Nanavati Ventures SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Apr 2022 – 27 Apr 2022
- Listing date
- 06 May 2022
- Face value
- ₹10 per share
- Issue price
- ₹50 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹2.19 Cr
- Market cap at offer price
- ₹8.23 Cr
- Promoter holding
- 71.00% → 52.19% pre-issue → post-issue
- ISIN
- INE0E5R01017
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- First Overseas Capital Ltd.
- Registered office
- S-414, OM Plaza, Adarsh App.Co.Op.Ho.Soc., Village: Vijalpor, Taluka: Jalalpore, 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 | 24,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹50
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,50,000 |
| S-HNI (min) | 2 | 6,000 | ₹3,00,000 |
| S-HNI (max) | 6 | 18,000 | ₹9,00,000 |
| B-HNI (min) | 7 | 21,000 | ₹10,50,000 |
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 (₹) | 99.67 | — |
| P/E (×) | 0.50 | — |
| Market cap | — | ₹8.23 Cr |
Key performance indicators
- Return on net worth
- 1.94%
- NAV per share
- ₹51
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Nanavati Ventures SME
Nanavati Ventures Limited was originally incorporated as 'Nanavati Ventures Private Limited' on August 10, 2010, and converted to a public company on August 14, 2020. The company is engaged in trading of diamonds, majorly in Surat, Gujarat. Its operations include sourcing polished and uncut diamonds from primary and secondary source suppliers in the domestic market and sales to retail and wholesale operations in Gujarat. The company primarily sells diamonds to a customer base spread across domestic markets that includes various jewellery manufacturers, large department store chains, retail stores and wholesalers. The company's core business is spread within Surat in Gujarat only.
Company Analysis
from RHPNanavati Ventures Limited is engaged in trading of polished and uncut diamonds primarily in Surat, Gujarat, serving jewellery manufacturers, retailers, and wholesalers across domestic markets.
Nanavati Ventures Limited was originally incorporated as 'Nanavati Ventures Private Limited' on August 10, 2010, and converted to a public company on August 14, 2020. The company is engaged in trading of diamonds, majorly in Surat, Gujarat. Its operations include sourcing polished and uncut diamonds from primary and secondary source suppliers in the domestic market and sales to retail and wholesale operations in Gujarat. The company primarily sells diamonds to a customer base spread across domestic markets that includes various jewellery manufacturers, large department store chains, retail stores and wholesalers. The company's core business is spread within Surat in Gujarat only.
Objects of the Issue
- To Meet working capital requirement ₹173.00 Lakhs p.20
- General Corporate Purpose ₹25.00 Lakhs p.20
- Public issue expenses ₹20.00 Lakhs p.20
- To meet Working Capital requirements ₹173.00 Lakhs p.57
- General Corporate Purpose ₹25.00 Lakhs p.57
- To meet the expenses of the Issue ₹20.00 Lakhs p.57
- General corporate purposes
Issue Structure
- Total Issue
- ₹218.00 Lakhs
- Fresh Issue
- ₹218.00 Lakhs (4,36,000 Equity Shares of face value of Rs. 10/- each)
- Offer for Sale
- Nil
- Price Band
- ₹50/- per Equity Share (Including share premium of ₹40/-)
- Face Value
- ₹10/- per Equity Share
Business Model
The company sources polished and uncut diamonds from primary and secondary source suppliers in the domestic market and sells them to jewellery manufacturers, large department store chains, retail stores and wholesalers primarily in Gujarat.
