Manoj Vaibhav Gems ‘N’ Jewellers IPO Review

 
Manoj Vaibhav Gems 'N' Jewellers IPO Review

IPO Open Date: September 22, 2023

IPO Close Date: September 26, 2023

IPO Price: ₹204 to ₹215 per share

Lot Size: 69 Shares

Listing: October 6, 2023

Manoj Vaibhav Gems 'N' Jewellers



Manoj Vaibhav Gems ‘N' Jewellers is scheduled to hit the market on September 22, 2023 and close on September 26, 2023. Manoj Vaibhav Gems ‘N' Jewellers plans to raise around ₹270.20 Cr through an IPO with a sale of up to 12,567,442 equity shares of ₹10 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.

Established in 2003, Manoj Vaibhav Gems ‘N' Jewellers Limited, also known as Vaibhav Jewellers, is a prominent regional jewelry brand based in South India. Vaibhav Jewellers specializes in a wide array of jewelry products, including gold, silver, and diamond jewelry, as well as precious gemstones. They make these offerings available to customers through both their physical retail showrooms and their online platform.

Vaibhav Jewellers has a strong presence across micro markets in Andhra Pradesh and Telangana, catering to diverse economic segments in both rural and urban areas. The company distinguishes itself by prioritizing ‘Relationships, by Design,' focusing on delivering exceptional designs, top-notch quality, transparency, and outstanding customer service.

Manoj Vaibhav Gems ‘N' Jewellers IPO Details

Manoj Vaibhav Gems ‘N' Jewellers IPO opens on Sept 22, 2023, and closes on Sep 26, 2023. The Listing date for Manoj Vaibhav Gems ‘N' Jewellers IPO is on Oct 06, 2023. The price band for IPO is ₹204 to ₹215 per share and lot size of 69 Shares.

IPO DateSept 22, 2023 to Sept 26, 2023
Listing DateOct 06, 2023
Price₹204 to ₹215 per share
Lot Size69 Shares
Issue Size₹270.20 Cr
Face Value₹10 per share

Manoj Vaibhav Gems ‘N' Jewellers IPO Tentative Timetable

Manoj Vaibhav Gems ‘N' Jewellers opening date is September 22, 2023 and close date is September 26, 2023. The IPO allotment date is October 3, 2023. The refund initiation of IPO is on October 4, 2023. The credit of shares in demat account is on October 5, 2023. The listing date is on October 6, 2023.

EventDate
IPO OpeningSept 22 2023
IPO ClosingSept 26, 2023
IPO Allotment DateOct 03, 2023
Refund InitiationOct 04, 2023
Shares Credit to DematOct 05, 2023
Lisiting DateOct 06, 2023

Manoj Vaibhav Gems ‘N' Jewellers IPO Lot Size

Lot Size of this IPO is 69 shares. A retail-individual investor can apply for up to 13 lots (897 shares or ₹192,855).

CategoryLotsSharesAmount
Retail(Minimum)169₹14,835
Retail(Maximum)13897₹192,855
S-HNI (Minimum)14966₹207,690
B-HNI (Minimum)684,692₹1,008,780

Manoj Vaibhav Gems ‘N' Jewellers IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding74.27%

Manoj Vaibhav Gems ‘N' Jewellers IPO Review

Manoj Vaibhav Gems N Jewellers Ltd. (MVGJL) is a notable regional jewelry brand based in South India. Led by a first-generation woman entrepreneur, Mrs. Bharata Mallika Ratna Kumari Grandhi, and her daughter Grandhi Sai Keerthana, the company has established itself as a prominent player in the Andhra Pradesh and Telangana jewelry market. MVGJL operates a network of 13 showrooms across 8 towns and 2 cities in Andhra Pradesh and Telangana, making it a hyperlocal jewelry retail chain. The company holds a market share of approximately 4% in the overall jewelry market of these states and about 10% in the organized segment.

The company focuses on both rural and urban markets, catering to various economic segments. With a strong emphasis on relationships, design, quality, transparency, and customer service, MVGJL positions itself as a retailer focused on customer satisfaction. The rural market in Andhra Pradesh and Telangana contributes significantly to the jewelry market, making it a potential growth area. MVGJL's IPO plans include funding for new showrooms and working capital requirements, indicating its intention to further expand its footprint.

The IPO comprises both fresh equity shares and an offer for sale, with a price band of Rs. 204 to Rs. 215 per share. It is scheduled to open for subscription on September 22, 2023, and close on September 26, 2023. Investors should assess the company's financials and expansion plans before considering participation in this IPO, given the potential growth prospects in the regional jewelry market.

Manoj Vaibhav Gems ‘N' Jewellers IPO Subscription Status (Bidding Details)

InvestorSubscription
Qualified Institutions (QII)0
Non-Institutional Buyers0
  bNII (bids above ₹10L)0
  sNII (bids below ₹10L)0
Retail Investors(RII)0
Employees0
Others0
Total0

Manoj Vaibhav Gems ‘N' Jewellers IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Manoj Vaibhav Gems ‘N' Jewellers IPO FAQs

What is Manoj Vaibhav Gems ‘N' Jewellers IPO?

Manoj Vaibhav Gems ‘N' Jewellers is issuing 12,567,442 equity shares with a face value of ₹10 each, totaling up to ₹270.20 Cr. The shares are being offered at a price of ₹204 to ₹215 each, with a minimum order quantity of 69 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Manoj Vaibhav Gems ‘N' Jewellers IPO will open?

Manoj Vaibhav Gems ‘N' Jewellers will open on September 22, 2023 for QIB, NII, and Retail Investors.

When Manoj Vaibhav Gems ‘N' Jewellers IPO will end?

Manoj Vaibhav Gems ‘N' Jewellers will end on September 26, 2023.

What is Manoj Vaibhav Gems ‘N' Jewellers IPO Size?

Manoj Vaibhav Gems ‘N' Jewellers IPO size is 270.20 Cr.

What is Manoj Vaibhav Gems ‘N' Jewellers IPO Price Band?

Manoj Vaibhav Gems ‘N' Jewellers price band is ₹204 to ₹215.

What is the Manoj Vaibhav Gems ‘N' Jewellers IPO Allotment Date?

Manoj Vaibhav Gems ‘N' Jewellers allotment date is 03 October 2023.

What is the Manoj Vaibhav Gems ‘N' Jewellers IPO Listing Date?

Manoj Vaibhav Gems ‘N' Jewellers listing date is 06 October 2023. The IPO is to be listed on BSE and NSE.

How to Apply Manoj Vaibhav Gems ‘N' Jewellers IPO through Zerodha?

To apply for the IPO “Manoj Vaibhav Gems ‘N' Jewellers” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Manoj Vaibhav Gems ‘N' Jewellers IPO through Upstox?

To apply for the IPO “Manoj Vaibhav Gems ‘N' Jewellers” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Manoj Vaibhav Gems ‘N' Jewellers IPO Allotment Status?

For Manoj Vaibhav Gems ‘N' Jewellers IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Manoj Vaibhav Gems ‘N' Jewellers IPO GMP?

You can check out here: Manoj Vaibhav Gems ‘N' Jewellers IPO GMP

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