Incorporated in 1996, Khazanchi Jewellers Limited is a Chennai-based company engaged in the Jewellery segment. The organization started its operations in 1989 and today marks its presence in both the wholesale and retail sectors.
Khazanchi Jewellers primarily deals in Gold and Silver Jewelry. Their wide product range constitutes earrings, necklaces, chains, pendants, rings, bangles, bracelets, nose pins, mangalsutra and so on.
The company has one showroom located at No. 130, NSC Bose Road, Sowcarpet Chennai. To further its business, the entity intends to establish more such showrooms in the same city through funds to be received by way of the IPO.
Other enterprises of the Khazanchi Jewellers Groups are Sutaliya Finance Private Limited, Khazanchi Silvers Private Limited, Silverslane Proprietorship firm, Pathik Sales Private Limited, and KJ Estates Partnership Firm.
Khazanchi Jewellers Limited is led by Mr. Tarachand Mehta, Managing Director, and Mr. Goutham, Executive Director of the company.
Khazanchi Jewellers had positive financial reports over the past years. For the financial years 2020, 2021, and 2022, the PAT of the company was Rs. 230.71 lakhs, Rs. 275.58 lakhs, and Rs. 326.62 lakhs, respectively.
Khazanchi Jewellers IPO Details
| IPO Date | Jul 24, 2023 to Jul 28, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹140 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 6,910,000 shares (aggregating up to ₹97.00 Cr) |
| Fresh Issue | 6,910,000 shares (aggregating up to ₹96.74 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 17,836,900 |
| Share holding post issue | 24,746,900 |
| Market Maker portion | 346,000 shares Svcm Securities |
Khazanchi Jewellers IPO Reservation
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 346,000 (5.01%) |
| Other Shares Offered | 3,282,000 (47.50%) |
| Retail Shares Offered | 3,282,000 (47.50%) |
| Total Shares Offered | 6,910,000 (100%) |
Khazanchi Jewellers IPO Timetable (Tentative)
Khazanchi Jewellers IPO opens on Jul 24, 2023, and closes on Jul 28, 2023.
| IPO Open Date | Monday, 24 July 2023 |
| IPO Close Date | Friday, 28 July 2023 |
| Basis of Allotment | Wednesday, 2 August 2023 |
| Initiation of Refunds | Thursday, 3 August 2023 |
| Credit of Shares to Demat | Friday, 4 August 2023 |
| Listing Date | Monday, 7 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jul 28, 2023 |
Khazanchi Jewellers IPO Lot Size
The Khazanchi Jewellers IPO lot size is 1000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹140,000 |
| Retail (Max) | 1 | 1000 | ₹140,000 |
| HNI (Min) | 2 | 2,000 | ₹280,000 |
| Lot Size Calculator |
Khazanchi Jewellers IPO Promoter Holding
Mr Tarachand Mehta and Mr. Goutham are the Promoters of the Company.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 10,379.93 | 36,165.36 | 230.71 | 2,269.33 | 1,276.21 | 7,786.00 |
| 31-Mar-21 | 11,319.79 | 38,242.89 | 275.58 | 2,544.91 | 1,551.79 | 7,480.12 |
| 31-Mar-22 | 12,436.20 | 25,799.75 | 326.62 | 2,871.53 | 1,878.41 | 8,412.38 |
| 31-Mar-23 | 14,506.80 | 48,181.65 | 756.49 | 3,604.99 | 2,611.87 | 8,462.47 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 45.75 |
| Market Cap (₹ Cr.) | 346.46 |
| ROE | 20.98 |
| ROCE | 18.91 |
| Debt/Equity | 1.45 |
| EPS (Rs) | 7.62 |
| RoNW | 20.98% |
Check Khazanchi Jewellers IPO Peer Comparison here.
Objects of the Issue
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- To finance the establishment of the new showroom at Chennai, Tamil Nadu – (a) Capital Expenditure for the new showroom, (b) Inventory cost for the new showroom
- To augment the working capital requirements of the existing operations and
- For general corporate purposes
Khazanchi Jewellers IPO Review (Avoid)
[Dilip Davda] KJL operates in a highly competitive and fragmented segment with many players around. The sudden boost in its top and bottom line for FY23 raise eyebrows and concern over the sustainability going forward. Even on the basis of FY23 super earnings, the issue appears exorbitantly priced. There is no harm in skipping this pricey issue. Read detail review…
Khazanchi Jewellers IPO Subscription Status (Bidding Detail)
The Khazanchi Jewellers IPO is subscribed 0.89 times on Jul 27, 2023 2:55:00 PM. The public issue subscribed 0.46 times in the retail category, [.] times in the QIB category, and 1.30 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.30 | 32,82,000 | 42,82,000 |
| Retail | 0.46 | 32,82,000 | 15,12,000 |
| Total | 0.89 | 65,64,000 | 58,18,000 |
Total Application : 1,672 (0.51 times)
*Market Maker portion is not included to NII/HNI.
Khazanchi Jewellers IPO Prospectus
Company Contact Information
Khazanchi Jewellers Limited
No: 130,
NSC Bose Road, Sowcarpet,
Chennai-600 079
Phone: +91 44 4201 5915
Email: info@khazanchi.co.in
Website: http://www.khazanchi.co.in/
Khazanchi Jewellers IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/