U. H. Zaveri Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹36

Listed On

22 May 2018

Listing Price

₹27 (-25.00%)

Current Price LIVE

₹27 (-25.00%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	6,000	₹2,16,000
HNI Min	3	9,000	₹3,24,000

As company is very new with only 6 months financial data available, issue is fully aggressively priced as per latest earnings and poor track record of BRLM. So, we give AVOID rating to this SME IPO.

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	10,53,000	10,53,000	21,06,000
Day 1 08-05-18	1,14,000 (0.11)	11,37,000 (1.08)	12,51,000 (0.59)
Day 2 09-05-18	11,67,000 (1.11)	17,13,000 (1.63)	28,80,000 (1.37)
Day 3 10-05-18	12,00,000 (1.14)	18,03,000 (1.71)	30,03,000 (1.43)
Day 4 11-05-18	12,06,000 (1.15)	25,59,000 (2.43)	37,65,000 (1.79)
Day 5 14-05-18	19,95,000 (1.89)	39,90,000 (3.79)	59,85,000 (2.84)

Started in 2017, Ahmedabad - Gujarat based U. H. Zaveri Limited is a gems & jewellery company. Company's business operations are divided into two divisions. (1) Wholesale and retail of jewellery and (2) Trading of jewellery. Company mainly sells gold jewellery and marginal percentage of its revenue is earned through silver jewellery and other kind of jewellery and utensils. UHZ does not manufacture jewellery and hence, the making of its jewellery is outsourced. The jewellery sold by them is either designed in house or through 3-D jewellery designer or by third party designers or they purchase ready to sell jewellery directly from manufacturers. Company's portfolio of products includes collection of contemporary, antique, kundan, polka and temple jewellery. In addition to this, company also sell customised jewellery, gold and silver jewellery articles. Company's show room is situated at Nikol, Ahmedabad and company currently has 6 employees in total. Company is started in August 2017, so there is very less financial data available for analysing. For the period ended on 31.01.18 of FY18, it has earned net profit of Rs. 0.75 cr. on a turnover of Rs. 13.89 cr. Issue is priced at a P/BV of 1.6 on the basis of its NAV of Rs. 22.55 post issue. If we annualise latest earnings and attribute it on fully diluted equity post issue then asking price is at a P/E of around 21.27 against industry composite P/E of 33.45. As per offer documents it is showing Goldiam International Limited, Renaissance Jewellery Limited and Uday Jewellery Limited as its listed peers that are trading at a P/E of around 19, 9 and 35 respectively. So, issue is fully priced. On merchant banker's front, this is the 16th IPO and out of recent 10 listings, 7 opened below issue price, and three with 1.5% to 10% premium on the day of listing. As company is very new with only 6 months financial data available, issue is fully aggressively priced as per latest earnings and poor track record of BRLM. So, we give AVOID rating to this SME IPO.

Fresh Issue

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All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
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Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
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With entry barriers, SEBI wants only well informed investors to participate is such SME offer
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With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
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Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

10 Comments

S
Sanjay Agarwal 08 Nov 2018, 21:41

.
N
NAVIN 25 May 2018, 18:55

intna down ???
C
C.A 23 May 2018, 10:53

worst
I
IPO Guru 21 May 2018, 16:40

no
K
karan 21 May 2018, 12:43

any gmp
I
IPO Guru 11 May 2018, 09:47

not active in gray market.
S
sanket 11 May 2018, 06:46

can you please let me know the what is gmp ?
I
IPO Guru 05 May 2018, 14:57

not active in gray market.
D
dilip kumar 04 May 2018, 23:00

gmp ketlu che
D
dinesh modi 04 May 2018, 13:47

aa IPO bharay ke nahi uh zaveri nu gmp ketlu che

Open Date	May 08, 2018
Close Date	May 14, 2018
Allotment Date	May 18, 2018
Listing Date	May 22, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 36 Per Equity Share
Retail Min Lot	1 Lot (3,000 Shares - ₹ 1,08,000)
Lead Manager	First Overseas Capital Limited

U. H. Zaveri Limited

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