IPO Details
Bidding Dates
22 Sep '23 - 26 Sep '23
Minimum Investment
₹14,835 / 1 Lot (69 Shares )
Price Range
₹204 - ₹215
Maximum Investment
₹192,855 / 13 Lots ( 897 Shares )
Retail Discount
Not Applicable
Issue Size
₹270.20 Cr
Investor category and sub category
Qualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 23, 2023
IPO Closing Date
Sep 26, 2023
Basis of Allotment
Oct 3, 2023
Initiation of Refunds
Oct 4, 2023
Credit of Shares to Demat Account
Oct 5, 2023
IPO Listing Date
Oct 6, 2023
UPI mandate confirmation
Sep 26, 2023
Manoj Vaibhav Gems 'N' Jewellers IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Sep 22, 2023 |
0.00 | 0.05 | 0.26 | 0.14 |
Day 2Sep 25, 2023 |
0.34 | 0.59 | 0.77 | 0.61 |
Day 3Sep 26, 2023 |
1.08 | 5.38 | 1.69 | 2.30 |
Manoj Vaibhav Gems 'N' Jewellers IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institution Buyers | 1.08 |
| Non-Institutional Buyers | 5.38 |
| Retail Investors | 1.69 |
| Total | 2.30 |
About Manoj Vaibhav Gems 'N' Jewellers Ltd.
Manoj Vaibhav Gems 'N' Jewellers Limited was incorporated in 2003. It is also known as Vaibhav Jewellers, a regional jewellery brand in South India. The company’s offerings include gold, silver, and diamond jewellery, precious gemstones, and other jewellery products through retail showrooms and its website. The company derives revenue from its 13 showrooms (including two franchisee showrooms) across 8 towns and 2 cities in Andhra Pradesh & Telangana.
The company serves all economic segments of the Andhra Pradesh and Telangana micro markets via its retail showrooms and online presence. It is more focused on both rural and urban markets. The company has positioned itself as a shop with a "Relationships, by Design" philosophy, emphasising delivering customer designs, high quality, transparency, and customer service.
Regarding culture, the jewellery industry has always been a significant savings asset in the eyes of Indian society. This is because it protects us from market crashes and because liquid assets may be quickly accessed in an emergency. The rising income profile of India is the main development factor in the jewellery industry. The company's revenue comes from retail outlets, and till FY 2027, the Indian retail market is anticipated to expand at a CAGR of 10.5%.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Details
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Date
Manoj Vaibhav Gems 'N' Jewellers Limited IPO combines a fresh issue and an Offer for Sale. The fresh issue comprises 97,67,442 shares aggregating up to ₹210.00 crore, and the offer for sale comprises 28,00,000 shares of ₹10 aggregating up to ₹60.20 crore. Manoj Vaibhav Gems 'N' Jewellers Limited ’s IPO will be listed on the BSE and NSE on October 06, 2023. It is a book-built-issue IPO.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Price Band
The price range of the IPO has been fixed at ₹204 to ₹215 per share.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Lot Size
The Manoj Vaibhav Gems 'N' Jewellers Limited IPO lot size is 69 shares, and the minimum investment will be ₹14,835.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Objectives
The objectives of Manoj Vaibhav Gems 'N' Jewellers Limited IPO are listed below:
- For financing capital expenditure and inventory costs for the proposed 8 new showrooms.
- For general corporate purposes.
Manoj Vaibhav Gems 'N' Jewellers Limited was incorporated in 2003. It is also known as Vaibhav Jewellers, a regional jewellery brand in South India. The company’s offerings include gold, silver, and diamond jewellery, precious gemstones, and other jewellery products through retail showrooms and its website. The company derives revenue from its 13 showrooms (including two franchisee showrooms) across 8 towns and 2 cities in Andhra Pradesh & Telangana.
The company serves all economic segments of the Andhra Pradesh and Telangana micro markets via its retail showrooms and online presence. It is more focused on both rural and urban markets. The company has positioned itself as a shop with a "Relationships, by Design" philosophy, emphasising delivering customer designs, high quality, transparency, and customer service.
