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DP Abhushan IPO subscribed over 39 times on NSE Exchange Platform

The HNI and RII portion subscribed 68.7 and 15.60 times, respectively

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DP Abhushan SME public issue comprises of 59, 32,000 Equity Shares of a face value of Rs. 10 each for cash at price of Rs. 28 per Equity Share, aggregating up to ` 1660.96 lakhs

The Public Issue of Ratlam based DP Abhushan Limited, engaged in the retail business of various pieces of jewelry and ornaments, receives a stellar response for the investor on the final day. The issue which opened for bidding on NSE Exchange Platform, subscribed over 39.86 times. The HNI and RII portion subscribed 68.7 and 15.60 times, respectively, as per data available on NSE. Proceeds of IPO will be utilized towards working capital requirement and general corporate purpose.

DP Abhushan SME public issue comprises of 59, 32,000 Equity Shares of a face value of Rs. 10 each for cash at price of Rs. 28 per Equity Share, aggregating up to ` 1660.96 lakhs. The Lead Manager to the Issue is Hem Securities Limited, a leading player in SME IPOs and the Registrar to the Offer is Bigshare Services Pvt. Ltd.

For the fiscal year ended March 31, 2017, March 31, 2016, and March 31, 2015, the total revenue of our Company stood at Rs. 45371.02 Lakhs, Rs. 48822.43 Lakhs and Rs. 45989.44 Lakhs respectively. Further, our PAT for the fiscal year ended March 31, 2017, 2016 and 2015 as per Restated Financial Statements was Rs. 490.45 Lakhs, Rs. 324.73 lakhs and Rs. 131.46 Lakhs respectively.

The Company is engaged in the retail business of various pieces of jewelry and ornaments made out of gold, diamonds, and platinum studded with precious and semi-precious stones. The Company is run by the Third generation of the promoter family. Its portfolio includes rings, earrings, armlet, pendants, gajrahs, nose rings, bracelets, chains, necklaces, bangles and other wedding jewelry. D P Abhushan currently has four showrooms under the “D.P. Jewellers” brand located in four different cities of India i.e. Ratlam, Indore, Bhopal, and Udaipur.

DP Abhushan has been awarded several recognitions in the recent years, such as “Best Promising Gems & Jewellery” Award in 2017 by Indian Bullion and Jewellers Association Ltd, “Best Bridal Jewellery of the year (Under Rs. 15 lakhs)” Award by IJ Jewellers in 2016, Madhya Pradesh Entrepreneur & Excellence Award Indore for “Trusted Brand of the year” 

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