Vaibhav Jewellers IPO Opens Today: Rs 81 Cr Raised From Anchor Investors

Manoj Vaibhav Gems N Jewellers, headquartered in Andhra Pradesh, raised Rs 81.06 crore from eight anchor investors on September 21 before the issue launch, which is set to open for subscriptions today. The investors in the anchor book include Quantum-State Investment Fund, Tano Investment Opportunities Fund, Nexus Global Opportunities Fund, Coeus Global Opportunities Fund, Neomile Growth Fund, AG Dynamic Funds, Chhattisgarh Investments, and Eminence Global Fund. The issuance of 37,70,160 equity shares to anchor investors at a price of Rs 215 per share has been finalised, Vaibhav Jewellers announced to exchanges.

The subscription period for Vaibhav Jewellers initial public offering (IPO) will begin on Friday, September 22 and end on Tuesday, September 26. For the public offering, the jewellery company has set the price band at between Rs 204 and Rs 215 per equity share with a face value of Rs 10 apiece.

The initial public offering consists of a new issuance of 0.98 crore shares totalling Rs. 210.00 crore and an offer to sale (OFS) of 0.28 crore shares totalling Rs. 60.20 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).

69 Shares are the minimum possible lot size for an application hence retail investors must make a minimum investment of Rs 14,835. For small NII, the minimum investment lot size is 14 lots worth 966 shares, which is equal to Rs 207,690, and for big NII, it is 68 lots worth 4,692 shares, which is equal to Rs 1,008,780.

Manoj Vaibhav Gems 'N' Jewellers IPO consists of a total share issuance of 12,567,369 shares. 2,513,488 shares or 20.00% of the issue reserved for QIB, 4,398,605 shares or 35.00% of the issue size reserved for the retail category and 1,885,116 shares or 15.00% of the remaining reserved for the NII category.

The share allotment for Vaibhav Jewellers IPO will be settled on Tuesday, October 3, and the company will start issuing refunds on Wednesday, October 4. On Thursday, October 5, the shares will be credited to the demat accounts of the allottees. On Friday, October 6, Vaibhav Jewellers shares are most likely to list on the BSE and NSE.

The book-running lead managers of the IPO are Elara Capital (India) Private Limited and Bajaj Capital Limited, and the registrar is Bigshare Services Private Limited.