IPO Details

Bidding Dates

17 Mar '23 - 21 Mar '23

Minimum Investment

₹102,000 / 1 Lots ( 2000 Shares )

Price Range

₹51

Maximum Investment

₹102,000 / 1 Lots ( 2000 Shares )

Retail Discount

To be announced

Issue Size

₹11.22 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Mar 17, 2023

IPO Closing Date

Mar 21, 2023

Basis of Allotment

Mar 24, 2023

Initiation of Refunds

Mar 27, 2023

Credit of Shares to Demat

Mar 28, 2023

IPO Listing Date

Mar 29, 2023

IPO Subscription Details

DateNIIRetailTotal

Day 1Mar 17, 2023

 0.33 0.66 0.49

Day 2Mar 20, 2023

 0.79 1.83 1.31

Day 3Mar 21, 2023

 2.65 8.24 5.47

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institution Buyers [.]
Non-Institutional Buyers 2.65
Retail Investors 8.24
Employees [.]
Other [.]
Total 5.47

About Company

Founded in 1993, Dev Labtech Venture manufactures and markets lab-grown diamonds and jewellery. It is a new venture of the company. Processing natural diamonds was the original business of the company promoters.

They have developed the skills and expertise in applying computer software and laser technology required for mapping, designing, cutting, and polishing lab-grown diamonds. Their in-house technical and design team develops diamonds with more purity and desired sizes. To make lab-grown diamonds from diamond seeds, they use Microwave Plasma Chemical Vapour Deposition (MPCVD) technology.

Dev Labtech Venture issues an initial public offering to raise ₹11.22 crore through sales of 2,200,000 equity shares with a face value of ₹10. The bidding window opens on March 17, 2023. 

Dev Labtech Venture IPO is a fixed-price issue. The price band is fixed at ₹51 per share with a lot size of 2000 shares per lot.

Dev Labtech Venture IPO Objective 

  • To meet capital expenditure and working capital requirements 
  • General corporate purposes 
  • Issue expenses 

Why should you invest in Dev Labtech Venture Ltd.?

These are your top reasons to invest in Dev Labtech Venture Ltd.

  • They have developed the technology and skills required for the end-to-end processing of lab-grown diamonds.
  • With the global market expansion, the gem and jewellery industry will witness significant demand-supported growth.
  • E-commerce penetration will continue to impact the jewellery market. Online sales are expected to be 1-2% of the fine jewellery segment. 

Dev Labtech Venture Noteworthy highlights

  • Dev Labtech Venture belongs to the jewellery industry and stands to benefit from government policies to boost export and remove custom duty on cut and polished diamonds and gemstones.
  • Reduction in import duty of gold, hallmarking and others will help the industry to grow and meet export targets. The total export volume stood at US$43.75 billion in 2021.

Dev Labtech Venture Company Financials

Particulars Year ending on March 31, 2022 Year ending on March 31, 2021 Year ending on March 31, 2020
Revenue from Operations 2,685.13 1,223.85 1,178.85
Profit After Tax (PAT 43.62 3.65 0.04
EBITDA 79.58 31.94 37.58
EPS 3.47 1.74 0.02
Current Asset 888.24 713.73 711.23
Current ratio 29.00 12.46 6.29

Know before investing

Strengths

3

  1. The company offers a variety of products of lab-grown and natural diamonds.

  2. Experienced promoters.

  3. Integrated manufacturing units for the smooth running of manufacturing processes.

Risks

3

  1. The lab-grown diamond business is new and thus has a limited operating history.

  2. Diamonds are a luxury item, and discretionary spending by customers can impact the demand for jewellery items.

  3. Their promoter’s group also operates in a similar business line which can cause competition.

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Dev Labtech Venture IPO FAQs

What is Dev Labtech Venture IPO?

Dev Labtech Venture Ltd. IPO worth ₹11.22 crore will open for subscription on March 17, 2023. The IPO size contains 2,200,000 equity shares with face value of ₹10 per share.

The subscription window will remain open from March 17-21, 2023.

When will the Dev Labtech Venture IPO allotment be available?

The basis of the allotment date is March 24, 2023.

What will be the Dev Labtech Venture IPO lot size?

One lot of Dev Labtech Venture IPO has 2000 shares.

When will Dev Labtech Venture IPO open for subscription?

The IPO will open on March 17, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Dev Labtech Venture list on exchanges?

The listing date of Dev Labtech Venture Ltd. on BSE SME is March 29, 2023.

How to check the allotment status of the Dev Labtech Venture IPO?

You can check the allotment status of your IPO application from the Angel One app.

To check the allotment status, enter the application number, DP ID, and PAN number into the app. 

What would be the listing gains on the Dev Labtech Venture IPO?

Listing gain refers to the difference between the IPO’s opening and offer prices. The listing gain is influenced by changing investors’ interests, global parameters, and short vs long-term outlooks.

I have finished the application process for Dev Labtech Venture IPO, but the funds are not yet debited. What is the reason?

The bank initially blocks the amount you bid for an IPO. It will debit the money when the shares are allotted or unblock the amount after the UPI mandate expiry date.  

How to approve the UPI mandate request for Dev Labtech Venture IPO?

Login to your UPI handle and approve the payment mandate to complete the IPO application process.

Can I submit more than one application for the public issue of Dev Labtech Venture using one PAN?

You can submit only one application using one PAN card.

What is the minimum order quantity for Dev Labtech Venture IPO?

The minimum size of the application will be one lot of 2000 shares.