|Issue Date||20/03 - 26/03|
|Issue Size||₹8.28 Cr|
|Market Lot||8000 Shares|
|Shares on Offer||5,520,000|
|Subject to Sauda||N/A|
Laxmi Goldorna House Limited is a Public incorporated on 07 January 2010. It is classified as Non-govt company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 210,000,000 and its paid up capital is Rs. 153,519,008. It is inolved in Manufacturing n.e.c.
Laxmi Goldorna House Limited's Annual General Meeting (AGM) was last held on 30 September 2018 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2018.
Directors of Laxmi Goldorna House Limited are Jugal Rajendrakumar Dave, Manish Mahendrabhai Jain, Rupalben Jayeshkumar Shah, Jayesh Chinubhai Shah and Niravbhai Arvindbhai Shah.
Laxmi Goldorna House Limited's Corporate Identification Number is (CIN) U36911GJ2010PLC059127 and its registration number is 59127.Its Email address is email@example.com and its registered address is LAXMI HOUSE, OPP. BANDHARANO KHACHO, M G HAVELI ROAD, MANEK CHOWK, AHMEDABAD GJ 380001 IN , - , .
The Company is engaged in manufacturing and trading business of branded gold Jewellery and ornaments. Our collection of manufactured product includes gold jewellery with or without studded precious and semi-precious stones. We offer our customers a broad variety of gold jewellery and diamond jewellery in order to cater to regional tastes. The designing and manufacturing of our products is done by third parties on job work basis. Our products have presence across different price points to cater to all customers across high-end, mid-market and value market segments. Apart from our own Jewellery we are also dealing in trading of branded jewellery.
Further the Company was originally incorporated on January 07, 2010 as “Laxmi Goldorna House Private Limited” vide Registration No.059127/2009-10 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Further, our Company was converted into Public Limited Company and consequently name of company was changed from “Laxmi Goldorna House Private Limited” to “Laxmi Goldorna House Limited” vide Special resolution passed by the Shareholders at the Extra-Ordinary General Meeting held on July 08, 2017 and a fresh certificate of incorporation dated July 25, 2017 issued by the Registrar of Companies, Ahmedabad
Additionally, in the year 2009-10, our company is promoted by Mr. Jayesh Kumar Shah and Mrs. Rupalben Shah in the name of Laxmi Goldorna House Private Limited under the provisions of the Companies Act, 1956. Presently the promoters of the Company are Mr. Jayesh Kumar Shah and Mrs. Rupalben Jayeshkumar Shah who have experience of about 18 years and 8 years respectively in the field of gold and jewellery business. The vast experience of the Promoters has been instrumental in determining the vision and growth strategies for our Company. We further believe that our market position has been achieved by adherence to the vision of our Promoters and senior management team and their experience of over a decade in the industry in which our Company operates. We operate from our registered office at Laxmi House, Opp. Bandharano Khacho, M.G. Haveli Road, Manek Chowk, Ahmedabad, Gujarat-380001, India which is also our Showroom.
Most of the jewellery are designed in a traditional manner as the demand for traditional jewellery is very high in the local markets of Ahmedabad and nearby localities. The design & pattern for our jewellery & ornaments is provided by us to the job workers who manufacture our products accordingly. We sell only quality certified jewellery & ornaments to the clients.
They attend and participate in various international exhibitions to analyze current jewellery trends. Based on such analysis as well as post understanding of the consumer likes, taste and preference, internal research & changing jewellery & ornaments industry, we have developed a wide range of designs & patterns for our traditional, modern & Indo-Western jewellery using the latest 3D Computer-Aided Designing (CAD) Software.
They have stringent quality control process for procuring the raw material as well as sale of products. We are getting the Jewellery manufactured on Job work basis from the third parties and in-house also. We check the quality of Gold and Diamond before handing over to job workers and also check the quality of gold, diamond and stones once we receive completed jewellery from the job worker.The Company deals in jewellery certified by BIS Hallmark. The quality Assurance department monitors and examines the jewellery designs inward in the stock to match the standard, thus the quality standard of gold jewellery dealt with is maintained throughout and therefore, our customer's trust is sustained.
They are a customer-centric company; our prime focus is to attain the utmost client satisfaction by offering them quality assured products. We also deliver our products in a quality packaging material to ensure safety of our Products. Moreover, our ethical trade practices, transparent business dealings and timely delivery of products help us in maintaining cordial relations with our customers. Our Company strives at all times to provide products that offer our customers the designs with superior finish and quality. Further, we have diversified our business activities to our current activities which is in the field of real estate to construct the proposed buildings on the vacant land which we have purchased in the name of our company.
