Varyaa Creations
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 Apr 2024 – 25 Apr 2024
- Listing date
- 30 Apr 2024
- Face value
- ₹10 per share
- Issue price
- ₹150 per share
- Lot size
- 1,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹20.10 Cr
- Market cap at offer price
- ₹71.85 Cr
- Promoter holding
- 100.00% → 72.02% pre-issue → post-issue
- ISIN
- INE0R6801013
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Inventure Merchant Banker Services Pvt.Ltd.
- Registered office
- 11, Floor-3rd, Plot 5/1721, Kailash Darshan, Jagannath Shankarseth Marg-Kennedy Bridge, Gamdevi, Grant Road, Maharashtra
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 1,000 shares per lot, in multiples, at ₹150
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,50,000 |
| S-HNI (min) | 2 | 2,000 | ₹3,00,000 |
| S-HNI (max) | 6 | 6,000 | ₹9,00,000 |
| B-HNI (min) | 7 | 7,000 | ₹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 (₹) | 2.29 | 14.66 |
| P/E (×) | 65.50 | 10.23 |
| Price to book (×) | 12.61 | — |
| Market cap | — | ₹71.85 Cr |
Key performance indicators
- Return on net worth
- 85.52%
- ROCE
- 114.57%
- PAT margin
- 19.92%
- NAV per share
- ₹11.90
- Price to book
- 12.61
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Varyaa Creations
Originally incorporated as Kalgi India Private Limited on July 14, 2005 in Mumbai, the company was renamed Varyaa Creations Private Limited in July 2016 and converted into a public limited company, Varyaa Creations Limited, in August 2023. It is engaged in the wholesale trading of gemstones, precious metals and the manufacturing of jewellery: designs are created in-house, while production is outsourced to job workers in Mumbai who are supplied gold bars and other raw materials procured mainly from bullion market and jewellery market dealers in Mumbai. Its product portfolio covers necklaces, earrings, tops, rings, bracelets, bangles, gemstones, diamonds, lab-grown diamonds and pearls, along with customised jewellery, offered across different price points. Revenue is generated predominantly through B2B sales to wholesalers, retailers and showrooms, and through B2C sales via offline markets and its online platform www.varyaacreations.com, with a second online platform (www.baubleberry.com) under development; restated accounts show all revenue from operations is from domestic sale of goods. For Fiscal 2023 the company reported revenue from operations of Rs. 522.70 lakhs and profit after tax of Rs. 78.93 lakhs, and for the four months ended July 31, 2023 revenue from operations of Rs. 1,035.70 lakhs and PAT of Rs. 289.21 lakhs. Promoters Mrs. Pooja Vineet Naheta and Mrs. Sarika Amit Naheta together hold 93.33% of the pre-issue paid-up capital and have more than two decades of experience in the gems and jewellery industry.
Company Analysis
from DRHPVaryaa Creations Limited is a Mumbai-based company engaged in the wholesale trading of gemstones and precious metals and the manufacturing of jewellery, which it sells through B2B and B2C channels including its own online platform.
Originally incorporated as Kalgi India Private Limited on July 14, 2005 in Mumbai, the company was renamed Varyaa Creations Private Limited in July 2016 and converted into a public limited company, Varyaa Creations Limited, in August 2023. It is engaged in the wholesale trading of gemstones, precious metals and the manufacturing of jewellery: designs are created in-house, while production is outsourced to job workers in Mumbai who are supplied gold bars and other raw materials procured mainly from bullion market and jewellery market dealers in Mumbai. Its product portfolio covers necklaces, earrings, tops, rings, bracelets, bangles, gemstones, diamonds, lab-grown diamonds and pearls, along with customised jewellery, offered across different price points. Revenue is generated predominantly through B2B sales to wholesalers, retailers and showrooms, and through B2C sales via offline markets and its online platform www.varyaacreations.com, with a second online platform (www.baubleberry.com) under development; restated accounts show all revenue from operations is from domestic sale of goods. For Fiscal 2023 the company reported revenue from operations of Rs. 522.70 lakhs and profit after tax of Rs. 78.93 lakhs, and for the four months ended July 31, 2023 revenue from operations of Rs. 1,035.70 lakhs and PAT of Rs. 289.21 lakhs. Promoters Mrs. Pooja Vineet Naheta and Mrs. Sarika Amit Naheta together hold 93.33% of the pre-issue paid-up capital and have more than two decades of experience in the gems and jewellery industry.
Objects of the Issue
- Capital expenditure cost for the proposed new showroom and purchase of inventory for the proposed new showroom (new retail showroom in Agra) Rs. 550.00 Lakhs p.64
- Purchase of Inventory (gold and gold jewellery, purity 22 KT, approximate quantity 23 kgs) for day-to-day business operations Rs. 1000.00 Lakhs p.63
- General Corporate Purposes Rs. 400.00 Lakhs p.65
- To meet the expenses of the Issue Rs. 60.00 Lakhs p.65
Issue Structure
- Total Issue
- 13,40,000 Equity Shares of Rs. 10.00 each at Rs. 150.00 per equity share aggregating Rs. 2010.00 Lakhs
- Fresh Issue
- 13,40,000 Equity Shares at Rs. 150.00 each aggregating Rs. 2010.00 Lakhs (entire issue is a fresh issue, including 70,000 shares / Rs. 105.00 Lakhs reserved for the Market Maker)
- Offer for Sale
- None - There is no Offer for Sale as Our Company is making only a Fresh Initial Public Offer/Issue.
- Price Band
- Fixed Price Issue at Rs. 150.00 per equity share
- Lot Size
- Market lot and trading lot of 1,000 Equity Shares and in multiples of 1,000 thereafter; subject to a minimum allotment of 1,000 shares
- Face Value
- Rs. 10.00 per equity share
Business Model
The company earns revenue from the sale of jewellery and related products, primarily through B2B sales to wholesalers, retailers and showrooms, supplemented by B2C sales including customised jewellery, transacted offline and through its online platform www.varyaacreations.com. It outsources manufacturing to job workers in Mumbai, supplying them gold bars and raw materials, and offers products across different price points; per the restated financials, revenue from operations consists entirely of domestic sale of goods.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mrs. Pooja Vineet Naheta | Promoter | 46.67% | 33.61% |
| Mrs. Sarika Amit Naheta | Promoter | 46.67% | 33.61% |
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.