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Manoj Vaibhav Gems 'N' Jewellers Limited IPO Detail

Manoj Vaibhav Gems 'N' Jewellers Limited IPO Detail

Incorporated in 2003, Manoj Vaibhav Gems 'N' Jewellers Limited also known as Vaibhav Jewellers is a regional jewelry brand in South India.

The company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms as well as through its website

Vaibhav Jewellers' cater to all economic segments of the micro markets of Andhra Pradesh and Telangana through their retail showrooms and their website with a focus on both rural and urban markets. The company has positioned itself as a retailer focussed on 'Relationships, by Design' where it focuses on offering designs, high quality, transparency, and customer service to its customers.

The company has 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities in Andhra Pradesh & Telangana.

Company Promoters

Grandhi Bharata Mallika Ratna Kumari (HUF), Bharata Mallika Ratna Kumari Grandhi,and Grandhi Sai Keerthana

IPO Details

IPO Opening DateSep 22, 2023
IPO Closing DateSep 26, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹204 - 215 per equity share
Market Lot69 Shares
Min Order Quantity69 Shares
Listing AtBSE, NSE
Issue Size₹270.20 Cr
Fresh Issue₹210.00 Cr
Offer for Sale₹60.20 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.00x 0.05x 0.26x - 0.14x
Day 2 0.34x 0.59x 0.77x - 0.61x
Day 3 1.08x 5.40x 1.73x - 2.33x

IPO Tentative Timetable

The Manoj Vaibhav Gems 'N' Jewellers Limited IPO open date is Sep 22, 2023, and the close date is Sep 26, 2023. The issue may list on Oct 03, 2023.

IPO Open DateSep 22, 2023
IPO Close DateSep 26, 2023
Basis of Allotment DateSep 27, 2023
Initiation of RefundsSep 27, 2023
Credit of Shares to Demat AccountSep 29, 2023
IPO Listing DateOct 03, 2023

IPO Lot Size

The Manoj Vaibhav Gems 'N' Jewellers Limited IPO market lot size is 69 shares. A retail-individual investor can apply for up to 13 lots (897 shares or ₹192855).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding100.00%

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 803.10 1443.18 20.74
31-Mar-22 899.53 1697.70 43.68
31-Mar-23 1077.86 2031.30 71.60

Objects of the Issue:

The Net Proceeds from the Fresh Issue are proposed to be utilized towards the following objects:

  1. To Finance the Establishment of the proposed 8 new showrooms, i.e.
    (a) Capital expenditure cost for the proposed eight (8) new showrooms,
    (b) Inventory cost for the proposed eight (8) new showrooms,
  2. General corporate purposes.

Manoj Vaibhav Gems 'N' Jewellers Limited IPO Registrar:

Bigshare Services Pvt Ltd

Manoj Vaibhav Gems 'N' Jewellers Limited IPO Lead Manager(s):

Bajaj Capital Limited Elara Capital (India) Private Limited

Company Contact Information:

Manoj Vaibhav Gems 'N' Jewellers Limited

47-15-8, V Square, Zone-A, Opp: TSR Complex,

Station Road, Dwarakanagar,

Visakhapatnam - 530016