Shoora Designs Ltd Share Price – BSE

Diamond, Gems and Jewellery, Small Cap

Shoora Designs will hold a meeting of the Board of Directors of the Company on 9 November 2023.

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The scrip was listed at Rs 91.20, a premium of 90% compared with the issue price. The scrip hit a high of Rs 95.76 and a low of Rs 91.20. About 2.10 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of Shoora Designs was subscribed 60.46 times. The issue opened for bidding on 17 August 2023 and it closed on 21 August 2023. The price of the IPO was fixed at Rs 48 per share.

The IPO comprised fresh issue of 4,23,000 shares. The promoter and promoter group shareholding diluted to 71.77% from 100% pre-IPO.

The company intends to utilize the net proceeds for funding of working capital requirements and general corporate purposes.

Shoora Designs is engaged in the business of procuring rough diamonds through suppliers, internally planning and mapping rough diamonds, and is out-souring the process of cleaving, laser cutting, and polishing from local job-workers in the domestic market of Surat, and is selling of the said polished cut-diamonds to the wholesalers or retailers with business concentration pre-dominantly in Surat, Gujarat, and the newly-explored market of Mumbai, Maharashtra.

The company recorded a revenue from operations of Rs 2.10 crore and net profit of Rs 0.11 crore for the period ended as on 31 March 2023.

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The equity shares of Shoora Designs (Scrip Code: 543970) are listed effective 29 August 2023 and admitted to dealings on the Exchange in the list of ''MT'' Group Securities.

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