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Shoora Designs IPO
Shoora Designs IPO will be open for public subscription on August 17th, and the issue will conclude on August 21st.
The Company is operational in the domain of manufacturing and trading diamond along with jewelry.
They will offer their shares at a price band of Rs 48 a piece at face value of Rs 10 per share. An investor can bid for 3000 shares in a single lot.
Objectives of Shoora Designs IPO
The objective of the issue is to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
Shoora Designs IPO Details
| IPO Date | Aug 17, 2023 to Aug 21, 2023 |
| Listing Date | 29 August 2023 |
| Face Value | ₹10 per share |
| Price | ₹48 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 424,000 shares (aggregating up to ₹2.03 Cr) |
| Fresh Issue | 423,000 shares (aggregating up to ₹2.03 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,075,662 |
| Share holding post issue | 1,498,662 |
Shoora Designs IPO Tentative Timetable
| IPO Open Date | Thursday, 17 August 2023 |
| IPO Close Date | Monday, 21 August 2023 |
| Basis of Allotment | Thursday, 24 August 2023 |
| Initiation of Refunds | Friday, 25 August 2023 |
| Credit of Shares to Demat | Monday, 28 August 2023 |
| Listing Date | Tuesday, 29 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 21, 2023 |
Shoora Designs IPO Reservation
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 27,000 (6.38%) |
| Other Shares Offered | 198,000 (46.81%) |
| Retail Shares Offered | 198,000 (46.81%) |
| Total Shares Offered | 423,000 (100%) |
Shoora Designs IPO Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 0.75 | 15.03 | 168.99 |
| Revenue | 16.26 | 210.61 | |
| Profit After Tax | -0.50 | 3.91 | 11.46 |
| Net Worth | 0.50 | 4.41 | 158.59 |
| Reserves and Surplus | -0.50 | 3.41 | 51.02 |
| Total Borrowing | 0.30 |
Shoora Designs IPO Promoters
The Company’s promoters included Mr. Satish K Kansodariya, Mrs. Sejalben Satish Kansodariya, and Mr Rajeshbhai Labhubhai Mer.
Shoora Designs Limited Company Background
Shoora Design Limited was formulated in 2021, and its core business was “Textiles and Apparel” In the following year, the Company’s objective was amended to manufacturing and trading jewelry and diamonds.
Since 2022, the Company has been procuring rough diamonds through suppliers, internally planning and mapping rough diamonds, and outsourcing the process of cleaving, laser cutting, and polishing from local job-workers in Surat’s domestic market and selling the said polished cut diamonds.
Shoora Designs Industry Overview
The diamond industry is undergoing major changes that will impact the future landscape.
One of the visible trends is using AI at an extensive level, as it helps improve the accuracy and efficiency of various processes, including sales, exploration, and mining.
Shoora Designs IPO GMP
According to market sources, the latest GMP price of Shoora Designs issue is 0.
Coming to the grey market, it is an unofficial platform for trading in IPO shares and is tracked due to its ability to gauge the issue price.
Wrap Up on Shoora Designs Limited IPO
Shoora Designs is operational in a competitive landscape and has experienced negative cash outflows earlier.
The ability of the Company to sustain the same economic growth as in FY is still being determined. Hence potential investors should evaluate all the factors before participating in the IPO.
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