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30 April 2024

Koura Fine Diamond Jewelry Limited IPO

Koura Fine Diamond Jewelry Ltd. 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 Gemological Institute, India, for diamonds. Since the system of hallmarking is legally introduced, the company deals only in jewelry certified by hallmark for gold jewelry it gets it certified from the Bureau of Indian Standards (BIS) and 91.6% certifications for 22 Karat and International Gemological Institute, India, and (BIS) 75% certifications for 18 Karat diamond jewelry it gets certified from.

Further, in 2018 our Company ventured into 750 certified and BIS-hallmarked diamond jewelry. Koura Fine Diamond Jewelry IPO is a fixed price issue of Rs 5.50 crores. The issue is entirely a fresh issue of 10 lakh shares. Koura Fine Diamond Jewelry IPO price is ₹55 per share. The minimum lot size for an application is 2000 Shares. GYR Capital Advisors Private Limited is the book running lead manager of the Koura Fine Diamond Jewelry IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Koura Fine Diamond Jewelry IPO is Giriraj Stock Broking.

Koura Fine Diamond Jewelry IPO Overview

Detail	Description
IPO Date	March 6, 2024 to March 11, 2024
Listing Date	March 14, 2024
Face Value	₹10 per share
Price	₹55 per share
Lot Size	2000 Shares
Total Issue Size	1,000,000 shares (aggregating up to ₹5.50 Cr)
Fresh Issue	1,000,000 shares (aggregating up to ₹5.50 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Share holding pre issue	2,601,500
Share holding post issue	3,601,500
Market Maker portion	70,000 shares

Koura Fine Diamond Jewelry IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Wednesday, March 6, 2024
IPO Close Date	Monday, March 11, 2024
Basis of Allotment	Tuesday, March 12, 2024
Initiation of Refunds	Wednesday, March 13, 2024
Credit of Shares to Demat	Wednesday, March 13, 2024
Listing Date	Thursday, March 14, 2024
Cut-off time for UPI mandate confirmation	5 PM on March 11, 2024

Koura Fine Diamond Jewelry IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹110,000
Retail (Max)	1	2000	₹110,000
HNI (Min)	2	4,000	₹220,000

Koura Fine Diamond Jewelry IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	70,000 (7.00%)
Other Shares Offered	464,000 (46.40%)
Retail Shares Offered	466,000 (46.60%)
Total Shares Offered	1,000,000 (100%)

Koura Fine Diamond Jewelry IPO Promoter Holding

Share Holding Pre Issue	100%
Share Holding Post Issue	72.23%

Company & Financials

The company was established in 2022, Koura Fine Diamond Jewelry Limited specializes in the wholesale trade of gold and diamond jewelry. The company deals exclusively in jewelry that is certified by Hallmark. For gold jewelry, the company obtains certification from the Bureau of Indian Standards (BIS) with 91.6% certifications for 22 Karat and from the International Gemological Institute, India, and (BIS) with 75% certifications for 18 Karat diamond jewelry. The company has been successfully operating in Gujarat and Odisha, both in the western and eastern regions.

Koura Fine Diamond Jewelry Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023
Assets	352.53	327.34
Revenue	601.84	556.35
Profit After Tax	17.01	13.41
Net Worth	286.06	269.06
Reserves and Surplus	25.91	221.76
Total Borrowing	48.84	51.80
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	6.13%
ROCE	7.64%
Debt/Equity	0.17
RoNW	5.95%
P/BV	5
PAT Margin (%)	2.83

	Pre IPO	Post IPO
EPS (Rs)	0.52	0.94
P/E (x)	106.7	58.23

Objectives of Koura Fine Diamond Jewelry IPO

The company proposes to utilize the funds which are being raised through this Issue ("Net Proceeds") towards the following objectives:

1. Funding the working capital requirements of the company.
2. General Corporate Purposes.

Koura Fine Diamond Jewelry IPO Review

The company does wholesale business in gold and diamond jewelleries. It trades on a B2B model on third party contracts. It posted just 18 months working which is listless against asking price. Based on FAY24 annualized earnings, the issue appears exorbitantly priced. Tiny equity capital post-IPO indicates longer gestation for migration to mainboard. There is no harm in skipping this pricey bet.

FAQs for Koura Fine Diamond Jewelry IPO

What Is The Size Of The Koura Fine Diamond Jewelry Tech IPO?

Koura Fine Diamond Jewelry IPO consists of a fresh issue of 10 lakh shares worth INR 5.5 crores. The company seeks funds to meet the working capital.
When will Koura Fine Diamond Jewelry Ltd IPO be allotted?

The basis of allotment will be done on Tuesday, March 12, 2024. The credit of shares to the demat account will be on Wednesday, March 13, 2024.
When will Koura Fine Diamond Jewelry Ltd IPO open for subscription?

The IPO will open for subscription from March 6, 2024, to March 11, 2024.
When will Koura Fine Diamond Jewelry Ltd list on exchanges?

Koura Fine Diamond Jewelry Ltd IPO will be listed on the BSE SME exchange on Thursday, March 14, 2024.
What Is The Price Band Of Koura Fine Diamond Jewelry Tech IPO?

The price band of the company is INR 55 per share.