Jaipur, 18 December, 2017: Moksh Ornaments Ltd. is a Leading manufacturer of gold bangles, vertical chains and mangal sutras to tap markets to raise Rs. 11.03 crore through SME IPO, which is going to open on 21st December, 2017 and will close on 26th December, 2017. The company is going to list on NSE Emerge.
The issue price has been fixed at Rs. 37 per share and the minimum lot size is at 3000 shares. The objectives of the issue are to use it for Working Capital, reduce the debt and issue expenses.
The company’s designs are contemporary and unique as the company works with highly skilled designers and carigars to deliver best products. Currently the company’s entire manufacturing process is done manually, which would eventually move to state of the art manufacturing process.
India’s gems and jewellery sector is one of the largest in the world contributing 29% to the global jewellery consumption. We have 3 lakhs gems and jewellery players in India to cater to. The current market size of the gold jewellery is 3,50,000 crore, out of which 55% comes from unorganised sector.
Commenting on the development Mr. Amrit J Shah, Managing Director said that, “the biggest opportunity for us is conversion from unorganised to organised, which would fuel the growth of modern retail gold stores, which would be the biggest growth driver for us.
The company has declared revenues of Rs. 239.93 core and profit after tax of Rs. 2.87 crore for the financial year 2017. The company has declared Rs.169.43 crore revenues and profit after tax of Rs. 1.89 crore for the period ended October, 2017.
Moksh Ornaments Ltd Leading manufacturer of gold bangles, vertical chains and mangal sutras Caters to leading modern gold retailing players like Nakshatra Jewellery, Ranka Jewellers, Pragati Gold, P.N. Gadgil & Sons and Neelkanth jewellers.