Listing of Lab grown diamonds manufacturing company – DEV LABTECH VENTURES LTD
Listing of Bhavnagar based Dev Labtech Ventures Ltd. and promoted by Mr. Jerambhai Donda, engaged in Manufacturing of Eco friendly Lab grown diamonds having wide range of applications in Semi-Conductors Plates (Electrical, Mechanical, Thermal and Optical), cutting tools blades and lazer machines.
Plans to get listing on 29/3/2023 on BSE SME and IPO closed on 21th March, 2023. Considering the present market condition and growth plan of company, investors had given tremendous response. For the issue size Rs. 1122 lacs, received Rs. 5821 lacs collection ( 5.19 times). In retail segment 8.24 times and NII segment 2.58 times which includes QIP/FII participation. Issue Price Rs. 51 per shares and good for long term investment as the only company listed in lab grown diamond industry with B 2 B business model.
With ambitious business plan to increase the production capacity for lab grown diamonds having wide application in semi conductors and electronic industry. The IPO was to raise fund for additional Machines- MPCVD, Plasma technology and working capital. Lead Manager to Issue is Beeline Capital Advisors Pvt. Ltd.
Lab grown diamonds industry has given as lots incentives and promotion from Government under Make in India Mission and further in Budget intention to encourage the production of eco friendly lab grown diamonds via R & D grant, reduction of Import duties on Seeds. Lab grown diamonds has same purity, strength and application like natural diamonds with almost 70/80 % lower cost.
Considering the growth in business and industry demand, Management has started Manufacturing of Lab Grown diamonds which is having same strength and utilities with better profit margin. With the background and experience in natural diamonds, Management has developed in house R & D team with manufacturing facility at Surat and Bhavnagar for new and innovative lab grown diamonds. The technology known as – Microwave Plasma Chemical Vapour Disposition ( MPCVD ) to make lab grown Diamonds from Carbon Seed. It has sets of machines with ultra modern computerises fully automated infrastructure. This technology well tested and used in large scale in China & Europe. MPCVD is a pure and fast diamond deposition process, hence best suited for commercial use.
Promoters – Mr. Jerambhai Donda & his family members having more than 40 years of experience in Diamonds and polished stones. Our Company & its executives have developed the skill and expertise with application of computer software and lazer technology for mapping, designing, cutting, polishing with innovation & optimum output with less wastage in rough to natural polish diamonds.
Company has achieved Rs. 2698 lacs sales in year 2022 as compared to Rs. 1228 lacs in year 2021 and operating profit Rs. 68.21 lacs in 2022 as compared Rs. 32.05 lacs in 2021. However Operating profit has further improved Rs. 118.86 lacs for half yearly ended September, 2022.
Public Issue of 22,00,000Equity Shares of Face Value of ₹10/- each for Cash at a Price of ₹ 51/- Per Equity Share (Including a Share Premium of ₹ 41/- per Equity Share) (“Issue Price”) aggregating to ₹ 1122.00 Lakhs.
The Issue and the Net Issue will constitute 26.60% and 25.24% respectively of the Post Issue paid up Equity Share Capital of Our Company.
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Application of Lab Grown Diamonds