Manoj Vaibhav Gems N Jewellers IPO: Check IPO Details, Date, Price | Espresso

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Manoj Vaibhav Gems N Jewellers Limited IPO opens on September 22. Check IPO Details Issue Date Price

September 22, 2023
Manoj Vaibhav Gems N Jewellers Limited IPO opens on September 22. Check IPO Details Issue Date Price

Manoj Vaibhav Gems N Jewellers Limited is coming out with a fresh public issue to raise Rs. 270.20 crores from the market.

Below are the details of the Manoj Vaibhav Gems N Jewellers Limited IPO:

  • Issue opens – September 22 (Friday)
  • Issue closes – September 26 (Wednesday)
  • Issue size – Rs270.20 crores
  • Price band – Rs. 204 to Rs. 215 per equity share
  • Bid lot – 69 shares and in multiples thereof.

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And here are some details of the company and further details on the Manoj Vaibhav Gems N Jewellers Limited IPO.

Company details:

  • Manoj Vaibhav Jewellers, are a leading regional jewellery brand in South India led by a first generation woman entrepreneur Mrs. Bharata Mallika Ratna Kumari Grandhi along with her daughter Grandhi Sai Keerthana (Source: Technopak Report). They are a hyperlocal jewellery retail chain with presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities. They have a market share of ~4% of the overall Andhra Pradesh and Telangana jewellery market and ~10% of the organised market in these two states in FY2023, as per the Technopak Report.
  • They cater to all economic segments of the micro markets of Andhra Pradesh and Telangana through their dedicated branded showrooms and have a strong rural market focus and a dedicated urban focus also. They have positioned themselves as a retailer focused on ‘Relationships, by Design’ where they focus on offering designs, high quality, transparency and customer service to their customers. They connect with target groups through exhibitions to understand the taste and preference of the customers through their “Go to Marketing Strategy”.
  • They have developed goodwill with their presence of over 28 years in the markets that they operate. Their brand, Vaibhav Jewellers, is a known name in Andhra Pradesh & Telangana with a loyal customer base. Each of their showroom houses varied exquisite and large inventory of designs across wide range of products in Gold, Diamond, Gems, Platinum & Silver Jewellery and / or articles.

Issue Size:

Rs. 270.20 crores

Issue break-up:

  • QIB – 50% of the offer – Rs. 135.10 crores
  • NIB – 15% of the offer – Rs. 40.53 crores
  • RET – 35% of the offer – Rs. 94.57 crores

Listing:

BSE and NSE

Registrar:

Bigshare Services Private Limited

UPI:

All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Tuesday, September 26, 2023     

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