Last Updated on September 27, 2023 by BFSLTeam BFSLTeam
Joyalukkas India Ltd is an internationally-recognised jewellery brand with 150+ showrooms, spanning across 11 nations. Certified by organisations like DHC, Forevermark, GIA and IGI, this company is the owner of a wide array of sub-brands like Eleganza, Pride, Ratna, Veda, Masaaki Pearls, Li’l Joy Kids Jewellery, Apurva and Zenina.
To rapidly expand its retail network and occupy a larger share of the global jewellery market, Joyalukkas India filed a DRHP with SEBI to launch its IPO. However, due to poor market conditions and several other factors, the plan is currently on hold. If you want to know the latest updates about the company and its IPO, keep reading!
Also Read: Benefits of Investing in IPO
Table of Content
About Joyalukkas India Ltd
Incorporated in 1956, Joyalukkas India Limited is the biggest retail jewellery chain which is owned by a single family. It is one of the most trusted jewellery brands in India and has been operating in this industry for more than 35 years.
Over time, this company has spread its business around the world, namely in – the United States, UK, Malaysia, Singapore, UAE, Qatar, Oman, Bahrain, Kuwait and KSA. In fact, it was the first jeweller in the Middle East to gain an ISO 9001:2000 certification.
Joyalukkas Jewellers’ offerings range from timeless pieces which reflect India’s glorious past to modern jewellery. The company has a product portfolio of over 1 lakh designs across various price ranges. Furthermore, the company’s high product quality standards and excellent customer service have earned it the tag of the “world’s favourite jeweller”.
About Joyalukkas India Ltd. IPO and Objectives
Joyalukkas India Limited had previously filed a DRHP with the Securities and Exchange Board of India (SEBI) to launch its IPO. It aims to issue equity shares aggregating up to Rs. 2,300 crore, with a face value of Rs. 10 per share.
With the help of public funding, this company aims to enhance its retail network by leveraging its Joyalukkas brand. It plans on opening 8 new showrooms in India, particularly focusing on Karnataka, Odisha, Maharashtra and Telangana.
Moreover, the company will strive to increase its share in India’s jewellery market by putting increasing focus on studded jewellery. Joyalukkas also plans on expanding its existing jewellery lineup by introducing new designs and seasonal offerings, along with developing its position in the platinum and diamond jewellery markets.
The company also aims to explore online channels, develop its brand through B2B offerings and invest in its brand-building and marketing initiatives.
Joyalukkas India Ltd. IPO Details
Joyalukkas India Ltd. is yet to release IPO details, bid opening and closing dates, listing date, lot size, etc. It has currently withdrawn its plan to launch an IPO. The managing director of Joyalukkas India, Alukkas Varghese Joy cited a poor market situation and shifting of offices as the reason for its withdrawal. The company is expected to launch its IPO in 2024.
The book-running lead managers in this regard are Haitong Securities India Private Limited, Edelweiss Financial Services Limited, SBI Capital Markets Limited and Motilal Oswal Investment Advisors Limited. Whereas, Link Intime India Private Limited will be the registrar of the upcoming issue.
Strengths
The notable strengths of Joyalukkas India Ltd are summarised below:
- Strong presence in India as well as international markets like the Middle East, UK, US, etc.
- Products certified by Forevermark, DHC, IGI, and GIA
- Winner of several awards for its product quality, including the distinguished Dubai Quality Award
- Has a wide range of sub-brands like Veda, Pride, Ratna, Eleganza, Masaaki Pearls, Apurva and Li’l Joy Kids Jewellery
- Vast product portfolio covering various categories and price points
Risk Involved
The following risks are associated with investing in Joyalukkas India Ltd:
- Any pandemic in future like COVID-19 can affect its operations as well as its profitability.
- Deterioration in public image can hamper the company’s operations, business and profits.
- The inability to accurately identify consumer demand and maintain an adequate inventory can affect operations.
- This organisation is dependent on third parties for the manufacture of its products. Thus, any delays or shortcomings from their end can adversely affect its business.
Also Read: Risk of investing in IPO
Conclusion
Keeping in mind the above factors, you can now make an informed decision about investing in the Joyalukkas India Limited IPO. With the IPO plans currently on hold, you will want to be on the lookout for any news regarding any change in plans. Otherwise, you may miss out on an investing opportunity in one of the biggest jewellery houses in India.
You can get updates on all the upcoming IPOs here. By opening a Demat and trading account with us, you can apply for any live IPOs without having to search for any information. All of the important details are already pre-filled.
FAQs
Joy Alukkas Verghese is the Chairman and owner of JoyAlukkas India Pvt Ltd.
Between 31st March 2019 and 30th September 2021, the total assets of Joyalukkas India increased from Rs. 3,840.183 crore to Rs. 5,370.047 crore. During the same time period, its profits appreciated from Rs. 1,161.38 million to Rs. 2,689.45 million. These growing figures act as proof of Joyalukkas India Ltd.’s profitability.
The opening and closing bid dates for Joyalukkas India Ltd IPO are yet to be declared by the company. Please check after some time for the latest updates.
You can check your Joyalukkas India Ltd. IPO allotment status by visiting the Link Intime India Private Limited website. There, you simply need to enter your PAN or IPO application number to fetch the allotment details.
The total issue size of the Joyalukkas India Ltd. IPO is up to Rs. 2,300 crore.
