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Utssav Cz Gold IPO
Price Band
₹104.0–110.0
Issue Size
₹69.5 Cr
Lot Size
1,200 shares
Min Investment
₹132,000
GMP
+₹10.0 (9.09%)
Issue Price
₹110.0
Subject to Sauda
₹9100
Paid only if allotted
Utssav Cz Gold IPO AI Summary
- Utssav Cz Gold IPO is listed on NSE SME in the Gems, Jewellery And Watches sector.
- Price band: ₹104.0–₹110.0 per share, lot size 1,200 shares (min. investment ₹132,000).
- Subscription window: 31 Jul–02 Aug 2024, listing on 07 Aug 2024.
- Current GMP is +₹10.0 (9.09%), an estimated listing price of ₹120 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Utssav Cz Gold IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 02 Aug 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Utssav Cz Gold IPO Grey Market Premium (GMP) Today
GMP
+₹10.0
GMP %
+9.09%
Est. Listing
₹120.0
Updated: 25 Jul 2026 14:04
About the Company
Incorporated in November 2007, Utssav Cz Gold Jewels Limited designs, manufactures, wholesales, and exports 18Karat, 20Karat, and 22Karat CZ Gold jewellery. The company makes and sells a wide range of products, including rings, earrings, pendants, bracelets, necklaces, watches, and brooches. The company's manufacturing facility in Andheri East, Mumbai, covers 8,275 square feet and produces a variety of jewellery with a capacity of 1,500 kg per annum. The company's customers are in 17 states and 2 union territories in India, as well as 2 countries abroad. The company offers a wide range of lightweight jewellery in 18K, 20K, and 22K CZ gold and rose gold categories, popular for daily and fashion wear. These include traditional and contemporary designs at various price points to match consumer preferences. In the 2023 financial year, the 18K and 22K gold jewelry categories accounted for 73.27% and 24.94% of total sales, and in the ten months ending January 31, 2024, they were 74.22% and 24.67% respectively. The company, with 15 CAD designers, develops about 400 designs monthly to stay ahead of market trends and meet customer demands. As of March 31, 2024, the company has 69 permanent employees on its payroll.
Company Financials (₹ Cr)
As of 2024-01-31
| Period Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 123.33 | 82.16 | 56.16 | 44.23 |
| Total Income | 277.33 | 239.72 | 123.43 | 120.31 |
| Profit After Tax | 10.74 | 7.15 | 3.34 | 1.62 |
| NET Worth | 33.11 | 22.37 | 15.09 | 11.75 |
| Reserves and Surplus | 28.91 | 18.17 | 10.89 | 7.55 |
| Total Borrowing | 77.03 | 49.66 | 36.02 | 30.16 |
Key Ratios
EPS
₹4.09
NAV
₹19.71
ROE
38.71%
ROCE
20.43%
RoNW
38.71%
P/B Value
5.58
P/E Ratio
26.92
Market Cap
₹262.00 Cr
PAT Margin
3.89%
Debt/Equity
2.33
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Uday Jewellery Industries Ltd | 30.58 | 15.18% | 32.42 | 4.31 | 4.31 |
| Swarnsarita Jewels India Limited | 56.09 | 5.52% | 9.29 | 3.01 | 3.01 |
| Sky Gold Ltd | 91.34 | 21.28% | 115.11 | 17.32 | 17.32 |
| Ashapuri Gold Ornament Ltd | 33.01 | 2.19% | 10.7 | 0.71 | 0.71 |
| Utssav Cz Gold Jewels Limited This IPO | 13.32 | 38.17% | 26.92 | 4.26 | 4.26 |
Promoters
Pankajkumar H.Jagawat, Shashank Bhawarlal Jagawat and Rakesh ShantiLal Jagawat
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Working Capital requirement of our Company 60.50 2 General Corporate Purpose 0.24
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹123.43 Cr in the year ending 31 Mar 2022, rising to ₹239.72 Cr by 31 Mar 2023, and further increasing to ₹277.33 Cr by 31 Jan 2024. This indicates a strong upward trend in revenue over the periods analyzed.
Profit Trend
Profit after tax was ₹3.34 Cr in the year ending 31 Mar 2022, increasing to ₹7.15 Cr by 31 Mar 2023, and further rising to ₹10.74 Cr by 31 Jan 2024. This shows a consistent growth in profitability across the periods.
Valuation
At the issue price of ₹110, Utssav Cz Gold Jewels Limited has an implied P/E of 26.92 based on its earnings per share (EPS) of ₹4.26. This is compared to its peers, who have P/E ratios ranging from 9.29 to 115.11.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing gain of an IPO. It is the difference between the IPO price and the price at which the shares are expected to trade in the grey market before they are officially listed. A positive GMP suggests that investors expect the shares to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their financial goals and risk tolerance. It is important to consider the company's growth potential, industry position, and overall market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid investing in IPOs like this, which can be subject to market fluctuations and uncertainties.
Listing Gains — The Risk
Listing day gains can be unpredictable and depend on various factors, including market sentiment, demand for the shares, and overall market conditions. While a positive GMP may indicate potential gains, there is always a risk that shares may not perform as expected on the listing day.
This evaluation is generated from Utssav Cz Gold's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Utssav Cz Gold IPO GMP today?
Utssav Cz Gold IPO GMP today is +₹10.0 (9.09%), indicating an estimated listing price of ₹120. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Utssav Cz Gold IPO?
The price band of Utssav Cz Gold IPO is ₹104.0–₹110.0 per share.
When does Utssav Cz Gold IPO open and close?
Utssav Cz Gold IPO opens on 31 July 2024 and closes on 02 August 2024.
When does Utssav Cz Gold IPO list on the stock exchange?
Utssav Cz Gold IPO listed on 07 August 2024 at ₹120.0.
What is the lot size for Utssav Cz Gold IPO?
The lot size for Utssav Cz Gold IPO is 1200 shares, requiring a minimum investment of ₹132,000.
What is the price band for the IPO?
The price band for the IPO is ₹104.0 to ₹110.0.
What is the minimum investment required?
The minimum investment required is ₹132,000.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When is the listing date?
The listing date is set for August 7, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing gain of an IPO.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
31 Jul 2024
Close
02 Aug 2024
Allotment
05 Aug 2024
Listing
07 Aug 2024
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