Manoj Vaibhav Gems ‘N’ Jewellers IPO

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 nameManoj Vaibhav Gems ‘N’ Jewellers Limited
Company Website

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 date22 September 2023
IPO Closing26 September 2023
Basis of Allotment03 October 2023
Initiation Refund04 October 2023
Credit to Demat Account05 October 2023
Listing Date06 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on September 26, 2023)

IPO details

Issue typeBook 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 size69 Shares
Shareholding pre-issue39,080,000
Shareholding post-issue48,847,442
Listing ExchangeBSE & NSE

IPO Lot Size

Retail (Min)169₹14,835
Retail (Max)13897₹192,855
S-HNI (Min)14966₹207,690
S-HNI (Max)674,623₹993,945
B-HNI (Min)684,692₹1,008,780

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2020FY 2021FY 2022
Net income24.1920.9143.87
Margin (%)1.891.462.60
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio11.14 – 11.74
RONW (%)9.0616.0120.78
ROCE (%)10.5413.7717.71
EBITDA (%)4.856.207.06

Company Promoters

  • Grandhi Bharata Mallika Ratna Kumari (HUF)
  • Bharata Mallika Ratna Kumari Grandhi
  • Grandhi Sai Keerthana

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding74.27%

Lead Manager(s)

  • Bajaj Capital Limited
  • Elara Capital (India) Private Limited

IPO Registrar

S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200

Contact Details

D. No. 47-10-19, 2nd Lane, Dwarakanagar,
Visakhapatnam, Andhra Pradesh – 530 016
Phone: +(91) 089 1663 6666

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

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