Manoj Vaibhav Gems IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 26, 2023Manoj Vaibhav Gems IPO is going to be a Fresh Issue of Equity Shares and an Offer for Sale. The company has a remarkable presence in South India with Andhra Pradesh and Telangana micro markets.
Manoj Vaibhav Gems aims to raise up to Rs. 210 crores through the fresh issue. Further, one of the company’s promoters will be selling their shares in the upcoming IPO.
The company has filed the DRHP with the capital market regulator, and in this Manoj Vaibhav Gems IPO Review, they will be discussing everything about this company and its IPO.
| Face Value | Rs.10 |
| Price Band | Rs 204 to Rs 215 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 69 Shares |
| Listing Date | October 6, 2023 |
| Offer for Sale | Rs. 60.20 Crore |
| Fresh Issue | Rs. 210.00 Crore |
| IPO Size | Rs. 270.20 Crore |
| Tick Size | 1 |
Manoj Vaibhav Gems IPO Overview
Manoj Vaibhav Gems ‘N’ Jewellers Limited, also known as Manoj Vaibhav Gems, is gearing up to whoop in the market and swipe out funds through the IPO. The Manoj Vaibhav Gems IPO
will be a combination of a Fresh share issue and an Offer for Sale.
The company has some great growth and expansion plans that will be funded through the proceeds of the IPO.
Investors can place their bids for the allotment via the ASBA process.
Manoj Vaibhav Gems IPO Important Dates
| Events | Date |
| IPO Opening Date | September 22, 2023 |
| IPO Closing Date | September 26, 2023 |
| Basis of Allotment Finalization | October 3, 2023 |
| Refunds Initiation | October 4, 2023 |
| Credit of Shares to Demat Account | October 5, 2023 |
| Share Listing Date | October 6, 2023 |
Manoj Vaibhav Gems IPO Dates will not be announced until it has received SEBI approval. There are various other companies also who are waiting for the SEBI nod.
Manoj Vaibhav Gems recently filed the required draft papers and will take the IPO launch process further after the approval.
IPO dates are determined after considering all the essential factors surrounding the company and the responses from the public.
Manoj Vaibhav Gems IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 204 to Rs 215 |
| Offer for Sale | Rs. 60.20 Crore |
| Fresh Issue | Rs. 210.00 Crore |
| IPO Size | Rs. 270.20 Crore |
Manoj Vaibhav Gems’ IPO Size will comprise the shares offered via the fresh issue and OFS. The IPO is a Book Built Issue, and the Manoj Vaibhav Gems IPO Price will be determined through bidding by investors at various price levels.
The company and the selling shareholders will determine the price band and minimum lot size in consultation with the Book Running Lead Managers. The face value of the equity of Manoj Vaibhav Gems is Rs. 10 each.
Manoj Vaibhav Gems IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
Grey Market is an unregulated trading market. This market can be for trading goods or other commodities; here, they are talking about trading equity shares.
Before an entity lists its shares on the stock exchanges, they can be traded in the Manoj Vaibhav Gems GMP. This trading plays a vital role and helps investors bid at a suitable price for the shares in the IPO.
Manoj Vaibhav Gems IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 22nd Sep | 0.00x | 0.05x | 0.26x | 0.14x |
| 2nd Day – 25th Sep | 0.34x | 0.59x | 0.77x | 0.61x |
| 3rd Day – 26th Sep | 1.08x | 5.40x | 1.73x | 2.33x |
| Shares Offered or Net Issue | 2,513,488 | 1,885,116 | 4,398,605 | 12,567,369 |
Manoj Vaibhav Gems IPO Subscription will last for 3 to 10 working days. This information will be available after the company files the Red Herring Prospectus with the Registrar and has received all in-principle approval from the authorities.
The company will invite bids from investors at various price levels during the subscription process. These levels will range between the price band as provided by the company.
Manoj Vaibhav Gems IPO Allotment Status
Allotment of shares is the step where the equity shares offered in the IPO are credited in the Demat Accounts of the bidders. This process occurs online, and the company does not dispatch any physical share certificates.
