the Kenvi Jewels Limited IPO Review for you.
About Kenvi Jewels Limited IPO :
- IPO Opens on – February 2, 2018
- IPO Closes on – February 7, 2018
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 36 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 3000 shares.
- Minimum Order Quantity – 3000 shares.
- Issue Size – 1,860,000 Equity Shares of Rs 10 aggregating up to Rs 6.70 Cr.
- Listing Exchange – BSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- To meet working capital requirement.
- To meet the expenses of the Issue.
About The Company –
- Kenvi Jewels Limited is incorporated in 2013.
- This company’s product portfolio includes Wedding Jewellery, Festive Jewellery, Rings, Chain, Earrings, Ear Chain, Nose-rings/Nose pins, Waist belts, Mangalsutra, Anklet, Zuda, Toe Ring, Pendant Set/ Pendant, Bracelet and Bangles.
- KJL (Kenvi Jewels Limited) is retail business is done through its showroom situated at Odhav, Ahmedabad.
- This company sell its jewellery under the brand name of ‘Suvarnakrupa’.
- Kenvi Jewels Limited is buy its raw materials from bullion market & local markets in Ahmedabad which is then designed and moulded into gold jewellery.
- This company offers an extensive collection of precious, glittering and glamorous diamond jewelry with impeccable craftsmanship.
- The collection of this company is includes pieces studded with rubies, emeralds, pearls and diamonds ranging from modern fusion jewelry to gorgeous wedding sets that appeals to the new age bride.
Promoters of the company :
- Mr. Chirag Champaklal Valani, aged 35 years is the Promoter, Founder Director and Managing Director of this company.
- Mrs. Hetalben Chiragkumar Valani, aged 33 years is the Promoter, Founder Director and Whole Time Director of this company.
Kenvi Jewels Limited IPO Review: The financial statement submitted to SEBI reveals that the company had minimal profitability until the financial year 2017. But they have managed to increase the profits by multiple times in the year 2017. But this sudden hike can’t be taken into consideration for serious investors as the result must be a proven one that needs more time. Also the issue price of Rs. 36 looks like on the higher side. Hence our Kenvi Jewels Limited IPO Review is fully NEUTRAL on this issue. Invest at your own risk if you are too crazy on this issue.
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