R O Jewels Share Price

RO Jewels Limited was originally incorporated as a Private Limited Company with the name RO Jewels Private Limited on December 11, 2018. Subsequently, the Company was converted in to a Public Company and name was changed to RO Jewels Limited (ROJL) on October 01, 2019. Subsequently, the Company has acquired the business of Proprietorship Concern of one of its Promoter Mr. Bharat Rasiklal Shah viz. M/s Ravi Ornaments through the Business Succession Agreement dated December 18, 2019. Consequently, the business of the proprietorship firm was merged into the Company.The Company is engaged in the wholesale business of gold and Silver chains. The Company essentially sells gold based chains, bracelets, gold/silver bars and necklaces. It procures gold silver majorly through the bullion market and partially from the local markets in Ahmedabad. The Company purchases only readymade Chains and other jewelries from the jewellery manufacturers or independent jewellery wholesalers located in Ahmedabad and Mumbai. These are then sold through their showroom situated at Manek Chowk, Ahmedabad and by its marketing and sales team directly to other jewellery stores. The Companys jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.The Company has a diversified portfolio for chains and jewelries that caters to customers taste, preference, choice and the ever changing trends in the chain and jewellery designs. The portfolio offers its customers a wide variety of traditional, Indo western, modern chain and jewellery. On 17 March 2020, the Company issued 13,65,000 equity shares of Rs 10 each and raised funds aggregating to Rs 4.91 crores through IPO.