Nov 23, 2012, 05.14 PM IST
KM Global Finserv has come out with its report on "Tara Jewels Limited IPO". The research firm recommends that, investors avoid subscribing to the issue as its valuation appears expensive compared to its listed peers such as Gitanjali Gems & Renaissance Jewellery.
Strengths & Expansion Plans
Adding 20 Retail Stores Across India - The retail business was started in 2008 and has quickly ramped up to 30 stores with a turnover of Rs 266 cr in FY12. Tara jewels plans to add another 20 stores in Tier II and Tier III cities across western and northern parts of India with an average store size of around 1,000 sq feet.
Management: Mr. Rajeev Sheth is,a commerce graduate from The Mumbai University and a diploma holder in gemology from Gemological Institute of America. He is the Chairman and Managing Director of the Company. Mr. Sheth has 31 years of experience in the jewellery business. He started his career by promoting Rose International and thereafter became the promoter and managing director of Intergold India Limited from 1989 to 1999.
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To read the full report click here
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