Koura Fine Diamond shares list at 36% premium over IPO price

The was completely a fresh equity issue of 10 lakh shares and through the issue, it raised around Rs 5.5 crore. The issue received strong response from with an overall subscription of over 600 times at close.

Net proceeds from the public offer will be used for funding working capital requirements as well as general corporate purposes.

The company is engaged in the business of supplying jewellery to retail jewellery, mainly gold and diamond jewellery. The jewelleries are manufactured on a job Work basis. It deals in two types of jewellery -- 22 Karat Gold jewellery and 18 Karat diamond.

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It offers a diverse range of products and is dedicated to designing, manufacturing, and selling high-quality jewellery that includes necklaces, chains, rings and earrings.

The company sources finished jewellery from third-party artisans located across India. Additionally, it also supplies raw material i.e. gold bullion, bars to artisans for making of the products on a job-work basis in Ahmedabad, Mumbai, Rajkot, and Surat.

The Indian gems and jewelry market consists of gold, silver, and diamond jewelry, along with other precious gems and pearls. India is the world’s second-largest consumer of gold, with 70% of the consumption being in the form of gold jewelry.

Further, the Indian jewelry market can be divided into the categories of fine jewelry and costume jewelry, with 95% of the market comprising fine jewelry.

For the period ended November 2023, the company clocked revenues of Rs 5.55 crore and net profit of Rs 13 lakh.

GYR Capital Advisors acted as the lead manager to the issue and was the registrar.


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