Eighty Jewellers becomes 370th Company to get listed on BSE SME Platform

13 Apr 2022 , 12:44 PM

Eighty Jewellers Limited became the 370th company to get listed on the BSE SME Platform on April 13, 2022. Eighty Jewellers Limited came out with an initial public offering of 27,00,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs41 Per Equity Share (The “Offer Price”), Aggregating to Rs11.07 crore.

The company has successfully completed its public issue on April 05, 2022.

Eighty Jewellers Limited is Chhattisgarh based company whose registered office is at Raipur. The company engaged in the trading of various jewellery, ornaments, watches and luxury articles made out of gold, silver, diamonds and platinum under the brand name of Anopchand Tilokchand Jewellers. The company is located in Chhattisgarh. Eighty Jewellers Limited has the right to open stores in the Brand name of Anopchand Tilokchand Jewellers either directly opening a showroom or through sub-franchise arrangements.

The company operates on a B2B business model, selling jewellery products to a sub-franchisee store at Korba operated by M/S Chhattisgarh Sales Corporation and also serves as a wholesaler to M/s Grand Bhagwati Store in Bilaspur.

Mumbai based Hem Securities Limited, was the lead manager to Eighty Jewellers Limited.

So far, 135 companies have migrated to the main board. The 369 companies listed on BSE SME Platform have raised Rs.3,917 crore from the market and total market capitalization of 369 companies as on April 12, 2022 is Rs. 51,689 Crore. BSE is the market leader in this segment with a market share of 60 percent.

SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.

The response since the launch of this platform by BSE has been very positive till date.