Synopsis:
Darshan Orna Limited, a Jewellery Stock, announced a Rights Issue offering 5,00,29,335 fully paid-up equity shares at ₹3 per share, with a 1:1 ratio and record date set for October 31, 2025.
This Penny Jewellery Stock under Rs. 5, engaged in the wholesale and trading of gold and silver jewellery and ornaments, including traditional, Indo-Western, and modern designs, jumped 19.17 percent after the company’s board set a record date for the right issue of 1:1.
With a market capitalization of Rs. 14.56 crores, the share of Darshan Orna Limited has reached an intraday high of Rs. 3.17 per equity share, rising nearly 19.17 percent from its previous day’s close price of Rs. 2.66. Since then, the stock has retreated and is currently trading at Rs. 2.91 per equity share.
Reason Behind the Surge
Darshan Orna Limited has announced a Rights Issue to raise up to Rs. 15.88 crore by offering 5,00,29,335 fully paid-up equity shares at Rs. 3 per share, including a face value of Rs. 2 each. Eligible shareholders as of the record date, October 31, 2025, can subscribe to one new share for every one share they already hold.
The Rights Issue will open on November 13, 2025, and close on November 21, 2025, with the last date for on-market renunciation set for November 17, 2025. The Rights Entitlement will be credited by November 12, 2025, and the ISIN for the entitlement is INE671T20010.
Through this issue, the company aims to strengthen its capital base and support future business growth. The Board has approved all necessary terms and conditions, and details will be provided in the company’s Letter of Offer issued to shareholders.
Company Overview
Darshan Orna Limited was established in 2011 as Darshan Orna Private Limited and later converted to a limited company in 2015. It is a Small and Medium Enterprise (SME) based in Ahmedabad, engaged in the gold and silver jewellery and ornaments business.
The company operates primarily as a wholesaler and trader of gold and silver jewellery and ornaments. Its product portfolio includes traditional, Indo-Western, and modern jewellery designs catering to diverse customer preferences. The jewellery range consists of chains, rings, earrings, bracelets, anklets, bangles, and necklaces, often incorporating Kundan, gemstones, and American diamonds.
Darshan Orna sources its products from trusted artisans and manufacturers, focusing on quality and design excellence. It has built a credible sales force to market its products, mainly in the Manek Chowk area of Ahmedabad, a known gold and silver market hub.
Recent quarter results
Coming into financial highlights, Darshan Orna Limited’s revenue has increased from Rs. 2.47 crore in Q2 FY25 to Rs. 6.31 crore in Q2 FY26, which has grown by 155.47 percent. The net profit has also grown by 9.09 percent from Rs. 0.22 crore in Q2 FY25 to Rs. 0.24 crore in Q2 FY26. Darshan Orna Limited’s revenue has grown at a CAGR of 18.30 percent over the last three years.
In terms of return ratios, the company’s ROCE and ROE stand at 3.58 percent and 3.48 percent, respectively. Darshan Orna Limited has an earnings per share (EPS) of Rs. 0.12, and its debt-to-equity ratio is 0.24x.
Written By – Nikhil Naik
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