The Manoj Vaibhav Gems 'N' Jewellers IPO is a bookbuilding process valued at Rs 270.20 crores. This offering consists of a fresh issue of 0.98 crore shares totaling Rs 210.00 crores, along with an offer for sale of 0.28 crore shares amounting to Rs 60.20 crores.
Manoj Vaibhav Gems 'N' Jewellers IPO bidding started from September 22, 2023 and ended on September 26, 2023. The allotment for Manoj Vaibhav Gems 'N' Jewellers IPO was finalized on Wednesday, September 27, 2023. The shares got listed on BSE, NSE on October 3, 2023.
The price band of Manoj Vaibhav Gems 'n' Jewellers IPO has been fixed at ₹215 per share. The minimum lot size for application is 69. The minimum amount of investment required by retail investors is ₹14,076. But the investor is suggested to bid at the cutoff price, which is around ₹14,835, to avoid an oversubscription scenario. The minimum lot size investment for SNII is 14 lots (966 shares), amounting to ₹2,07,690, and for BNII, it is 68 lots (4,692 shares), amounting to ₹10,08,780.
Bajaj Capital Limited, Elara Capital (India) Private Limited and Manoj Vaibhav Gems 'N' Jewellers are the book running lead managers to the IPO while Bigshare Services Private Limited is the registrar to the issue.
Manoj Vaibhav Gems 'N' Jewellers IPO Details
| IPO Date | September 22, 2023 to September 26, 2023 |
| Listing Date | October 3, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹215 per share |
| Lot Size | 69 Shares |
| Total Issue Size | 1,25,67,442 shares (aggregating up to ₹270.20 Cr) |
| Fresh Issue | 97,67,442 shares (aggregating up to ₹210.00 Cr) |
| Offer for Sale | 28,00,000 shares of ₹10 (aggregating up to ₹60.20 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 4,88,47,442 shares |
Manoj Vaibhav Gems 'N' Jewellers IPO Timeline (Tentative Schedule)
| IPO Open Date | Fri, Sep 22, 2023 |
| IPO Close Date | Tue, Sep 26, 2023 |
| Tentative Allotment | Wed, Sep 27, 2023 |
| Initiation of Refunds | Fri, Sep 29, 2023 |
| Credit of Shares to Demat | Fri, Sep 29, 2023 |
| Tentative Listing Date | Tue, Oct 3, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 26, 2023 |
Manoj Vaibhav Gems 'N' Jewellers IPO Lot Size
Investors can bid for a minimum of 69 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 69 | ₹14,835 |
| Retail (Max) | 13 | 897 | ₹1,92,855 |
| S-HNI (Min) | 14 | 966 | ₹2,07,690 |
| S-HNI (Max) | 67 | 4,623 | ₹9,93,945 |
| B-HNI (Min) | 68 | 4,692 | ₹10,08,780 |
Manoj Vaibhav Gems 'N' Jewellers IPO Reservation
Manoj Vaibhav Gems 'N' Jewellers IPO offers 12,567,369 shares. 2,513,488 (20.00%) to QIB, 1,885,116 (15.00%) to NII, 4,398,605 (35.00%) to RII 3,770,160 (30.00%) to Anchor investors. 63,747 RIIs will receive minimum 69 shares and 650 (sNII) and 1,300 (bNII) will receive minimum 966 shares. (in case of oversubscription)
Manoj Vaibhav Gems 'N' Jewellers IPO Anchor Investors Details
| Bid Date | September 21, 2023 |
| Shares Offered | 37,70,160 |
| Anchor Portion Size (In Cr.) | 81.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 27, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 26, 2023 |
| Company Financials |
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Jun 2023 |
| Assets | 818.62 | 803.10 | 899.53 | 1,077.86 | 1,082.82 |
| Revenue | 1,284.30 | 1,443.18 | 1,697.70 | 2,031.30 | 510.21 |
| Profit After Tax | 24.39 | 20.74 | 43.68 | 71.60 | 19.24 |
| Net Worth | 208.08 | 228.99 | 272.86 | 344.55 | 363.65 |
| Reserves and Surplus | 198.31 | 219.22 | 263.09 | 305.47 | 324.57 |
| Total Borrowing | 419.32 | 463.43 | 477.73 | 460.00 | 460.39 |
About Manoj Vaibhav Gems 'N' Jewellers Limited
Incorporated in 2003, Manoj Vaibhav Gems 'N' Jewellers IPO 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.
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