Manoj Vaibhav Gems 'N' Jewellers Limited IPO (Manoj Vaibhav Gems 'N' Jewellers IPO) Detail
By Dilip Suthar
Manoj Vaibhav Gems 'N' Jewellers IPO is a book built issue of Rs 270.20 crores. The issue is a combination of fresh issue of 0.98 crore shares aggregating to Rs 210.00 crores and offer for sale of 0.28 crore shares aggregating 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. Manoj Vaibhav Gems 'N' Jewellers IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, October 3, 2023.
Manoj Vaibhav Gems 'N' Jewellers IPO price band is set at ₹204 to ₹215 per share. The minimum lot size for an application is 69 Shares. The minimum amount of investment required by retail investors is ₹14,835. The minimum lot size investment for sNII is 14 lots (966 shares), amounting to ₹207,690, and for bNII, it is 68 lots (4,692 shares), amounting to ₹1,008,780.
Bajaj Capital Limited and Elara Capital (India) Private Limited are the book running lead managers of the Manoj Vaibhav Gems 'N' Jewellers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Manoj Vaibhav Gems 'N' Jewellers IPO RHP for detailed information.
Manoj Vaibhav Gems 'N' Jewellers IPO Details
| IPO Date | September 22, 2023 to September 26, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹204 to ₹215 per share |
| Lot Size | 69 Shares |
| Total Issue Size | 12,567,442 shares (aggregating up to ₹270.20 Cr) |
| Fresh Issue | 9,767,442 shares (aggregating up to ₹210.00 Cr) |
| Offer for Sale | 2,800,000 shares of ₹10 (aggregating up to ₹60.20 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 39,080,000 |
| Share holding post issue | 48,847,442 |
Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.
Manoj Vaibhav Gems 'N' Jewellers IPO Reservation
Manoj Vaibhav Gems 'N' Jewellers IPO a total of 12,567,369 shares are offered. QIB: 2,513,488 (20.00%), RII: 4,398,605 (35.00%), NII: 1,885,116 (15.00%).
| Anchor Investor Shares Offered | 3,770,160 (30.00%) |
| QIB Shares Offered | 2,513,488 (20.00%) |
| NII (HNI) Shares Offered | 1,885,116 (15.00%) |
| Retail Shares Offered | 4,398,605 (35.00%) |
| Total Shares Offered | 12,567,369 (100%) |
Manoj Vaibhav Gems 'N' Jewellers IPO Timeline (Tentative Schedule)
Manoj Vaibhav Gems 'N' Jewellers IPO opens on September 22, 2023, and closes on September 26, 2023.
| IPO Open Date | Friday, September 22, 2023 |
| IPO Close Date | Tuesday, September 26, 2023 |
| Basis of Allotment | Wednesday, September 27, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Friday, September 29, 2023 |
| Listing Date | Tuesday, October 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 below 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 | ₹192,855 |
| S-HNI (Min) | 14 | 966 | ₹207,690 |
| S-HNI (Max) | 67 | 4,623 | ₹993,945 |
| B-HNI (Min) | 68 | 4,692 | ₹1,008,780 |
| Lot Size Calculator | |||
Manoj Vaibhav Gems 'N' Jewellers IPO Promoter Holding
Grandhi Bharata Mallika Ratna Kumari (HUF), Bharata Mallika Ratna Kumari Grandhi,and Grandhi Sai Keerthana are the company's promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 74.27% |
Manoj Vaibhav Gems 'N' Jewellers IPO Anchor Investors Details
Manoj Vaibhav Gems 'N' Jewellers IPO raises Rs 81.06 crore from anchor investors. Manoj Vaibhav Gems 'N' Jewellers IPO Anchor bid date is September 21, 2023. Manoj Vaibhav Gems 'N' Jewellers IPO Anchor Investors list
| Bid Date | September 21, 2023 |
| Shares Offered | 3,770,160 |
| Anchor Portion Size (In Cr.) | 81.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 10, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 7, 2024 |
Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.
About Manoj Vaibhav Gems 'N' Jewellers Limited
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 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 |
Key Performance Indicator
Manoj Vaibhav Gems 'N' Jewellers IPO Market Cap is Rs 1050.22 Cr and P/E (x) is 11.74.
| KPI | Values |
|---|---|
| P/E (x) | 11.74 |
| Market Cap (₹ Cr.) | 1050.22 |
| ROE | 23.19% |
| ROCE | 17.71% |
| Debt/Equity | 1.34 |
| EPS (Rs) | 18.32 |
| RoNW | 20.78% |
Objects of the Issue (Manoj Vaibhav Gems 'N' Jewellers IPO Objectives)
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.
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