Koura Fine Diamond Jewelry
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 06 Mar 2024 – 11 Mar 2024
- Listing date
- 14 Mar 2024
- Face value
- ₹10 per share
- Issue price
- ₹55 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹5.50 Cr
- Market cap at offer price
- ₹19.81 Cr
- Promoter holding
- 100.00% → 72.23% pre-issue → post-issue
- ISIN
- INE0M8R01011
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- 304, Iscon Emporio, B/S Star India Bazar Nr.Jodhpur, Cross Road, Satellite, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 70,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹55
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,10,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,20,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,90,000 |
| B-HNI (min) | 10 | 20,000 | ₹11,00,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 0.52 | 0.94 |
| P/E (×) | 105.77 | 58.51 |
| Price to book (×) | 5.00 | — |
| Market cap | — | ₹19.81 Cr |
Key performance indicators
- Return on net worth
- 5.95%
- ROCE
- 7.64%
- Debt / equity
- 0.17
- PAT margin
- 2.83%
- NAV per share
- ₹11
- Price to book
- 5.00
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Koura Fine Diamond Jewelry
Koura Fine Diamond Jewelry Limited was incorporated on March 25, 2022, and acquired the entire running business of M/s Aurum Jewels (the sole proprietorship of Promoter Mr. Kamlesh Keshavlal Lodhiya) on March 13, 2023. The company is engaged in supplying jewelry to retail jewelers, manufacturing primarily 22 Karat Gold jewelry and 18 Karat Diamond jewelry on a job work basis. The company operates as a well-known and trusted jewelry wholesaler in the Indian jewelry market, which consists of gold, silver, and diamond jewelry along with other precious gems and pearls.
Company Analysis
from DRHPKoura Fine Diamond Jewelry Limited is a jewelry wholesaler supplying gold and diamond jewelry manufactured on a job work basis to retail jewelers.
Koura Fine Diamond Jewelry Limited was incorporated on March 25, 2022, and acquired the entire running business of M/s Aurum Jewels (the sole proprietorship of Promoter Mr. Kamlesh Keshavlal Lodhiya) on March 13, 2023. The company is engaged in supplying jewelry to retail jewelers, manufacturing primarily 22 Karat Gold jewelry and 18 Karat Diamond jewelry on a job work basis. The company operates as a well-known and trusted jewelry wholesaler in the Indian jewelry market, which consists of gold, silver, and diamond jewelry along with other precious gems and pearls.
Objects of the Issue
- Funding the working capital requirements of the company Upto ₹450 lakhs p.19
- General Corporate Purposes p.19
- Funding the working capital requirements of the company 450.00 lakhs p.76
- General Corporate Purposes p.76
- Objects of the Offer not specified in this document section
Issue Structure
- Total Issue
- Up to ₹ [●] lakhs
- Fresh Issue
- Up to 10,00,000 equity shares of face value of ₹ 10/- each aggregating up to ₹ [●] lakhs
- Offer for Sale
- Nil
- Lot Size
- The Market lot and Trading lot for the Equity Share is [●] and in multiples of [●] thereafter; subject to a minimum allotment of [●] Equity Shares to the successful applicants.
- Face Value
- ₹ 10/- each
Business Model
The company supplies jewelry to retail jewelers on a job work basis, where finished raw materials have been processed and are ready to be mixed or processed with other products to form the final product sold to retailers and showrooms. The company deals in two types of jewelry: 22 Karat Gold jewelry and 18 Karat Diamond jewelry.
