Goblin India Limited IPO

IPO Period : 30th Sep’19 – 4th Oct’19

Name: Goblin India Limited

Incorporation: 1989

Registered Office: Camex House, 1st Floor, Commerce Road, Navrangpura, Ahmedabad-380009, India.

Business Type: ISO 9001: 2015 Certified Travel Luggage Company engaged in the design, marketing and sale of travel, business and casual luggage as well as travel accessories. The Company also sells and distributes batteries and torches, household items, Office Electronics and other commodities for corporate gifting.

Their products are produced by third party manufactures of India and China. They have their branch in Malad, Mumbai as well  .

Goblin owns two exclusive retail outlets in Ahmedabad, Gujarat and one excusive store in Paris through its subsidiary company. They also sell through leading e-commerce platforms like Amazon and Flipkart.

Network: Company has 4 distributors, 129 direct dealers and 245 dealers of our distributors as on 31st Mar’19.

Range : Small leather goods, ladies handbags, travel gear, backpacks to other travel accessories.

Major Clients : Corporate gifting clients majorly are Corona Remedies, Torrent Pharmaceuticals, Intas Pharmaceuticals, Indian Institute of Management (Ahmedabad), Nirma Limited, Sun Pharmaceuticals, Cipla Limited, Micro Labs Limited etc

Promoters : Mr. Manoj Choukhany and Mrs. Sonam Choukhany.

The lead manager to the issue is Fast Track Finsec Pvt Ltd and the Registrar to this issue is  BIGSHARE SERVICES PRIVATE LIMITED.


  • Diversified Product Portfolio
  • Vast network of distributors
  • Cordial Corporate relationship
  • Domestic and international availability

Financial Summary

Rs. In Lakhs

Particulars 31-03-2019 31-03-2018 31-03-2017
Assets 3680 3328 2283
Revenue 6849 6094 5244
PAT 345 309 63

[table “1” not found /]

Object of the issue

  1. To set up a plant to manufacture/ Assemble ABS Luggage Bags at Ahmedabad, Gujarat
  2. Funding the working capital requirement of the Company
  3. General corporate purposes.

GMP ( Grey Market Premium)/GMP Goblin India Limited : NIL to -ve

Conclusion : We recommend not to apply for Short term listing gains but one can apply for Long term because of its Business model and mid- lower segment reach. However, there are other better options available in market than applying for this IPO.

Disclaimer: The conclusion given is solely on the basis of experience of blog writer and is based on his personal experience, one should do his own analysis and study before reaching to any conclusion. Neither IPO Research nor writer will be held responsible for any loss to reader without proper analysis.

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2 years ago

Clearly an avoid for this IPO

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