Utssav CZ Gold Jewels Ltd IPO Timeline

Utssav CZ Gold Jewels Ltd IPO opens on 31-Jul-2024, and closes on 02-Aug-2024. The Utssav CZ Gold Jewels Ltd IPO bid date is from 31-Jul-2024 to 02-Aug-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Utssav CZ Gold Jewels Ltd IPO Opening Date 31-Jul-2024
Utssav CZ Gold Jewels Ltd IPO Closing Date 02-Aug-2024
Basis of Allotment 05-Aug-2024
Initiation of Refunds 06-Aug-2024
Credit of Shares to Demat 06-Aug-2024
Utssav CZ Gold Jewels Ltd IPO Listing Date 07-Aug-2024

Utssav CZ Gold Jewels Ltd IPO Lot Size

Utssav CZ Gold Jewels Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 132000).

Application Lots Shares Amount
Minimum 1 1200 ₹132000
Maximum 1 1200 ₹132000

Utssav CZ Gold Jewels Ltd IPO Details

Utssav CZ Gold Jewels Ltd IPO Date 31-Jul-2024 to 02-Aug-2024
Utssav CZ Gold Jewels Ltd IPO Face Value Shares of ₹10 per share
Utssav CZ Gold Jewels Ltd IPO Price ₹104 to ₹110 per share
Utssav CZ Gold Jewels Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹69.5 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹69.5 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Pankajkumar H Jagawat, Shashank Bhawarlal Jagawat, Rakesh Shantilal Jagawat.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding working capital requirements of the company
  • 2 General corporate purposes

Company Financials

Utssav CZ Gold Jewels Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 82.16 239.72 7.15
03-2022 56.16 123.43 3.34
03-2021 44.23 120.31 1.62
Amount in ₹ Crore
  • Established in 2007, the Company offers wide range of lightweight jewellery across 18K, 20K and 22K CZ gold and rose gold categories which are prominent categories in the daily and fashion wear jewellery segment.
  • The Company boasts a diverse team of skilled artisans and professionals with varied expertise in jewellery making.
  • The Company has long standing relationships with established brands in the domestic jewellery retailing market such as D.P. Abhushan Limited, Kalamandir Jewellers Limited, and numerous other esteemed clients. the Company has consistently delivered quality services and products, earning the trust and loyalty of the customers.
  • On the back of high demand of gold jewellery and higher contribution of 18K gold jewellery in the sales mix, The Company reported a strong business growth with improvement in the profitability.
  • The experience of its promoters holds immense significance. Mr. Pankajkumar H Jagawat and Mr. Shashank Bhawarlal Jagawat each contribute over sixteen (16) years of invaluable expertise, whereas Mr. Rakesh Jagawat brings over twelve (12) years of experience in the jewellery market.
  • Significant portion of its revenues is concentrated from a limited number of clients. The loss of any of the company significant clients may have an adverse effect on its business, financial condition and result of operations.
  • The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • The unexpected loss, shutdown or slowdown of operations at its manufacturing plant could have a material adverse effect on the company results of operations and financial condition.
  • The Company requires significant amount of working capital for continued growth. Its inability to meet the company working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.
  • Its business, operating performance, and financial situation could negatively impact the company capacity to adapt quickly to shifts in consumer expectations and market trends, as well as by the company failures to diversify its product offering.
  • Its CZ gold jewellery business faces risks from market volatility and changing consumer preferences. Fluctuations in commodity prices like gold could impact its costs and profitability. Evolving consumer tastes influence product demand, necessitating continuous adaptation to remain competitive.
  • The company has availed unsecured loans from Promoters and third parties that are recallable, at any time.
  • The company has experienced negative cash flows in the past, and its may have negative cash flows in the future.
  • The company may faces significant competition in its business. An inability to compete effectively may lead to loss of business or reduced operating margins.
  • The company has entered into related party transactions in the past and may continue to do so in the future.
  • In the past, there have been discrepancies in filings with the Registrar of Companies (RoC) and other non-compliances under the Companies Act, which may result in penalties.
  • Failures to manage its inventory could have an adverse effect on the company net sales, profitability, cash flow and liquidity.
  • Its insurance may be insufficient to cover all losses associated with the company business operations.
  • Its may incur losses if the company competitors imitate its designs due to the failures to register the company jewellery design under the Designs Act, 2000.
  • The company is subject to gold price fluctuations and its might not be able to procure gold at competitive prices for use in the company manufacturing.
  • The company trademark "UTSSAV CZ GOLD JEWELS Celebrations Forever" logo status is currently under objection. Failures to obtain the trademark registration could lead to difficulties in identification or mistaken association if the trademark is not officially registered under its name. This could potentially result in brand confusion, loss of market recognition, and legal challenges regarding the use of its logo.
  • The company operates its business from rented premises. Non-renewal of rent agreements could adversely impact the operations of the Company.
  • The company is required to obtain, renew or maintain certain statutory and regulatory permits and approvals required to operate its business. Non-compliance with existing or changes to environmental, health and safety, labour laws and other applicable regulations by it may adversely affect the company's business, financial condition, results of operations and cash flows.
  • If the company is unable to service its debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of its financing agreements, it may adversely affect the company's business, prospects, results of operations and financial condition.
  • Its manufacturing process requires deployment of skilled labour and designers with knowledge of CAD. In case of unavailability of such personnel, its business operations could be affected.
  • Changes in technology may render its current technologies obsolete or require the company to make substantial investments.
  • The company is dependent on its Promoters, Key management personnel and senior management personnel and the loss of, or its inability to attract or retain, such persons could affect the company's business, results of operations, financial condition and cash flows.
  • The average cost of acquisition of Equity Shares by its Promoters, could be lower than the issue price.
  • Fraud, theft, employee negligence or similar incidents may adversely affect its results of operations and financial condition.
  • Its ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • Its Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the offer, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • Any variation in the utilization of the Net Proceeds as disclosed in this the Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • Its Promoters and Directors have provided personal guarantees for financing facilities availed by the Company and may in the future provide additional guarantees and any failures or default by the Company to repay such facilities in accordance with the terms and conditions of the financing agreements could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters and Directors and thereby, adversely impact the company's business and operations.
  • If the company fails to procure the necessary raw materials, such as gold bars, alloys, and CZ stones, its may encounter delays that could impact the company market reputation. This situation could result in financial and operational losses, affecting its overall business performance.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and the same have not been appraised by any bank or financial institution or any independent agency. The deployment of funds is entirely at its discretion, based on the parameters as mentioned in the chapter "Objects of the Issue" on page 74.
  • The Company has not received the appropriate documentary evidence regarding the qualification certificates of its promoters, nor the experience certificate of one of the company's Senior Management Personnel (SMP).
  • Non-availability of credit ratings or a poor rating may restrict its access to capital and thereby adversely affect the comkpany's business and results of operations.
  • The company has contingent liabilities as stated in the Restated Financial Statement, and in the event, they materialize it could adversely affect its financial condition.
  • The Company has delayed in payment of statutory dues in the past under the statutory provisions of the Goods and Services Tax Act, 2017, the Employees Provident Funds and Miscellaneous Provisions Act, 1952 and for Employee State Insurance Act, 1948. Such non-compliance and delayed compliance may result in penalties, potentially affecting its financial position.
  • Its Group Companies are engaged in activities which is similar to its business. This may be a potential source of conflict of interest for it and which may have an adverse effect on the company's business, financial condition and results of operations.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Any future issuance of Equity Shares, or convertible securities or other equity linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
  • The requirements of being a publicly listed company may strain its resources.
  • The sale of Equity Shares by its Promoters in future may adversely affect the market price of the Equity Shares.
  • There is no guarantee that its Equity Shares will be listed on the and the NSE in a timely manner or at all.
  • Enhance our financial capabilities to facilitate the expansion of our business operations.
  • Expand its geographical presence in domestic as well as export market.
  • Continued focus on creative designs.
  • Focus on improving Operating efficiency.
  • Improve Company's financial leverage ratio.