Business Segments
SWOT Analysis
- • Established brand and market reputation in jewelry wholesale(p.19)
- • Acquisition of running business with established operations(p.2)
- • Experienced promoter with industry background(p.25)
- • Diversified product offering in jewelry(p.19)
- • Experienced promoter with 20+ years in gold and diamond jewellery business(p.93)
- • Strong B2B wholesale focus with repetitive customer orders(p.95)
- • Exclusive hallmark certification for all jewellery products(p.93)
- • Established brand reputation in wholesale gold jewellery market(p.93)
- • Promoter's extensive experience in gold jewelry business(p.134)
- • Established reputation in wholesale jewelry market(p.134)
- • Diversified product portfolio across gold and diamond jewelry(p.134)
- • Strong balance sheet with healthy liquidity and low leverage(p.141)
- • Hallmark certification establishing quality assurance(p.134)
- • Very recent incorporation with minimal operating history(p.24)
- • High customer concentration(p.26)
- • High supplier concentration(p.26)
- • Negative operating cash flows(p.27)
- • Dependence on job workers without formal agreements(p.27)
- • No formal agreements with suppliers(p.26)
- • Unsecured promoter loans can be recalled(p.27)
- • Missing educational credentials of key management(p.32)
- • Registered office owned by promoter without formal agreement(p.34)
- • Extremely concentrated promoter ownership with 99.25% pre-issue shareholding(p.60)
- • Small company scale with only ₹555.84 lakhs revenue in FY2023(p.93)
- • Minimal employee base of only 9 employees across all departments(p.101)
- • Low profitability with EBITDA margin of only 4.88%(p.93)
- • Heavy inventory concentration creating working capital risk(p.122)
- • Significant negative operating cash flow in first year(p.123)
- • Marginal profitability with low net profit margins(p.150)
- • Promoter holds dominant shareholding creating governance concentration risk(p.129)
- • Very short operating history as incorporated entity(p.134)
- • India is world's second-largest consumer of gold with growing jewelry market(p.19)
- • Job work business model with low capital requirements(p.19)
- • Planned expansion of business operations(p.29)
- • Funding for working capital to support growth(p.19)
- • Large and growing Indian jewellery market with shift to organized retail(p.94)
- • Planned e-commerce platform expansion across India(p.95)
- • Geographic expansion potential in high-growth regions like Maharashtra(p.95)
- • Rising online jewellery market with expected 7% penetration by FY2025(p.91)
- • Government push for organized retail and rural jewellery demand(p.91)
- • Expansion in India's large and growing jewelry market(p.135)
- • Increased demand for certified hallmarked jewelry(p.134)
- • Post-COVID recovery in jewelry sector demand(p.135)
- • Five-year presence in growing diamond jewelry segment(p.134)
- • Geographic expansion through job-work centers(p.134)
- • Highly competitive organized and unorganized jewelry market(p.29)
- • Volatile gold and diamond prices linked to international commodities(p.27)
- • Seasonal fluctuations in jewelry demand(p.26)
- • Jewelry is discretionary/luxury purchase vulnerable to economic downturns(p.31)
- • Changing consumer preferences and market trends(p.25)
- • Regulatory and governmental policy changes(p.36)
- • General economic slowdown in India(p.36)
- • Natural disasters and man-made calamities(p.37)
- • Foreign exchange and currency volatility(p.38)
- • Inflation impacting cost structure(p.39)
- • High gold price volatility creating raw material cost risk(p.100)
- • Dependence on few top 5 customers representing significant revenue concentration(p.99)
- • Competition from large organized jewellery retailers and unorganized sector(p.90)
- • Significant reliance on job-work artisans with no captive manufacturing(p.93)
- • Regulatory risks from mandatory hallmarking and changing compliance requirements(p.103)
- • Intense competition from fragmented industry with low entry barriers(p.141)
- • Price competition as key differentiator in market(p.135)
- • Vulnerability to macroeconomic slowdown affecting demand(p.135)
- • Exposure to global economic volatility and supply chain disruption(p.135)
- • Dependency on hallmarking certification regulatory framework(p.135)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Kamlesh Keshavlal Lodhiya | Promoter | 99.25% | — |
| Kamlesh Keshavlal Lodhiya | Promoter | 99.25% | — |
| Kamlesh Keshavlal Lodhiya | Promoter | 99.25% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.