Koura Fine Diamond Jewelry Ltd IPO: Review, Date & GMP

Koura Fine Diamond Jewelry Limited IPO  - Complete Overview

Established in 2022, Koura Fine Diamond Jewelry Limited specializes in the wholesale trade of gold and diamond jewelry. 

The company offers a diverse range of jewelry products, focusing on a B2B model. Its inventory includes 22 Karat gold jewelry and 18 Karat diamond jewelry, all certified by the BIS for gold and the International Gemmological Institute, India, for diamonds. 

Additionally, since 2018, the company has expanded its offerings to include 750 certified and BIS-hallmarked diamond jewelry. 

Operating successfully in Gujarat and Odisha, covering both western and eastern regions, Koura Fine Diamond Jewelry Limited has established a strong presence in the market.

Koura Fine Diamond Jewelry Limited IPO Overview:

Koura Fine Diamond Jewelry Limited IPO date is slated to be open for subscription from March 6, 2024, to March 11, 2024. This BSE SME IPO follows a Fixed Price Issue IPO.

Koura Fine Diamond Jewelry Limited IPO price is fixed at Rs.55 per share. 

The total issue size of this IPO amounts to Rs.5.50 Cr. The company has reserved 50% for retail investors and 50% for other investors. 

Company Financial

Compared to the March to Sep. 2023 fiscal year, Koura Fine Diamond Jewelry Limited has seen growth in total assets, net worth, and total revenue. The profit after tax has increased, while total borrowings reduced.

(Amount in Lakhs)

Period	30 Sep 2023	31 Mar 2023
Total Assets	352.53	327.34
Total Revenue	601.84	556.35
PAT	17.01	13.41
Net worth	286.06	269.06
Reserve & Surplus	25.91	221.76
Total Borrowings	48.84	51.80

 

Product wise Revenue Break up

(Amount in lakhs)

Particulars	31 Mar 2023	30 Sep 2023
Gold Jewelry	25.09	0.30
Diamond  Jewelry	530.24	601.51
Total	555.34	601.81

 

State wise Revenue Break up

(Amount in lakhs)

State	31 Mar 2023	30 Sep 2023
Gujarat	377.41	314.91
Oddisha	158.16	286.90
Maharastra	19.77	-
Total	555.34	601.81

 

The Objective of the Issue

The Company proposes to utilize the funds of net proceeds to fulfil the following objectives: 

a) Funding the working capital requirements of the company 

b) General Corporate Purposes

 

 

Peers of Koura Fine Diamond Jewelry Limited IPO

Name of the company	Face Value (₹)	EPS (₹)	P/E Ratio
Koura Fine Diamond Jewelry Limited	10.00	55.89	0.89
Ashapuri gold ornament Limited	10.00	0.71	107.63
Vaibhav Global Limited	10.00	6.05	49.85
Tribhovandas bhimji Zaveri Limited	10.00	5.95	13.24

 

IPO's Strengths 

• Substantial market opportunity.

• Diverse array of designs and products available.

• The promoter possesses extensive experience and sound market knowledge.

• Established long-term relationships with clients.

• Sole dedication to the B2B wholesale jewellery segment.

IPO weaknesses 

• Limited operating history characterizes the company.

• Reliance on third-party suppliers for raw materials introduces potential quality fluctuations in the final product.

• A substantial portion of the company's revenue hinges on its top five customers.

• Sales and income of the company are susceptible to seasonal variations.

• Past records indicate negative cash flows from the company's operations and investments.

• Failure to register jewellery designs under the Designs Act, 2000 exposes the company to potential income loss from competitors duplicating its designs.

 

 

IPO GMP Today

The Latest GMP of Koura Fine Diamond Jewelry Limited IPO is Rs.60.

Koura Fine Diamond Jewelry Limited IPO timetable (Tentative)

Koura Fine Diamond Jewelry Limited IPO is scheduled from March 6 to March 11, 2024, with allotment on March 12, refund initiation on March 13, and listing on March 14, 2024.

Events	Date
IPO Opening Date	March 6, 2024
IPO Closing Date	March 11, 2024
IPO Allotment Date	March 12, 2024
Refund initiation	March 13, 2024
IPO Listing Date	March 14, 2024

Koura Fine Diamond Jewelry Limited IPO Details 

Koura Fine Diamond Jewelry Limited IPO, with a face value of Rs.10 per share, opens on March 6 and closes on March 11, 2024, offering 1,000,000 shares at Rs.55 per share, with a lot size of 2000 shares, aiming to raise Rs.5.50 Cr, and will be listed on BSE SME.

IPO opening & closing date	March 6, 2024 to March 11, 2024
Face value	₹10 per share
Issue Price	₹55 per share
Lot Size	2000 Shares
Price of 1 lot	₹110,000
Issue Size	1,000,000 shares (aggregating up to ₹5.50 Cr)
Offer for sale	NA
Fresh issue	1,000,000 shares (aggregating up to ₹5.50 Cr)
Listing at	BSE SME
Issue Type	Fixed Price Issue IPO
Registrar	Kfin Technologies Limited

Koura Fine Diamond Jewelry Limited IPO Lot Details 

For Koura Fine Diamond Jewelry Limited IPO, the retail investor minimum and maximum lot investments are both 1 lot (2000 shares) at Rs.110,000 while for HNI investors, the minimum investment is 2 lots (4000 shares) at Rs.220,000.

 

Minimum Lot Investment (Retail)	1 lot
Maximum Lot Investment (Retail)	1 lot
Minimum Lot Investment (HNI)	2 lot

 

 

 

Koura Fine Diamond Jewelry Limited IPO Reservation

Other Investors share Portion	50%
Retail Investors share Portion	50%

Promoters and Management of Koura Fine Diamond Jewelry Limited

• Kamlesh Keshavlal Lodhiya. 

Pre-issue Promoter shareholding	100%
Post-issue Promoter shareholding	72.23%

 

Koura Fine Diamond Jewelry Limited IPO Lead Managers:

• GYR Capital Advisors Private Limited 
  
  

Dividend Policy

The company has not issued any dividends in the past, and the potential for future dividend payments depends on the financial performance of the company.

 

 

Conclusion

Despite its limited operating history and presence in a highly competitive market, the company's promoter brings substantial experience of two decades in the industry. Although the company's financial performance is satisfactory, investors are encouraged to conduct a comprehensive analysis of all relevant factors before considering participation in the upcoming IPO.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

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