Incorporated in 2010, Laxmi Goldorna House Ltd is engaged in wholesale and retail trading of gold jewelry and ornaments. In 2017, it also started a real estate business. So, Laxmi Goldorna House is also engaged in the construction of commercial and residential Projects under real estate.
The registered office of the company is located at Manek Chowk, Ahmedabad. The company offers a wide product range with a variety of gold jewelry and other jewelry as per the regional taste. It doesn't have any manufacturing unit and designing & processing of jewelry is done by 3rd-party.
The company is currently working on the Laxmi Eternia project designed by architecture "Bend Group". The project is nearer to Ahmedabad Airport, Ahmedabad Railway Station, and Baroda Express Way. It has 723, 3BHK Flats and 52 Shop along with party kitchen, basement parking, basketball court, party plot, gym, theatre, play zone, badminton court, and society office.
Mr. Jayesh Chinubhai Shah and Mrs. Rupalben Jayeshkumar Shah are the promoters of the company.
To part finance its needs for working capital (Rs. 7.00 cr.) and general corpus fund (Rs. 0.88 cr.), LGHL is coming out with a maiden IPO of 5520000 shares of Rs. 10 each at a fixed price of Rs. 15 per share to mobilize Rs. 8.28 cr. The issue opens for subscription on 20.03.20 and will close on 26.03.20. Minimum application is to be made for 8000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge. Issue constitutes 26.45% of the post issue paid-up capital of the company.
The issue is solely lead managed by Beeline Broking Ltd. while KFin Technologies Pvt. Ltd. is the registrar to the issue. Beeline Broking Ltd. is also acting as a market maker for this IPO. LGHL is spending Rs. 0.40 cr. for this IPO process. Post issue LGHL's current paid-up equity capital of Rs. 15.35 cr. will stand enhanced to Rs. 20.87 cr. It mulls a market cap of Rs. 31.31 cr. post this issue.
Having issued initial equity at par, LGHL has also issued/converted equity shares in the price range of Rs. 50 to Rs. 65 between March 2010 and September 2017. It has also issued bonus shares in the ratio of 4 shares for every 1 share held in August 2017. The average cost of acquisition of shares by the promoters is Rs. 9.64 and Rs. 15.16 per share.
On the financial performance front, for the last three fiscals, LGHL has reported turnover/net profits of Rs. 52.43 cr. / Rs. 0.58 cr. (FY17), Rs. 69.77 cr. / Rs. 0.44 cr. (FY18) and Rs. 73.45 cr. / Rs. 0.67. (FY19). For the first half of FY20, it has earned a net profit of Rs. 0.40 cr. on a turnover of Rs. 38.78 cr. Despite the growth in top lines, the bottom line has shown inconsistency.
For the last three fiscals, LGHL has posted an average EPS of Rs. 1.78 and an average RoNW of 4.33%. The issue is priced at a P/BV of 1.01 based on its NAV of Rs. 15.12 as on 30.09.19 as well as post issue NAV of Rs. 15.09. If we annualize latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 39 making it aggressively priced. LGHL has not declared any dividend in the past five financial years.
LGHL is in highly competitive and high volume - low margin business of gold ornaments as well as the lagging real estate segments. While the gold jewellery business is a highly fragmented segment with a large number of unorganized players, realty sector too is overcrowded. Based on the financial issue is aggressively priced. While others can avoid, risk savvy - cash surplus investors may consider investment at their own risk.
|Total Assets (In ₹ Millions)||3,943.94||3,879.01||1,028.52|
|Total Revenue (In ₹ Millions)||7,344.97||6,977.25||5,242.52|
|Profit After Tax (PAT) (In ₹ Millions)||66.82||44.06||58.05|
|Date & Time||QIB||NII||RII||Total|
|Day 1 - 20 Mar 2020|
|Day 2 - 23 Mar 2020|
|Day 3 - 24 Mar 2020|
|Day 4 - 25 Mar 2020|
|Day 5 - 26 Mar 2020|
Please click the link below to check the IPO allotment status.IPO Allotment Status
Laxmi Goldorna House Ltd IPO will open on 20/03 and close on 26/03.
Laxmi Goldorna House Ltd IPO will list on .
The offer price of Laxmi Goldorna House Ltd IPO is ₹15.
The lot size of Laxmi Goldorna House Ltd IPO is 8000.
The Grey Market Premium (GMP) price of Laxmi Goldorna House Ltd IPO is Not Available at the moment.
The Kostak price of Laxmi Goldorna House Ltd IPO is Not Available at the moment.
The Subject to Sauda price for Laxmi Goldorna House Ltd IPO is Not Available at the moment.
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