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 KeerthanaIPO Details
| IPO Opening Date | Sep 22, 2023 |
| IPO Closing Date | Sep 26, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹204 - 215 per equity share |
| Market Lot | 69 Shares |
| Min Order Quantity | 69 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹270.20 Cr |
| Fresh Issue | ₹210.00 Cr |
| Offer for Sale | ₹60.20 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| 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 Date | Sep 22, 2023 |
| IPO Close Date | Sep 26, 2023 |
| Basis of Allotment Date | Sep 27, 2023 |
| Initiation of Refunds | Sep 27, 2023 |
| Credit of Shares to Demat Account | Sep 29, 2023 |
| IPO Listing Date | Oct 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 69 | ₹14835 |
| Maximum | 13 | 897 | ₹192855 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 100.00% |
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:
- 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, - 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
