Manoj Vaibhav Gems ‘N’ Jewellers IPO will open for subscription from 22 September 2023. The company aims for an issue size of ₹270.20 Cr through this IPO.
Company Overview
| Full name | Manoj Vaibhav Gems ‘N’ Jewellers Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.vaibhavjewellers.com/ |
About Company
Incorporated in 2003, Manoj Vaibhav Gems ‘N’ Jewellers – also known as Vaibhav Jewellers – is a regional jewelry brand in South India. The company offers gold, gems, platinum, silver, diamond jewelry, precious gemstones, and other jewelry products through retail showrooms as well as through its website.
Manoj Vaibhav Gems caters to all economic segments of the micro markets of Andhra Pradesh and Telangana through the dedicated branded showrooms and has a strong rural market focus and a dedicated urban focus. The company is a hyperlocal jewelry retail chain with a presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities.
In FY 2022, the revenue from operations was INR 1,693.92 crores. The revenues have grown at a CAGR of 15.08% from FY 2020 till FY 2022. The revenue per retail showroom for FY 2022 was INR 141.16 crore and EBITDA per retail showroom was INR 8.75 crore.
The Objectives of the Issue
- 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.
IPO Timetable
| IPO Opening date | 22 September 2023 |
| IPO Closing | 26 September 2023 |
| Basis of Allotment | 03 October 2023 |
| Initiation Refund | 04 October 2023 |
| Credit to Demat Account | 05 October 2023 |
| Listing Date | 06 October 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹270.20 Cr – 12,567,442 shares |
| Fresh Issue | ₹210 Cr – 9,767,442 shares |
| Offer for sale | ₹60.20 Cr – 2,800,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹204 to ₹215 per share |
| Lot size | 69 Shares |
| Shareholding pre-issue | 39,080,000 |
| Shareholding post-issue | 48,847,442 |
| Listing Exchange | BSE & NSE |
IPO Lot Size
| 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 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 1,279.13 | 1,433.57 | 1,693.92 |
| Expenses | 1,251.03 | 1,404.12 | 1,639.29 |
| Net income | 24.19 | 20.91 | 43.87 |
| Margin (%) | 1.89 | 1.46 | 2.60 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.31 | 11.18 | 18.32 |
| PE ratio | – | – | 11.14 – 11.74 |
| RONW (%) | 9.06 | 16.01 | 20.78 |
| NAV | – | 69.82 | 88.17 |
| ROCE (%) | 10.54 | 13.77 | 17.71 |
| EBITDA (%) | 4.85 | 6.20 | 7.06 |
| Debt/Equity | 2.02 | 1.75 | 1.34 |
Company Promoters
- Grandhi Bharata Mallika Ratna Kumari (HUF)
- Bharata Mallika Ratna Kumari Grandhi
- Grandhi Sai Keerthana
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 74.27% |
Lead Manager(s)
- Bajaj Capital Limited
- Elara Capital (India) Private Limited
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
MANOJ VAIBHAV GEMS ‘N’ JEWELLERS LIMITED
D. No. 47-10-19, 2nd Lane, Dwarakanagar,
Visakhapatnam, Andhra Pradesh – 530 016
Phone: +(91) 089 1663 6666
Email: cs@vaibhavjewellers.com
Website: www.vaibhavjewellers.com
Allotment Status
Manoj Vaibhav Gems IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Manoj Vaibhav Gems ‘N’ Jewellers IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
