Shree Ganesh Jewellery House Limited IPO details (Price band:Rs. 260 - Rs. 270),Company Promoters,Company Financials.Issue Detail,Grading / Rating

Shree Ganesh Jewellery House Limited IPO details (Price band:Rs. 260 - Rs. 270),Company Promoters,Company Financials.Issue Detail,Grading / Rating

Incorporated in 2002, Shree Ganesh Jewellery House Limited is one of the largest manufacturers and exporters of handcrafted gold jewellery in India. Company's products include handcrafted and hallmarked gold jewellery, gold enameled jewellery and gold jewellery studded with precious stones such as diamonds, rubies, emeralds, sapphires, pearls, etc. and semi-precious stones such as garnet, cubic zirconium, etc. Company's portfolio includes rings, earrings, pendants, bracelets, necklaces, bangles and medallions.

Shree Ganesh Jewellery House exported to countries such as the U.A.E, Singapore and Hong Kong. They have three manufacturing units, located in Manikanchan SEZ at West Bengal, which is presently the only jewellery SEZ in West Bengal, spread across an area of 10,500 sq. ft. During FY 2009, Company have achieved a production of 12,843.63 kgs of gold jewellery. They have intend to set up an additional jewellery manufacturing unit at Manikanchan SEZ to supplement the existing facilities. Shree Ganesh Jewellery House also plan to expand their portfolio by commissioning a new vertical in machine made Italian and light weight jewellery at Mondalpara and at Domjur, West Bengal. Company has ten retail outlets and intend to open forty nine retail outlets across India including outlets under the shop-in-shop and franchisee models.

Company Financials:

Particulars For the year/period ended (Rs.in Lakhs)

31-Mar-09 31-Mar-08 31-Mar-07 31-Mar-06 31-Mar-05

Total Income 221,819.95 128,302.64 82,724.81 12,714.59 5,637.87

Profit After Tax (PAT) 13,245.07 8,717.69 5 ,084.05 1,118.99 52.97

Objects of the Issue:

The object of the issue are:

1. Setting up a manufacturing unit at Mondalpara, West Bengal for the manufacture of plain and studded gold jewellery with an annual installed capacity of 450 kgs of gold;

2. Setting up a new manufacturing unit at Domjur, West Bengal with an annual installed capacity of 2,000 kgs of diamond studded jewellery;

3. Expansion of manufacturing facility at Manikanchan SEZ by setting up of a facility for the manufacture of diamond studded jewellery with an annual installed capacity of 1,000 kgs of gold and 75,000 carats of diamond;

4. Setting up retail outlets for sale of jewellery manufactured by our Company and meeting marketing costs;

5. To meet the working capital requirement;

6. To meet general corporate purposes;

7. To meet the issue expenses.

Issue Detail:

»» Issue Open: Mar 19, 2010 - Mar 23, 2010

»» Issue Type: 100% Book Built Issue IPO

»» Issue Size: 14,269,831 Equity Shares of Rs. 10

»» Issue Size: Rs. 371.02 - 385.29 Crore

»» Face Value: Rs. 10 Per Equity Share

»» Issue Price: Rs. 260 - Rs. 270 Per Equity Share

»» Market Lot: 25 Shares

»» Minimum Order Quantity: 25 Shares

»» Listing At: BSE, NSE

Shree Ganesh Jewellery House Ltd IPO Grading / Rating

CARE has assigned an IPO Grade 3 to Shree Ganesh Jewellery House Ltd IPO. This means as per CARE, company has 'Average Fundamentals'. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals

src-www.chittorgarh.com