Moksh Ornaments is engaged in the business of manufacture and wholesale of jewelry. It is Mumbai based company. Moksh Ornaments primarily sells gold jewelry and its product profile includes bangles, chains and mangalsutras. This company gets its products designed by third-party designers. Their IPO will be open for application very soon. Hence, let me quickly take you through the Moksh Ornaments Limited IPO review in this post.
About Moksh Ornaments Limited IPO :
- IPO Opens on – December 21,2017.
- IPO Closes on – December 26,2017.
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 37 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Market Lot – 3000 shares.
- Minimum Order Quantity – 3000 shares.
- Issue Size – 2,982,000 Equity Shares of Rs 10 aggregating up to Rs 11.03 Cr.
- Listing Exchange – NSE SME exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Funding of working capital requirements of the Company.
- Repayment of certain Unsecured Loan availed by the Company.
- Issue Expenses.
About The Company –
- Moksh Ornaments is incorporated in 2012.
- This company procure the required gold from various banks and local markets.
- Customers of the company get the jewellery hallmarked from BIS recognized Assaying and Hallmarking Centre.
- This company has contributed its bit by carving designs of gold jewellery and specialist in various types of gold bangles, a brand that offers a tantalizing blend of modern and traditional jewellery.
- Moksh ornaments ventured out in 86 and since then has attained tremendous heights.
- All the products of this company are hallmarked, which is your guarantee of gold’s quality.
- This company has been guided by only one principle and that is we must offer the customer the best because they deserve the best.
Promoters of the company :
- Amrit J. Shah, aged 45 years, is the Promoter and Managing Director of this company.
- Jawanmal M. Shah aged 74 years, is Promoter and Whole-Time Director of this company.
Moksh Ornaments Limited IPO Review: The company did not have a great track record till the financial year of 2017. Suddenly the turnover and the earnings had seen a magical jump on FY 2017. The less track record is one of the cons in this issue. While the issue price of Rs. 37 at current earning looks reasonable and that is in the pros. Hence, our Moksh Ornaments Limited IPO review has a NEUTRAL view on this issue. Risk takers and cash surplus investors can apply and hold for long-term view.