Utssav CZ Gold Jewels Ltd IPO

About Utssav CZ Gold Jewels Ltd

Utssav CZ Gold Jewels Limited was originally incorporated as Company Limited by Shares under the name Utsav CZ Gold Jewels Private Limited under the provisions of the Companies Act, 1956 and the Certificate of Incorporation was issued by Registrar of Companies, Mumbai, Maharashtra on November 06, 2007, vide certificate of incorporation bearing CIN U36911MH2007PTC175758. Pursuant to a special resolution passed by its shareholders in the Extra-Ordinary General Meeting held on November 19, 2007, The Company was converted from a private limited company to public limited company and consequently, the name of the Company was changed to Utsav CZ Gold Jewels Limited and a fresh certificate of incorporation dated January 08, 2008 was issued to the Company by the Registrar of Companies, Mumbai, Maharashtra. The Corporate Identification Number of the Company is U36911MH2007PLC175758. Pursuant to a special resolution passed by its shareholders in the Extra-Ordinary General Meeting held on February 13, 2008, the name of the Company was changed to Utssav CZ Gold Jewels Limited and a fresh certificate of incorporation dated February 19, 2008 was issued to the Company by the Registrar of Companies, Mumbai, Maharashtra.

The Indian jewellery market is traditionally dominated by gold jewellery. Gold jewellery purchases in India are not just limited to consumption as is the case with fashion jewellery. They have a strong saving significance. This is more evident in rural communities where access, literacy, and acceptance of other financial savings instruments are low. These factors have resulted in gold being a major saving asset class. Cultural differences, religious & trust concerns, and other elements that influence jewellery purchases have all contributed to gold jewellery's significance. Apart from gold jewellery, the other type of jewellery gaining traction is the studded ornaments segment. The key factor contributing to this segment growth is the younger population's preference for diamond-studded gold jewellery, typically made of 14- or 18-carat gold rather than heavy 22-carat gold. There has also been a noticeable shift towards more informal and everyday use of diamond studded jewellery. The domestic gold jewellery wholesale industry is expected to grow from 378 tonnes (out of 600 tonnes total gold jewellery demand) in 2022 to 402 tonnes by 2025 and 475 tonnes by 2030, at a CAGR of 2.5%. In value terms, the industry size is expected to increase to Rs. 2,340 billion in 2030 from Rs. 1,713 billion in 2022.

Utssav CZ Gold Jewels limited is in the business of designing, anufacturing, wholesaling and exporting of 18Karat 20Karat and 22Karat CZ Gold jewellery. Our Company specializes in light weight production of cubic zirconia (CZ) gold and rose gold casting jewellery. We manufacture and offer wide collection of products such as Rings, Earrings, Pendants, Bracelets Necklaces, Watches and Broaches etc. The Company was established in 2007 in the name of Utsav CZ Gold Jewels Private Limited. In 2008, the company transitioned to a public limited company under the name Utsav CZ Gold Jewels Limited.

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