D.P. Abhushan Ltd (DPAL) is launching its maiden IPO of 5932000 equity shares of Rs. 10 each with a fixed price of Rs. 28 per share to mobilize Rs.16.61 crore. Issue opens for subscription on 09.10.17 and will close on 11.10.17.

Issue is solely lead managed by Hem Securities Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue.

The company was incorporated in 2017 by conversion of a partnership firm M/s D. P. Abhushan (formerly known as M/s D.P. Jewellers) into the Company as D. P. Abhushan Limited under the provisions of Companies Act, 2013.

The company is engaged in the retail business of various jewelleries and ornaments made out of gold, diamonds and platinum studded with precious and semiprecious stones. Co’s portfolio includes rings, earrings, armlet, pendants, gajrahs, nose rings, bracelets, chains, necklaces, bangles and other wedding jewellery. Co have four showrooms under the “D.P. Jewellers” brand located in four different cities of India i.e. Ratlam, Indore, Bhopal and Udaipur.

Further, company has plans to expand its retail network by opening another showroom in Indore, Madhya Pradesh by the end of October’17.