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Manoj Vaibhav Gems N Jewellers IPO

  • Status: Closed
  • RHP:
  • ₹ 14,076 / 69 shares

    Minimum Investment

IPO Details

  • Open Date

    22 Sep 2023

  • Close Date

    26 Sep 2023

  • IPO Price Range

    ₹ 204 to ₹ 215

  • IPO Size

    ₹ 270.20 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    06 Oct 2023

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IPO Timeline

Manoj Vaibhav Gems N Jewellers IPO Subscription Status

Last Updated: 28 September 2023 7:24 AM by 5Paisa

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:

 

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

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


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.

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FAQs

The minimum lot size of Manoj Vaibhav Gems 'N' Jewellers IPO is 69 shares and the investment required is ₹14,076.

The price band of Manoj Vaibhav Gems 'N' Jewellers IPO is ₹204 to ₹215.

Manoj Vaibhav Jewellers is open from 22nd September to 26th September 2023.

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. 

The share allotment date OF Manoj Vaibhav Gems 'N' Jewellers IPO is the 3rd of October 2023.

The Manoj Vaibhav Gems 'N' Jewellers IPO will be listed on the 6th of October 2023.

Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers for 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.

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.