Moksh Ornaments IPO

Moksh Ornaments IPOBusiness description – Moksh Ornaments is in the business of manufacturing and wholesale of jewellery. The jewellery is manufactured on job work basis at Kolkata and Mumbai. The company primarily sells gold jewellery and its product profile includes bangles, chain, and mangalsutra. Its focus is on developing new designs that meet customer’s requirements and gets products designed by third party designers.

Its promoters Jawanmal M Shah and Amrit J Shah have around 30 years and 20 years of experience respectively in the jewellery industry. Some of its major customers include Nakshatra Jewellery, P.N. Gadgil & Sons, Ranka Jewellers, P.N. Gadgil Jewellers Private Limited, etc. Moksh Ornaments procures the required gold from various banks and local markets.

Promoters of Moksh Ornaments – Jawanmal M Shah and Amrit J Shah

Moksh Ornaments IPO details
Subscription Dates 21 – 26 Dec 2017
IPO Price band INR37 per share
Fresh issue 2,982,000 shares (INR11.03 crore)
Offer for sale Nil
Total IPO size 2,982,000 shares (INR11.03 crore)
Minimum bid (lot size) 3,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform
Moksh Ornaments’ consolidated financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 7M FY2018
Total revenue 77.3 80.9 110.9 143.0 239.9 169.4
Total expenses 77.3 80.8 110.7 142.8 235.5 166.6
Profit after tax 0.0 0.1 0.2 0.2 2.9 1.9

Moksh Ornaments Limited
701, 18/22, Champagali
7th Floor, Zaveri Bazaar

Phone: +91 22 6183 4395
Email: [email protected]

Day Subscription (no. of times)
Day 1 1.42
Day 2 5.24
Day 3 97.16

Earnings Per Share (EPS): INR5.56

Price/Earnings (P/E) ratio: 6.65

Return on Net Worth (RONW): 26.47%

Net Asset Value (NAV): INR21.02 per share

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E),
Mumbai – 400 072

Phone: +91 22 4043 0200 
+91 22 2847 5201
 [email protected]

Moksh Ornaments IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.

IPO Opening Date: 21 December 2017

IPO Closing Date: 26 December 2017

Listing Date: 3 January 2108

Listing Price on NSE SME: INR44.4 per share (up 20% from IPO price)

Closing Price on NSE SME: INR44.4 per share (up 20% from IPO price)


  1. Stay away from this bogus company. Don’t fall in the trap of grey market premium. This is a trap, 20% UC first day and continuous slide after that.

  2. Their website says…..

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  3. Sold at 53.25 again brought back at 57.4 for long term after reading positive reviews about the company . Copared to peers it’s best even @100

  4. Why this company available at a cheaper price compared to peers? P/E at a stunning rate 6.65 compared to peers average P/E more than 40

  5. They have expansion plans. Right price to buy and hold. Target 80+ within 1 year
    Astron paper is also a good option. target 200+
    {Note : I have investment on both of these stocks and i am not a registered SEBI agent so please do your analysis}

  6. Moksh PE is 6.65 and industry average is more than 45 but still Moksh is in downtrend why it’s so.? Compared to industry Moksh should move to 200

  7. Peer PE ratio comparison

    Moksh Ornaments Ltd – 6.65(based on issue price) even at current price below 10
    Thangamayil Jewellery Ltd – 65.63
    Tribhovandas Bhimaji Zaveri – 43.65
    PC Jeweller Ltd – 18.03

    Average Industry PE ratio is 40+, And GST will bost this secotor further, and organised companies will benefit more in the coming quarters

    Definitely a good buy and target 100+ within an year.
    Those who looking quick profit/loss will sell out these days so wait for your turn hold and buy more if you have money.

    For new investers buy and hold atleat 2-3 quaters.


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