Vaibhav Jewellers IPO To Open On 22nd Sept: Check Price, Lot Size & More

The price band for the Initial Public Offering (IPO) of Manoj Vaibhav Gems 'N' Jewellers Limited, scheduled to begin on Friday, September 22, 2023, is set at Rs 204 to Rs 215 per equity share. The company's initial public offering (IPO) will be available for subscription starting on Friday, September 22, 2023, and it will end on Tuesday, September 26, 2023.

Investors may place a minimum bid of 69 equity shares and any subsequent bids in multiples of 69 equity shares. The fresh issue of equity shares with a face value of up to Rs 210 crore and an offer for sale (OFS) of up to 2.8 million equity shares make up the public offering of equity shares with a face value of Rs 10 per equity share.

The floor price is 20.4x the face value of the equity share and the cap price is 21.5x the face value of the equity share.
Revenue from operations for the quarter ended June 30, 2023, was Rs. 508,90 crore, while net profit was Rs. 19,24 crore. It generated Rs 2027.34 cr in revenue from operations in FY 23; the majority of this came from the sale of gold jewellery.

It was worth Rs 50.9 crore in 2005. For the fiscal year 2023, the average revenue and EBITDA metrics for jewellery brands per retail showroom were Rs 155.95 cr and Rs 11.00 cr, respectively. Revenue and PAT climbed by 18.92% and 85.81%, respectively, between FY21 and FY23. The e-commerce sales of Vaibhav Jewellers grew from Rs 4.16 cr in FY 19 to Rs 36.40 cr in FY 23.

The book-running lead managers of the offer are Elara Capital (India) Private Limited and Bajaj Capital Limited, and the registrar is Bigshare Services Private Limited. The equity shares are proposed to be listed on BSE and NSE on Friday, October 6, 2023.
With 13 showrooms spread across 8 towns and 2 cities and a market share of 4% of the overall jewellery market in Andhra Pradesh and Telangana as well as 10% of the organised market in these two states in FY2023, Vaibhav Jewellers is a leading regional jewellery brand in South India.

The remaining retail showrooms, which serve urban consumers, are located in Hyderabad and Vishakhapatnam, with 77% of them located in Tier 2 and Tier 3 cities. Each of its showroom homes offers a vast, elegant, and diverse selection of designs for jewellery or other products made of gold, diamonds, gems, platinum, or silver. Its sub-brand Visesha serves the high-end gold and diamond jewellery market.

The GMP for the IPO of Manoj Vaibhav Gems has not yet opened as per the market watchers of the grey market. In March 1989, Manoj Vaibhav Gems 'N' Jewellers Limited was founded.