Regarding culture, the jewellery industry has always been a significant savings asset in the eyes of Indian society. This is because it protects us from market crashes and because liquid assets may be quickly accessed in an emergency. The rising income profile of India is the main development factor in the jewellery industry. The company's revenue comes from retail outlets, and till FY 2027, the Indian retail market is anticipated to expand at a CAGR of 10.5%.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Details
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Date
Manoj Vaibhav Gems 'N' Jewellers Limited IPO combines a fresh issue and an Offer for Sale. The fresh issue comprises 97,67,442 shares aggregating up to ₹210.00 crore, and the offer for sale comprises 28,00,000 shares of ₹10 aggregating up to ₹60.20 crore. Manoj Vaibhav Gems 'N' Jewellers Limited ’s IPO will be listed on the BSE and NSE on October 06, 2023. It is a book-built-issue IPO.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Price Band
The price range of the IPO has been fixed at ₹204 to ₹215 per share.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Lot Size
The Manoj Vaibhav Gems 'N' Jewellers Limited IPO lot size is 69 shares, and the minimum investment will be ₹14,835.
Manoj Vaibhav Gems 'N' Jewellers Limited IPO Objectives
The objectives of Manoj Vaibhav Gems 'N' Jewellers Limited IPO are listed below:
- For financing capital expenditure and inventory costs for the proposed 8 new showrooms.
- For general corporate purposes.
Peer Details
As per DRHP, Manoj Vaibhav Gems 'N' Jewellers Limited has 4 listed peers:
- Titan Company Limited
- Thangamayil Jewellery.
- Kalyan Jewellers India Limited
- Tribhovandas Bhimji Zaveri Limited
How To Check the Allotment Status of the Manoj Vaibhav Gems 'N' Jewellers Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Manoj Vaibhav Gems 'N' Jewellers Limited
Registered office: 47-15-8, V Square, Zone-A, Opp: TSR Complex, Station Road, Dwarakanagar, Visakhapatnam -530016, Andhra Pradesh, India.
Phone: + (91) 89 1663 7777
E-mail:cs@vaibhavjewellers.com
Manoj Vaibhav Gems 'N' Jewellers Company Financials
| Financial year | FY23 (₹ in lakh) | FY22 (₹ in lakh) | FY21 (₹ in lakh) |
|---|---|---|---|
| Total Income | 2,031.30 | 1,697.70 | 1,443.18 |
| Profit After Tax (PAT) | 71.60 | 43.68 | 20.74 |
| Assets | 1,077.86 | 899.53 | 803.10 |
| Total Borrowings | 460.00 | 477.73 | 463.43 |
Know before investing
Strengths
3-
The company’s expertise in micro markets of Andhra Pradesh and Telangana over a period has helped the business to build a key leading home-grown regional brand on hyperlocal retail strategy.
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The company possesses the first-mover advantage in Andhra Pradesh. It has helped to achieve a market share of ~5% of the overall Andhra Pradesh and Telangana jewellery market and ~14% of the organised market in FY 2021.
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Looking forward, the company will focus on expanding in the untapped sections of the micro markets of Andhra Pradesh and Telangana and developing those markets for organised jewellery sales.
Risks
3-
The company is exposed to risks from the unavailability or high cost of quality gold bullion, silver, diamonds and other precious and semi-precious stones.
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The company has a history of negative cash flows, which is alarming for any business. This could impact the operational and financial performance of the business.
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The company's business is prone to seasonal swings, and reduced income during a peak season could significantly affect its operating results and hurt its bottom line.
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Manoj Vaibhav Gems ‘N’ Jewellers IPO FAQs
Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO is a mix of fresh issue and offer for sale. The fresh issue comprises 97,67,442 shares aggregating up to ₹210.00 crore, and the offer for sale comprises 28,00,000 shares of ₹10 aggregating up to ₹60.20 crore. The price range of the IPO has been decided at ₹204 to ₹215 per share.
The Basis of Allotment will be on October 03, 2023.
The IPO subscription window will open on September 22, 2023.
Retail investors can apply for a minimum of one lot containing 69 shares.
Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO will be listed on BSE and NSE. The date of listing is October 06, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before listing the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
