What you must know about Manoj Vaibhav Gems ‘N’ Jewellers IPO?
by 5paisa Research Team
18 Sep 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 03-Oct-23
- IPO Price Range ₹215
- Listing Price ₹215
- Listing Change 0.0 %
- Last Traded Price ₹251.75
- Current Change 17.1 %
Manoj Vaibhav Gems IPO Details
- Open Date 22-Sep-23
- Close Date 26-Sep-23
- Lot Size 69
- IPO Size ₹ 270.20 Cr
- IPO Price Range ₹ 204 to ₹ 215
- Min Investment ₹ 14076
- Listing Exchange BSE, NSE
- Basis of Allotment 03-Oct-23
- Refunds 04-Oct-23
- Credit to Demat Account 05-Oct-23
- Listing Date 06-Oct-23
Manoj Vaibhav Gems N Jewellers IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 22-Sep-23 | 0.00 | 0.05 | 0.26 | 0.14 |
| 25-Sep-23 | 0.34 | 0.59 | 0.77 | 0.61 |
| 26-Sep-23 | 1.08 | 5.40 | 1.73 | 2.33 |
Manoj Vaibhav Gems IPO Synopsis
Manoj Vaibhav Gems 'N' Jewellers Limited IPO is all set to open from 22nd September to 26th September 2023. The company operates as a regional jewellery brand in South India. The IPO includes a fresh issue of 9,767,442 equity shares worth ₹210.00 cr and an Offer For Sale (OFS) of 2,800,000 equity shares worth ₹62.20 cr. The total IPO size is ₹270.20 cr. The share allotment date is 3rd October, and the IPO will be listed on 6th October on the stock exchanges. The price band is ₹204 to ₹215 per share and the lot size is 69 shares.
Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers for this IPO, while Bigshare Services Pvt Ltd is the registrar.
Objectives of Manoj Vaibhav Gems IPO:
• To finance the capital expenditure cost and inventory cost of the proposed 8 new showrooms.
• Fund general corporate purposes.
Manoj Vaibhav Gems IPO Video:
About Manoj Vaibhav Gems N Jewellers
Established in 2003, Manoj Vaibhav Gems 'N' Jewellers Limited, also recognized as Vaibhav Jewellers is a leading jewellery brand in South India. The company is led by a first-generation woman entrepreneur Mrs. Bharata Mallika Ratna Kumari Grandhi along with her daughter Grandhi Sai Keerthana. Vaibhav Jewellers offers a wide range of jewellery, including gold, silver, and diamond pieces, as well as precious gemstones, which are available for purchase through their retail outlets and website.
The company’s market reach extends to various economic segments in the micro-markets of Andhra Pradesh and Telangana. They serve both rural and urban customers through their physical stores and website. Currently, Vaibhav Jewellers has 13 showrooms, including 2 franchisee-operated showrooms, strategically situated in 8 towns and 2 cities across Andhra Pradesh and Telangana.
The company focuses on its motto Relationships, by Design and prides itself on its commitment to fostering meaningful customer relationships, emphasizing the core values of design excellence, top-notch quality, transparency, and exceptional customer service.
Peer Comparison
• Titan Company Ltd
• Thangamayil Jewellery Ltd
• Kalyan Jewellers India Ltd
• Tribhovandas Bhimji Zaveri Limited
For More Information:
Webstory on Manoj Vaibhav Gems 'N' Jewellers IPO
Manoj Vaibhav Gems N Jewellers Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 2027.34 | 1693.92 | 1433.57 |
| EBITDA | 143.05 | 104.96 | 69.55 |
| PAT | 71.59 | 43.68 | 20.74 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 1077.86 | 899.53 | 803.09 |
| Share Capital | 39.08 | 9.77 | 9.77 |
| Total Borrowings | 733.30 | 626.67 | 574.11 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 69.20 | 8.96 | -11.51 |
| Net cash from / (used in) investing activities | -3.53 | 1.30 | 10.90 |
| Net cash flow from / (used in) financing activities | -58.80 | -25.59 | 4.27 |
| Net increase (decrease) in cash and cash equivalents | 6.87 | -15.33 | 3.67 |
Manoj Vaibhav Gems IPO Key Points
-
Strengths
1. The company is a key leading home-grown regional brand built on hyperlocal retail strategy.
2. It has an early mover advantage in the state of Andhra Pradesh.
3. It focuses on the rural market for fortifying the business.
4. Via its operating ethos of ‘Relationships, by Design’, the company offers diverse product designs at varied price ranges to customers across budget brackets.
