{"id":29430,"date":"2024-07-29T12:39:49","date_gmt":"2024-07-29T07:09:49","guid":{"rendered":"https:\/\/livemumbai.in\/index.php\/2024\/07\/29\/utssav-cz-gold-jewels-limited-opens-on-july-31-2024\/"},"modified":"2024-07-29T12:39:49","modified_gmt":"2024-07-29T07:09:49","slug":"utssav-cz-gold-jewels-limited-opens-on-july-31-2024","status":"publish","type":"post","link":"https:\/\/livemumbai.in\/index.php\/2024\/07\/29\/utssav-cz-gold-jewels-limited-opens-on-july-31-2024\/","title":{"rendered":"Utssav CZ Gold Jewels Limited Opens On July 31, 2024"},"content":{"rendered":"<div>\n<div>\n<p><strong>Mumbai (Maharashtra) [India], July 29:<\/strong> Utssav\u00a0CZ Gold Jewels Limited,\u00a0a distinguished brand in India\u2019s jewellery market, has announced plans to go public with an Initial Public Offering (IPO) on July 31, 2024, aiming to raise\u00a0\u20b9\u00a069.50\u00a0crores at the upper band, with shares set to be listed on the NSE Emerge platform.<\/p>\n<p>\u25cf Total Issue Size \u2013 Up To 63,18,000 Equity Shares of \u20b9 10 each<\/p>\n<p>\u25cf Issue Size \u2013 \u20b9 69.50 Crores (At Upper Band)<\/p>\n<p>\u25cf Price Band \u2013 \u20b9 104 to \u20b9 110 Per Share<\/p>\n<p>\u25cf Lot Size \u2013 1,200 Equity Shares<\/p>\n<p>The issue size is\u00a0Up To\u00a063,18,000\u00a0equity shares at\u00a0a\u00a0face value of\u00a0\u20b9\u00a010\u00a0each.<\/p>\n<p>Equity Share Allocation<\/p>\n<p>\u25cf\u00a0QIB Anchor Portion\u00a0\u2013\u00a0Up To\u00a018,00,000 Equity\u00a0Shares<\/p>\n<p>\u25cf\u00a0Qualified Institutional Buyers (QIB)\u00a0\u2013<a><\/a>\u00a0Not\u00a0more than\u00a012,00,000\u00a0Equity\u00a0Shares<\/p>\n<p>\u25cf\u00a0Non-Institutional Investors (NII)\u00a0\u2013\u00a0Not less than9,00,000\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Retail Individual Investors (RII)\u00a0\u2013\u00a0Not less than\u00a021,00,000\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Market Maker\u00a0\u2013\u00a0Up To\u00a03,18,000\u00a0Equity Shares<\/p>\n<p>The net proceeds from the issue\u00a0will be\u00a0utilized for funding the company\u2019s working capital requirements\u00a0and\u00a0generalcorporate purposes. Bidding for the anchor portion will open on July 30, 2024. The issue\u00a0is opening\u00a0for\u00a0retail\u00a0subscriptionon July 31, 2024, and closing on August 2, 2024.<\/p>\n<p>The Lead Manager to the Issue is Choice Capital Advisors Private Limited\u00a0&amp;\u00a0The Registrar to the Issue\u00a0is\u00a0BigshareServices Private Limited.<\/p>\n<p>Mr.\u00a0Pankajkumar\u00a0H.\u00a0Jagawat, Managing Director and Promoter of\u00a0Utssav\u00a0CZ Gold Jewels Limited\u00a0expressed,\u00a0\u201cIt is with immense pleasure that we announce our upcoming IPO. With the growing demand for affordable luxury jewellery,\u00a0Utssav\u00a0is perfectly positioned for continued success. Our advanced production facilities, skilled labour, and managerial expertise drive our high productivity. We are committed to delivering top-quality jewellery that caters to the taste of the youth and is suitable for daily wear. Our dedication to innovation is evident in our team of 15 CAD designers, who create around 400 new designs each month to stay ahead of market trends.\u00a0Our revenue from operations has experienced significant growth over the past few years, reflecting our strong market performance and demand.\u00a0<\/p>\n<p>This IPO marks a\u00a0new beginning\u00a0for\u00a0Utssav, enhancing our brand\u2019s image and visibility. With strong demand for gold jewellery, especially 18Karat pieces, we have achieved significant business growth and improved profitability.\u201d<\/p>\n<p>Mr.\u00a0Ratiraj\u00a0Tibrewal\u00a0Director\u00a0&amp; CEO\u00a0of\u00a0Choice Capital Advisors Private Limited\u00a0said,\u00a0\u201cSupporting\u00a0Utssav\u00a0CZ Gold Jewels Limited in its Initial Public Offering (IPO) is a remarkable opportunity. Since its foundation,\u00a0Utssav\u00a0has established itself as a leading force in the CZ gold jewellery sector, offering a wide range of beautifully crafted, lightweight pieces. The company\u2019s advanced facilities and dedicated design team have contributed to its success and market leadership. With the global jewellery market on an upward trend\u00a0and increasing demand for elegant yet affordable luxury,\u00a0Utssav\u00a0is well-positioned for continued growth.\u00a0<\/p>\n<p>This IPO represents a significant milestone and an exciting investment opportunity in a rapidly expanding industry. We are optimistic about the outcome and the future of\u00a0Utssav\u00a0in this dynamic market.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 29: Utssav\u00a0CZ Gold Jewels Limited,\u00a0a distinguished brand in India\u2019s jewellery market, has announced plans to go public with an Initial Public [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[623],"class_list":["post-29430","post","type-post","status-publish","format-standard","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/comments?post=29430"}],"version-history":[{"count":0,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29430\/revisions"}],"wp:attachment":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media?parent=29430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/categories?post=29430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/tags?post=29430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}