The bidders must have a functional Demat Account through which they can trade in the shares of this company and other marketable securities. Manoj Vaibhav Gems Allotment will be out soon.
Manoj Vaibhav Gems IPO Live Performance
Check out the Manoj Vaibhav Gems IPO Price and the ongoing Manoj Vaibhav Gems IPO Performance with just one click. You will get all the details related to this share.
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Manoj Vaibhav Gems – Company Review
Manoj Vaibhav Gems serves as an integral part of the supply chain services. It offers seamless services in the form of Express parcel, Freight, Cross-border services, and other Supply chain services.
As per the RedSeer reports, Manoj Vaibhav Gems happens to be the largest and fastest-growing fully-integrated entity in Fiscal 2021 for their logistic services.
The company aims at proffering high-paced services at low costs. They operate in more than 17000 pin codes embarking their presence in every state and almost every notable city in India with their extensively scaled delivery centers, gateways, sort centers.
Also, they offer cross-border services through a network of global partners. Manoj Vaibhav Gems’s customer base includes large & small e-commerce participants, SMEs, and other leading enterprises & brands.
Products or Services
From Gold to silver or diamond jewelry, Manoj Vaibhav Gems offers every kind of jewel that is irresistible for any woman. They have items for every age and every range.
Just a few items to name that you find at Manoj Vaibhav Gems are Bangles, Harams, Vaddanam, Locket, Vanky, Chain, Rings, Maang Tikka, Bracelets, Choker, Earrings, Pendants, Mangalsutras, nose pins, etc.
You get to choose from an extensive range of jewelry, whether Gold, Silver, or Diamond. They have a website where you will find detailed information.
Promoters and Holding
The founders of the Gurugram based company, Manoj Vaibhav Gems are Grandhi Bharata Mallika Ratna Kumari, Bharata Mallika Ratna Kumari Grandhi, Grandhi Sai Keerthana.
The company is professionally managed and does not have any identifiable promoters. The management of Manoj Vaibhav Gems comprises of the following:
- Bharata Mallika Ratna Kumari Grandhi, in the position of Chairperson and Managing Director
- Grandhi Sai Keerthana, in the position of Whole-time Director and CFO
- Grandhi Sai Sindhuri, in the position of Executive Director
- Adabala Seshagiri Rao, in the position of Independent Director
- Ramesh Babu Nemani, in the position of Independent Director
- Sridevi Dasari, in the position of Independent Director
- Satish Ramanujakoodam, in the position of Chief Executive Officer
- Gontla Rakhal, in the position of Chief Operating Officer
- Bandari Shiva Krishna, in the position of Company Secretary and the Compliance Officer
Is Manoj Vaibhav Gems good for Investment?
Manoj Vaibhav Gems has a stronghold in the South Indian Jewellery Market. The company’s offering includes a wide range of products. The brand has made a place for itself in the market through years of hard work and constant efforts to deliver the best.
The company holds over 14 percent of the market share in Andhra Pradesh and Telangana organized markets. The designs and range offered by Vaibhav Jewellery are also exquisite and alluring.
This upcoming Manoj Vaibhav Gems IPO is a stride towards spreading the company’s presence in a wider area with new stores.
Manoj Vaibhav Gems Financial Statements
| Amount (in INR & Million) | ||||
| 30-Jun-2023 | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | |
| Assets | 10,828.21 | 10,778.57 | 8,995.33 | 8,030.99 |
| Revenue | 5,102.05 | 20,313.03 | 16,976.98 | 14,431.79 |
| Expense | 4,843.60 | 19,354.69 | 16,392.87 | 14,041.17 |
| Profit After Tax | 191.02 | 716.91 | 438.73 | 209.07 |
With an enlarging sum of assets, Manoj Vaibhav Gems is heading the profit road. The company’s total revenue has grown continuously over the period of three financial years.
The total revenue for the financial year 2023 stands at Rs. 20,313.03 million, and the profit after tax for the same period is Rs. 716.91 million, respectively.
The financial statements of Manoj Vaibhav Gems, as given in the RHP, show a year-on-year profit which has widened too with the upscaling of the operations.
