Shoora Designs IPO to open on August 17; check price band, key dates

Bondada IPO price has been fixed at ₹48 per equity share at the face value of ₹10 each. Bids can be made for a minimum of 3,000 equity shares and in multiples of 3,000 equity shares thereafter. 

Shoora Design IPO’s basis of allotment shares will be done on Thursday, August 24 and the company will initiate refunds on Friday, August 25. The shares will be credited to the demat account of allottees on Monday, August 28. Shoora Design shares are likely to be listed on BSE SME on Tuesday, August 29.

Kfin Technologies Limited is the IPO registrar while Swaraj shares and securities private limited is the IPO lead manager. Satish K Kansodariya, Sejalben Satish Kansodariya, and Rajeshbhai Labhubhai Mer are the promoters of the company.

The company intends to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.

Shoora Designs is engaged in the business of manufacturing and trading diamonds and jewelry. The company manufactures natural diamonds and jewelry mainly focusing on the natural lab grown diamond and jewelry. Shoora Designs’ jewelry is available on both offline market and online platforms.

The firm procures natural diamonds through suppliers and outsources cleaving, laser cutting, and polishing services from local job-workers in the domestic market of Surat while planning and mapping rough diamonds remain in-house. 

The company’s major clients come from wholesalers and retailers with business concentration predominantly in Surat, Gujarat, and Mumbai, Maharashtra.

Updated: 11 Aug 2023, 10:30 PM IST