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Issue Open Date
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27-Jan-10
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Issue Closing Date
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29-Jan-10
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Application Money
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100
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Allotment Money
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Price Band
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70
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75
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Minimium Application No.
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80
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Issue Size (Shares)
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4107500
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Market Lot
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1
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Objective
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The objects of the Issue are:1) To expand existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil,Tirunelveli, Kovilpatti and Sivakasi and to renovate the existing outlet at Madurai;2)To meet the working capital requirement;3) To meet the expenses of the Issue; and4) To list the equity shares of the Company on the Stock Exchanges
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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1392625
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2118000
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1.52
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Qualified Institutional Buyers
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1989465
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1033280
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0.52
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Retail Individual Investors
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596839
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1350800
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2.26
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Business Description
The Company is one of the leading jewellery retailers in Madurai. Prior to the formation ofThangamayil Jewellery Private Limited in the year 2000 the business was carried on by thepromoters of the company in the name of Balu Jewellery (Partnership concern). Since 1984 thecompany is in the business of manufacturing and trading of jewellery.The Company trades in Gold Jewellery, Diamond and Platinum jewels. Variety of ornaments likeGold chains, Necklaces, Bangles, Ear Studs, Nose Rings, Waist Belts, Kasu Malai, Finger Rings,Bracelets and other items fitting to the taste of the customers are being sold by the Company. Theornaments are also made to order as per specific requirements by the customer and the same aremanufactured at the company’s unit near Madurai. Further gold Jewels are bought readymadefrom various dealers situated in the states of Andhra Pradesh, Gujarat, Kerala and West Bengal,according to the designs, models and current fashions and demand in the market for sale at thecounters.In case of diamonds, items like ear stud, nose ring, diamond necklace etc., are made to order andor bought readymade from the respective dealers as per the designs and demand of thecustomers. The stones are verified for its “Dosham” before the sale to the customers as a traditionprevails in south India for diamond articles for purity and blemishes of the stone. Platinumjewels are also sold according to the customers’ specification and requirements.The gold jewels are tested for its purity and hallmarked at 916* for a guaranteed quality andpurity of its contents by the Company. The Company presently has a customer base of more than1,00,000 customers.Thangamayil introduced the Hallmarking practice for the first time in Madurai and alsoconducted an awareness campaign introducing this concept to the customers in the marketserviced by the Company. A large-scale television campaign was conducted to educate thecustomers on the need for and the benefits in purchasing hallmarked jewellery. As a pioneer ofthis Hallmarking, the Company has also been able to build an image of superior quality to itsHouse Name. The jewellery trade, especially in Tier II cities, is largely unorganized andcustomers seldom have comfort on the grade and quality of the gold jewellery being purchased.Thangamayil started Hallmarking its jewellery and over time increased the percentage ofjewellery hallmarked to greater than 95% of the jewellery sold through its outlet.The Company has its showroom at Netaji Road, Madurai. This showroom was set up in the year2001. The showroom is housed in a three storied set up in total area of 11,416 sq. ft.The Company has a policy of price assurance with respect to returns of the product subject onlyto changes in underlying metal prices. Again, the Company has very transparent practices whenit comes to exchange of jewellery. Customers often bring in jewels purchased from other retailersfor exchange and remaking into new jewellery. The Company has acquired sophisticatedmachinery to measure the quality and carat value of the gold brought in. The measurements arescientific and tamper proof, thereby giving the customer an assurance on the exchange value thatthey receive in return for their jewellery. These initiatives have gone to build a sound reputationfor the Company in the minds of the customers. During the financial year 2008-09 the Companyin its efforts to have retail presence all over Tamilnadu, opened three retail outlets atRajapalayam, Ramanathpuram and Karaikudi. The area of the showrooms are 1200 sq. ft., 6700sq. ft. and 2500 sq. ft. respectively. The company has during the financial year 2008-09 taken overthe business of Balusamy Silvears Jewellery Private Limited (BSJPL). vide a business TakeoverAgreement dated August 01, 2008. The turnover of BSJPL for year ended 2009 was Rs. 686.83 lacswith a PAT of Rs. 5.16 lacs.
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Back
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Address |
124
Nethaji Road
Madurai
,
Tamil Nadu
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625001
Phone :
91-0452-234 5553
Email :
thangamayil.acc@gmail.com
Website :
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Registrar |
SKDC Consultants Ltd
Kanapathy Towers
3rd Floor
Ganapathy
Coimbatore
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Listed at |
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BSE, NSE
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Lead Manager |
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Keynote Corporate Services Ltd
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Promoters |
Balarama Govinda Das
N B Kumar
Ramesh
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Promoter's Holding
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Total Share Capital
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Offered to Public
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Promoter's Holding (Pre-Issue)
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Promoter's Holding (Post-Issue)
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