Manoj Vaibhav Gems ‘N’ Jewellers Limited also known as Vaibhav Jewellers is a regional jewelry brand in South India. The company has 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities in Andhra Pradesh & Telangana.
The company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms as well as through its website – www.vaibhavjewellers.com.
Vaibhav Jewellers’ cater to all economic segments of the micro markets of Andhra Pradesh and Telangana through their retail showrooms and their website with a focus on both rural and urban markets. The company has positioned itself as a retailer focussed on ‘Relationships, by Design’ where it focuses on offering designs, high quality, transparency, and customer service to its customers.
In 2007 the company has launched V Square, Vaibhav Jewellers flagship showroom, which is one of the largest in Visakhapatnam, Andhra Pradesh with 29,946 sq.ft jewellery retail space and is one of India’s largest ISO certified jewellery showroom.
Manoj Vaibhav Gems ‘N’ Jewellers IPO – Details
| IPO Opening Date | 22 September 2023 |
| IPO Closing Date | 26 September 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,25,67,442 Shares Worth ₹270.20 Crore Fresh Issue: 97,67,442 Shares Worth ₹210 Crore Offer for Sale: 28,00,000 Shares Worth ₹60.20 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹204 – ₹215 |
| Market Lot | 69 Shares |
| Min Order | 69 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Manoj Vaibhav Gems ‘N’ Jewellers IPO – Date Schedule
| IPO Open Date | 22 September 2023 |
| IPO Close Date | 26 September 2023 |
| Basis of Allotment Date | 28 September 2023 |
| Initiation of Refunds | 29 September 2023 |
| Credit of Shares to Demat Account | 03 October 2023 |
| IPO Listing Date | 03 October 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 26 September 2023 |
Manoj Vaibhav Gems ‘N’ Jewellers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 69 | 14,835 |
| Retail (Max) | 13 | 897 | 1,92,855 |
| S-HNI (Min) | 14 | 966 | 2,07,690 |
| S-HNI (Max) | 67 | 4623 | 9,93,945 |
| B-HNI (Min) | 68 | 4692 | 10,08,780 |
Competitive Strengths
- The company is a key leading home-grown regional brand built on hyperlocal retail strategy.
- The company has an early mover advantage in the state of Andhra Pradesh.
- The company has fortified Vaibhav Jewellers business initially with focus by catering customers in both rural and urban areas and the company has been slowly moving towards capturing and expanding over brand in Tier II and Tier III cities.
- The company, through its operating ethos of ‘Relationships, by Design’, offer diverse product designs at varied price range to customers across budget bracket.
- Vaibhav Jewellers Go To Market strategy is the key business enabler thereby providing wider market reach; deep customer connect and have enabled us to build a loyal customer base.
- Vaibhav Jewellers experienced promoter and professional senior management team has enabled us in seamless strategy implementation and business operations.
- Vaibhav Jewellers employees and Customers is the real Brand Ambassadors.
- Vaibhav Jewellers ability to define operating parameters and internal control measures that enables us to perform as well as grow business across the micro market of Andhra Pradesh and Telangana.
Company Promoters
- Grandhi Bharata Mallika Ratna Kumari (HUF)
- Bharata Mallika Ratna Kumari Grandhi
- Grandhi Sai Keerthana
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 1443.17 | 1404.11 | 20.73 | 463.43 |
| 31 March 2022 | 1697.69 | 1639.28 | 43.67 | 477.73 |
| 31 March 2023 | 2031.30 | 1935.46 | 71.59 | 460.00 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 11.74 |
| Market Cap (₹ Cr.) | 1050.22 |
| ROE | 23.19 |
| ROCE | 17.71 |
| Debt/Equity | 1.34 |
| EPS (Rs) | 18.32 |
| RoNW | 20.78 |
Object Of The Issue
- Estimated capital expenditure cost for the proposed eight (8) new showrooms.
- Estimated inventory cost for New Showrooms proposed to be opened.
- General corporate purposes.
Manoj Vaibhav Gems ‘N’ Jewellers IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Titan Company Ltd | 89.80 |
| 2 | 10 | Thangamayil Jewellery Ltd | 28.10 |
| 3 | 10 | Kalyan Jewellers India Ltd | 48.10 |
| 4 | 10 | Tribhovandas Bhimji Zaveri Limited | 15.20 |
Manoj Vaibhav Gems ‘N’ Jewellers IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 74.27% |
Manoj Vaibhav Gems ‘N’ Jewellers IPO Prospectus
Company Contact Information
| Manoj Vaibhav Gems ‘N’ Jewellers Limited 47-15-8, V Square, Zone-A, Opp: TSR Complex, Station Road, Dwarakanagar, Visakhapatnam – 530016 Phone: + (91) 89 1663 7777 Email: cs@vaibhavjewellers.com Website: https://www.vaibhavjewellers.com/ |
Manoj Vaibhav Gems ‘N’ Jewellers IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Manoj Vaibhav Gems ‘N’ Jewellers IPO Lead Manager(s)
| 1. Bajaj Capital Limited 2. Elara Capital (India) Private Limited |
Manoj Vaibhav Gems ‘N’ Jewellers IPO FAQs
| What is Manoj Vaibhav Gems ‘N’ Jewellers IPO? Manoj Vaibhav Gems ‘N’ Jewellers IPO is a main-board IPO. The issue is priced at ₹204 to ₹215 per equity share. The IPO is to be listed on BSE & NSE. |
| When Manoj Vaibhav Gems ‘N’ Jewellers IPO will open? The IPO is to open on 22 September 2023 for QIB, NII, and Retail Investors. |
| What is Manoj Vaibhav Gems ‘N’ Jewellers IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Manoj Vaibhav Gems ‘N’ Jewellers IPO? You can apply Manoj Vaibhav Gems ‘N’ Jewellers IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Manoj Vaibhav Gems ‘N’ Jewellers IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Manoj Vaibhav Gems ‘N’ Jewellers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Manoj Vaibhav Gems ‘N’ Jewellers IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Manoj Vaibhav Gems ‘N’ Jewellers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Manoj Vaibhav Gems ‘N’ Jewellers IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Manoj Vaibhav Gems ‘N’ Jewellers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Manoj Vaibhav Gems ‘N’ Jewellers IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Manoj Vaibhav Gems ‘N’ Jewellers”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Manoj Vaibhav Gems ‘N’ Jewellers IPO Size? Manoj Vaibhav Gems ‘N’ Jewellers IPO size is ₹270.20 Crore. |
| What is Manoj Vaibhav Gems ‘N’ Jewellers IPO Price Band? Manoj Vaibhav Gems ‘N’ Jewellers IPO Price Band is ₹204 to ₹215. |
| What is Manoj Vaibhav Gems ‘N’ Jewellers IPO Minimum and Maximum Lot Size? The minimum bid is 69 Shares with ₹14,835 amount while the maximum bid is 897 shares with ₹1,92,855. |
| What is the Manoj Vaibhav Gems ‘N’ Jewellers IPO Allotment Date? Manoj Vaibhav Gems ‘N’ Jewellers IPO allotment date is 28 September 2023. |
| What is the Manoj Vaibhav Gems ‘N’ Jewellers IPO Listing Date? Manoj Vaibhav Gems ‘N’ Jewellers IPO listing date is 03 October 2023. The IPO is to list on BSE and NSE. |