Utssav CZ Gold Jewels Ltd IPO Promoter Holding

Pre Issue Share Holding 81.55%
Post Issue Share Holding 59.91%

Utssav CZ Gold Jewels Ltd IPO Subscription Status (Bidding Detail)

The Utssav CZ Gold Jewels Ltd IPO is subscribed 44 times on Aug 02, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 44

Utssav CZ Gold Jewels Ltd IPO Prospectus

Utssav CZ Gold Jewels Ltd IPO Listing Date

Listing Date 07 Aug 24
BSE Script 93135
NSE Symbol UTSSAV
Listing In NSE - SME
ISIN INE06IJ01010
IPO Price ₹110
Face Value ₹10

Utssav CZ Gold Jewels Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Utssav CZ Gold Jewels Ltd IPO Lead Manager(s)

  1. Choice Capital Advisors Pvt Ltd

FAQs on Utssav CZ Gold Jewels Ltd IPO

Utssav CZ Gold Jewels Ltd IPO, which opens for subscription from 31-Jul-2024 to 02-Aug-2024 has an issue size of ₹69.5 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Utssav CZ Gold Jewels Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Utssav CZ Gold Jewels Ltd IPO Opens for subscription from 31-Jul-2024 to 02-Aug-2024.

The lot size of Utssav CZ Gold Jewels Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹132000 and ₹132000 respectively.

Allotment date for Utssav CZ Gold Jewels Ltd is 05-Aug-2024 and refund of application amount (in case allotment is not received) will begin from 06-Aug-2024. If your allotment goes through, then shares will be credited in your Demat account by 06-Aug-2024.

The registrar for Utssav CZ Gold Jewels Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Utssav CZ Gold Jewels Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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