Shoora Designs Limited is gearing up for its much-anticipated Initial Public Offering (IPO) through a fixed price issue. The IPO is scheduled to run from August 17 to August 21, 2023, with a share price of ₹48. Investors can participate with a minimum order of 3000 shares.
The IPO will comprise 424,000 shares with a face value of Rs. 10 each, potentially raising funds of up to ₹2.03 crore for Shoora Designs Limited. Let’s delve into the details of their IPO set to hit the market in August 2023.
About Shoora Designs Limited
Incorporated in 2021, Shoora Designs Limited specializes in manufacturing and trading diamonds and jewelry. Their focus is on natural diamonds and jewelry, particularly Natural Lab Grown Diamond and Jewelry.
Shoora sources natural diamonds from suppliers, while cleaving, cutting, and polishing services are outsourced locally in Surat. Rough diamond planning is managed in-house. Mainly catering to wholesalers and retailers in Surat, Gujarat, and Mumbai, the company’s jewelry is available both offline and online. For the nine months ended March 31, 2023, Shoora Designs reported revenue of Rs. 105.58 lakhs, and Rs. 162.58 lakhs for the Fiscal Year ended March 31, 2022.
Shoora DesignsLimited IPO Issue Details
| Issue Type | Fixed Price IPO Issue |
| Issue Opens | 17th August 2023 |
| Issue Closes | 21st August 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 48 Per Share |
| Issue Size | 424,000 Shares (Rs 2.03 crores) |
| Minimum Order Quantity | 3000 Shares |
| Listing | BSE, SME |
Purpose of the Issue
The company has outlined its plans for the net proceeds as follows:
- Meeting working capital requirements.
- General corporate purposes.
Shoora Designs Limited — Company Contact Details
- Registered & Corporate Office: Diamond Apartments Co-op Housing Society, LT H No. 7/3388/A, 6th floor, C/1, 601, Haththupura char rasta, Surat – 395003
- Telephone: +91 9004746705
- Website: https://www.shooradesigns.com/
Shoora Designs Limited IPO – Lead Managers of the Issue
Swaraj shares and securities private limited
- Office Address: 304, A Wing, 215 Atrium Near Courtyard Marriot, Andheri Kurla Road, Andheri East, Mumbai – 400093, Maharashtra, India
- Telephone: +912269649973
- Email: compliance@swarajshares.com
Shoora Designs Limited IPO – Registrar of the Issue
Kfin Technologies Limited
- Telephone: 04067162222, 04079611000
- Email: shooradesigns.ipo@kfintech.com
- Website: https://kosmic.kfintech.com
Shoora Designs Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
