Penta Gold Ltd IPO Review (Date, Price, Prospectus)

Penta Gold Ltd IPO

Penta Gold Ltd (PGPL) is engaged in wholesale distribution of jewellery, precious stones and metals, costume jewellery, watches, clocks, and silverware. It’s offices at Ahmedabad and Mumbai. They have a retail outlet in Mumbai. Penta Gold Ltd export products (gold jewellery studded with diamond) to overseas buyers and also sells to wholesalers domestically & they primarily sell gold jewellery i.e. Chains, Rings, Bangles, Necklace, Mangalsutra, Bracelet, Earrings and other jewellery studded or non-studded with pearls, diamonds, American diamonds and other precious stones. In this post we will check the Penta Gold Ltd IPO review and will check in case there is any profit opportunity in this public issue.

About Penta Gold Ltd IPO :

  • IPO opens on – 4th September, 2017
  • IPO closes on – 6th September, 2017
  • Face Value – Rs. 10 per equity share
  • Issue Price – Rs. 35 per equity share
  • Minimum Lot Size – 4000 shares
  • Equity Shares Offered – 32,68,000 equity shares
  • Equity Shares prior to the offer – 91,25,850 equity shares
  • Equity Shares after the offer – 1,23,93,000 equity shares
  • Issue Constitutes – 26.37% (Post offer paid-up Equity Share Capital)
  • Issue Size – Around Rs.11.43 cr. (Market cap Rs.43.37 crores)
  • Issue Type – Fixed Price.
  • Listing At – NSE SME Exchange

Objectives of the Issue :

  • Augmenting additional working capital requirements.
  • Meeting Issue Expenses.

About The Company –

  • Into Jewellery manufacturing / trading, Billion trading, E-commerce and retail jewellery stores.
  • Procures required gold from various Banks. We also procure gold and precious stones from local markets.
  • Outsources to manufacture of jewellery to various domestic corporate, local artisans and craftsmen.
  • Recognized as “One Star Export House” from directorate General of Foreign Trade, Ministry of  Commerce & Industry, Government of India.
  • Exports Contributes around 22.23% of the Revenue.

Penta Gold Ltd IPO Review

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Penta Gold Ltd IPO Review pg

Name of Top Shareholders :

  • Ketan M. Shroff.
  • Pinakin Shroff.
  • Sulochana Shroff.
  • Dipti Shroff.
  • Dharmendra Shroff.
  • Anita Shroff.
  • Vatsal Shroff.

Company Financials:

Penta Gold Ltd

Promoter of the Company :
Ketan M. Shroff’s equity shares 39,36,500 and the average cost of acquisition Rs. 9.59.

Penta Gold Ltd IPO Review: Once again we warn investors about Indian markets are hovering near reaord highs and recent IPOs are fully priced, our Penta Gold Ltd IPO review stays with a NEUTRAL view on this public issue. Do not invest unless and until you have surplus cash.

2 thoughts on “Penta Gold Ltd IPO Review (Date, Price, Prospectus)”

  1. the response to IPO was very bad, only 6 retail investors and they are related to promoters. The purpose of the IPO is to meet Issue Expenses which is a clear indicator that the whole IPO seems to be a fraud.

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