Business Segments
SWOT Analysis
- • Established diamond trading business with presence in Surat, Gujarat(p.20)
- • Diversified customer base across jewellery manufacturers and retail chains(p.20)
- • Positive financial trajectory with growing revenue(p.21)
- • Established brand 'Nanavati Ventures' in region with customer confidence(p.75)
- • Management expertise in diamond wholesale trading(p.75)
- • Geographic advantage: Located in Surat, India's diamond processing hub(p.76)
- • Low-cost procurement through bulk purchasing(p.74)
- • Quality assurance process and customer retention(p.76)
- • Established brand and market presence in diamond trading(p.139)
- • Revenue growth trajectory with 88.90% increase from FY2020 to FY2021(p.140)
- • Positive profitability with consistent PAT growth(p.141)
- • Debt-free capital structure with zero borrowings(p.138)
- • No outstanding litigation or legal disputes(p.143)
- • Dependence on few high-value customers and concentrated customer base risk(p.27)
- • No insurance coverage for operational and natural risks(p.25)
- • Limited expansion and growth infrastructure(p.24)
- • Lack of long-term supplier contracts and vendor relationship risks(p.27)
- • High working capital requirements and cash flow dependency(p.27)
- • Recent delays in obtaining regulatory licenses and approvals(p.28)
- • Small workforce of only 7 employees(p.78)
- • No insurance coverage for operational risks(p.78)
- • Limited to wholesale and retail sales with no major customer base identified(p.78)
- • Business is working capital intensive with no working capital loans from banks(p.58)
- • Limited product portfolio - only trading of diamonds without manufacturing(p.76)
- • Heavy dependence on limited customer base(p.142)
- • Minimal asset base with only Rs. 4.59 lakhs in tangible fixed assets(p.119)
- • Very low cash position relative to operations(p.119)
- • High inventory concentration risk with Rs. 456.63 lakhs as of December 31, 2021(p.119)
- • Significant rise in trade payables indicating working capital strain(p.119)
- • India's strong economic growth trajectory and position as fastest-growing economy(p.20)
- • Enhanced corporate visibility and access to capital through SME Platform listing(p.55)
- • Working capital enhancement to support business expansion(p.55)
- • Expansion into new geographical markets beyond Gujarat(p.58)
- • Direct selling facility to end-user customers(p.76)
- • Growing gems and jewellery export market(p.71)
- • Industry growth driven by organized players and brand development(p.73)
- • Expansion of diamond trading business as stated in company strategy(p.122)
- • Growth in revenue from operations showing 973.54% increase from FY2019 to FY2020(p.141)
- • Access to capital through IPO to strengthen operational capabilities(p.168)
- • Listing on BSE SME Platform to enhance market visibility and credibility(p.147)
- • High volatility and fluctuations in diamond prices(p.28)
- • Availability and supply constraints in diamond sourcing(p.25)
- • Intense competition from organized and unorganized players(p.29)
- • Seasonal and discretionary nature of diamond purchasing demand(p.25)
- • COVID-19 pandemic uncertainty and economic impact risks(p.32)
- • Regulatory changes and compliance requirements risks(p.26)
- • Natural calamities and disasters impacting economy(p.33)
- • Intense competition from organized and unorganized sector(p.77)
- • Risk of variations in diamond prices and market fluctuations(p.73)
- • Reliance on diamond supply from domestic vendors(p.74)
- • External economic conditions and global economic slowdown(p.57)
- • Highly competitive and fragmented diamond trading market(p.139)
- • Vulnerability to commodity price fluctuations affecting margins(p.139)
- • Exposure to currency volatility and foreign exchange risks(p.140)
- • Dependence on macroeconomic conditions and general business cycles(p.139)
- • Regulatory changes in finance and capital markets(p.139)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mrs. Kashmira Hemantkumar Nanavati | Promoter | 71.00% | 52.19% |
| Mr. Shreykumar Hasmukhbhai Sheth | Promoter | 0.00% | 0.00% |
| Ms. Vaishnavi Hemantkumar Nanavati | Promoter | 0.00% | 0.00% |
| Mrs. Kashmira Hemantkumar Nanavati | Promoter | 71.00% | — |
| Mr. Shreykumar Hasmukhbhai Sheth | Promoter | — | — |
| Ms. Vaishnavi Hemantkumar Nanavati | Promoter | — | — |
| Kashmira Nanavati | Promoter | 71.00% | — |
| Prabhulal L. Parekh HUF | Promoter | 14.10% | — |
| Prabhulal L. Parekh | Promoter | 11.90% | — |
Leadership
Auto-extracted from the company's RHP 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 RHP before relying on it.