Sagar Diamonds Ltd is engaged in business of manufacturing and exporting of rough and polished diamonds. They are also engaged in the business of jewellery making and marketing. Sagar Diamonds sell a wide range of jewellery products including cut and polished diamond studded jewellery to diverse customer segments, from the value market to high-end customized jewellery. Here I will post Sagar Diamonds IPO review and once again will find out what are the investment scenario in this forthcoming issue.
About Sagar Diamonds IPO :
- IPO opens on – September 14, 2017
- IPO closes on – September 18, 2017
- Face value – Rs. 10 per equity share
- Issue price – Rs.40 – Rs.45 Per Equity Share.
- Issue type – Book Built Issue IPO.
- Minimum lot – 3000 shares.
- Minimum order quantity – 3000 Shares.
- Issue size – 3,381,000 Equity Shares of Rs 10 aggregating up to Rs 15.21 Cr
- Listing exchange – BSE SME Exchange.
- DRHP – Click here.
Objectives of the issue :
- To Meet working capital requirement.
- To meet the Issue Expenses.
- To meet General corporate purpose.
About The Company-
- Their product range includes rings, chain, mangalsutra, earrings and necklaces, which are carefully handcrafted by skilled artisans.
- They have independent sales and distribution networks for their products.
- Most of their cut and polished diamonds are exported to diamond wholesalers and the jewellery manufacturers in the export markets.
- They procure diamond from suppliers at domestic and international market depending upon the needs and requirement.
- Company’s manufacturing facility at their factory unit located in Sachin (S.E.Z), Gujarat having a total area of approximately 1,000 sq. ft. As on March 31, 2017, this facility had a capacity of Gold and Silver Jewellery of 35,000 gram per month.
- The Company was originally incorporated as Sagar Diamonds Private Limited on July 15, 2015 at Surat, Gujarat as a private limited company under the Companies Act, 2013 with the Registrar of Companies, Ahmedabad.
Promoter of the company :
Mr. Vaibhav Dipak Shah and SG Diamonds LLP (“SG Diamonds” or “SGD”).
Name of the top shareholders :
- Mr. Vaibhav Dipak Shah
- SG Diamonds LLP
- Ms. Nidhi Hitesh Chovatia
- Mr. Dhaval Dipak Shah
- Mr. Hitesh Chovatia
- Ms. Meeta Hitesh Chovatia
- Ms. Priya Dhaval Shah
- Mr. Rahil Hitesh Chovatia
Sagar Diamonds IPO Review : As the markets are trading at all time highs we are continuously asking readers to stay cautious. The current global political situation also needs to be watched with a close eye with the ongoing turmoil between USA and North Korea. In this situation we advise our readers to stay on cash and only invest in established brands.
There are other good IPOs likely to hit the exchanges soon. Hence our Sagar Diamonds IPO review stays with a NEUTRAL view and only risk savvy investors can think of investing.