5. Wider market reach and a loyal customer base.
6. Employees and customers act as the real Brand Ambassadors of the company. -
Risks
1. The non-availability or high cost of quality gold bullion, silver, diamonds and other precious and semi-precious stones may have an adverse effect on the business.
2. Higher working capital requirements and negative cash flows.
3. The showrooms are spread across the states of Andhra Pradesh and Telangana only.
4. Operates in a competitive market and faces competition from other jewellery retailers.
5. Changes in customer preferences can impact the business as jewellery is considered a luxurious purchase.
6. The income and sales are subject to seasonal fluctuations and lower income in a peak season may have a disproportionate effect on the operations and the business.
Manoj Vaibhav Gems
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Manoj Vaibhav Gems IPO FAQs
What is the minimum lot size and investment required for the Manoj Vaibhav Gems 'N' Jewellers IPO?
The minimum lot size of Manoj Vaibhav Gems 'N' Jewellers IPO is 69 shares and the investment required is ₹14,076.
What is the price band of the IPO?
The price band of Manoj Vaibhav Gems 'N' Jewellers IPO is ₹204 to ₹215.
When does the Manoj Vaibhav Gems 'N' Jewellers issue open and close?
Manoj Vaibhav Jewellers is open from 22nd September to 26th September 2023.
What is the size of the Manoj Vaibhav Gems 'N' Jewellers IPO issue?
The Manoj Vaibhav Gems 'N' Jewellers IPO size is ₹730.00 cr., which includes a fresh issue of 9,767,442 equity shares worth ₹210.00 cr and an Offer For Sale (OFS) of 2,800,000 equity shares worth ₹62.20 cr.
What is the allotment date of the Manoj Vaibhav Gems 'N' Jewellers IPO?
The share allotment date OF Manoj Vaibhav Gems 'N' Jewellers IPO is the 3rd of October 2023.
What is the Manoj Vaibhav Gems 'N' Jewellers IPO listing date?
The Manoj Vaibhav Gems 'N' Jewellers IPO will be listed on the 6th of October 2023.
Who are the book runners for the Manoj Vaibhav Gems 'N' Jewellers IPO?
Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers for Manoj Vaibhav Gems 'N' Jewellers IPO.
What is the objective of Manoj Vaibhav Gems 'N' Jewellers IPO?
Manoj Vaibhav Jewellers plans to utilize the raised capital from IPO to:
1. To finance the capital expenditure cost and inventory cost of the proposed 8 new showrooms.
2. Fund general corporate purposes.
How to apply for the Manoj Vaibhav Gems 'N' Jewellers IPO?
To apply for the IPO, follow the steps given below
• Login to your 5paisa account and select the issue in the current IPO section
• Enter the number of lots and the price at which you wish to apply for the Manoj Vaibhav Gems 'N' Jewellers IPO.
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
• You will receive a mandate notification to block funds in your UPI app.
Contact Details of Manoj Vaibhav Gems N Jewellers IPO
Contact Information
Manoj Vaibhav Gems 'N' Jewellers Limited
47-15-8, V Square, Zone-A, Opp: TSR Complex,
Station Road, Dwarakanagar,
Visakhapatnam - 530016
Phone: + (91) 89 1663 7777
Email: cs@vaibhavjewellers.com
Website: https://www.vaibhavjewellers.com/
Manoj Vaibhav Gems N Jewellers IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Manoj Vaibhav Gems N Jewellers IPO Lead Manager
Bajaj Capital Limited
Elara Capital (India) Private Limited
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