Afternoon D & C Dedicated To Mumbai
Home > Business & Investment > Sagar Diamonds to enter Capital Market

Sagar Diamonds to enter Capital Market

Monday, September 11, 2017

Sagar Diamonds Limited, an ISO 9001:2015 certified Surat based manufacturer and exporter of rough & polished diamonds procured from the trusted and certified suppliers & engaged in jewellery making and trading of diamonds, jewellery and precious stones is planning to enter the Capital Market with an IPO of 33,81,000 equity shares of Rs. 10.00 each at a price as decided by the Issuer in consultation with the Lead Manager within the price band of  Rs. 40.00 to Rs. 45.00 per share. The issue opens on September 14, 2017 and closes on  September 18, 2017. Gretex Corporate Services Pvt. Ltd is the sole Lead Manager to the Issue and Bigshare Services Pvt. Ltd is the Registrar to the Issue. The proceeds of the Issue will be utilized for Working Capital Requirements, General Corporate Purposes and Issue Expenses.

The Company is planning to import raw diamonds and convert them into polished diamonds. The company exports to Hong Kong, Europe,etc. The Gems and Jewellery sector plays a significant role in the Indian Economy. It is one of the fastest growing sectors. The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote ‘Brand India’ in the international market.

India's gems and jewellery exports jumped by 8.95% for financial year 2016-17 on recovery in demand from the United States (US), Hong Kong and the United Arab Emirates (UAE), the three destinations accounting for over 75% of India's overall shipment of precious ornaments by value.

India is the world’s largest cutting and polishing centre for diamonds, with the cutting and polishing industry being well supported by government policies. Moreover, India exports 95% of the world’s diamonds, as per statistics from the Gems and Jewelry Export promotion Council (GJEPC). India's Gems and jewellery sector has been contributing in a big way to the country's foreign exchange earnings. The Government of India has viewed the sector as a thrust area for export promotion. The improvement in availability along with the reintroduction of low cost gold metal loans and likely stabilisation of gold prices is expected to drive volume growth for jewellers over the short to medium term. The demand for jewellery is expected to be significantly supported by the recent positive developments in the industry which would benefit Sagar Diamonds substantially.

The promoter Vaibhav Dipak Shah, was in the business of manufacturing and trading of Diamonds, Gold, Precious Stones etc. in his proprietary firm M/s. Sagar Gems since 2010. The Company has acquired the business of the firm in April 2017 with a view of corporatization of the promoters’ business.

The revenue from operations of the firm has increased to Rs. 35,523.34 Lakh in Fiscal 2017 as compared to Rs. 6,860.14 Lakh in Fiscal 2016.

The revenue from operations of the company has increased to Rs. 999.89 Lakh in Fiscal 2017 as compared to Fiscal 2016 and further in the period ended 20 June, 2017, the revenue from operations increased to Rs.1,028.56 Lakh.

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
I am a robust, healthy man in my early thirties.
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You have a good chance of improving your image at your work place by coming up with a neat solution to a problem. In your business if you wish to make optimum use of your capital cut some wasteful expenditure and improve productivity. For Property issues wait for a more opportune time.
- Advertising -
We’ve all heard about leukaemia and know that it
Master the art of journal writing as Aakriti Patn
Don’t start your day on the wrong foot. Aakriti P
Read More