As for the EPS, the company’s EPS is Rs. 18.32 as of 31st March 2023. The EPS, too, has doubled in numbers as compared to the previous in which it stood at Rs. 11.18.
| Earnings per Equity Share (in Million) | ||||
| 30-Jun-2023 | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | |
| Basic & Diluted | 4.92 | 18.32 | 11.18 | 5.31 |
Manoj Vaibhav Gems IPO Review
Manoj Vaibhav Gems IPO is a combination of a Fresh Issue of Equity Shares aggregating up to Rs. 210 crores and an offer for sale for up to 43,00,000 equity shares by one of the promoters, Grandhi Bharata Mallika Ratna Kumari (HUF).
The company will be receiving the proceeds from the Fresh Issue, and the selling shareholder will be entitled to the proceeds from the Offer for Sale.
The company is aspiring to utilize the funds from the fresh issue towards setting up eight new showrooms. Further, it will be spent on funding the capital expenditures of the eight retail outlets.
The company will be executing its expansion plans and will take the company on a larger scale.
Manoj Vaibhav Gems IPO Details
Here are a few more details you need to know before investing in Manoj Vaibhav Gems IPO –
Manoj Vaibhav Gems IPO Issue Object
The Manoj Vaibhav Gems has proposed diverse objectives for making the IPO offer and some of the objectives are:
- undertake their existing business activities
- undertake activities proposed to be funded from the Net Proceeds.
Manoj Vaibhav Gems IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- They are a key leading home-grown regional brand built on hyperlocal retail strategy
- They have an early mover advantage in the state of Andhra Pradesh
- They have fortified their business initially with a focus on catering for customers in both rural and urban areas and they have been
slowly moving towards capturing and expanding the brand in Tier II and Tier III cities - They, through their operating ethos of ‘Relationships, by Design’, offer diverse product designs at varied price ranges to
customers across the budget bracket - Their Go To Market strategy is their key business enabler thereby providing wider market reach; deep customer connections and
have enabled them to build a loyal customer base - Their experienced promoter and professional senior management team have enabled them in seamless strategic implementation
and business operations - Their employees and Customers are their real Brand Ambassadors
- Their ability to define operating parameters and internal control measures enables them to perform as well as grow
business across the micro market of Andhra Pradesh and Telangana.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 11.18 | 16.01 | 69.82 |
| 31-Mar-21 | 5.31 | 9.06 | – |
| Mar-20 | 6.24 | 11.72 | – |
Manoj Vaibhav Gems IPO Lead Managers
Here is the list of Lead managers –
- Bajaj Capital Limited
- Elara Capital (India) Private Limited
Manoj Vaibhav Gems IPO Registrar to offer
Check out the details of the registrar here –
Bigshare Services Private Limited
Office No S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road,
Andheri (East) Mumbai – 400093, India
Tel: +91 22 6263 8200; Facsimile: +91 22 6263 8280
Email: ipo@bigshareonline.com
Investor grievance email: investor@bigshareonline.com
Contact Person: Mr. Jibu John
Website: www.bigshareonline.com
SEBI Registration Number: INR000001385
Manoj Vaibhav Gems IPO – Other Details
- Statutory Auditor – M/s. Sagar & Associates, Chartered Accountants.
- Legal Counsel to the Company – ALMT Legal
- Bankers to the Company -NA
Manoj Vaibhav Gems IPO – Conclusion
Jewellery is something everyone adores in one way or the other. Some like to embellish themselves with the newest designs, and some see it as a precious investment source.
Manoj Vaibhav Gems is a prominent brand in South India and offers Silver, Gold, and Diamond jewellery under one roof. The patterns and items offered by this entity connect with the cultures followed around the South Indian states.
The Manoj Vaibhav Gems IPO is offering shares to the public in the form of a fresh issue as well as a share sale by existing shareholders. The company has a good reputation and is growing at a lively pace and might turn out as a profitable investment for the investors.
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Manoj Vaibhav Gems IPO Review FAQs
Check out the FAQs on Manoj Vaibhav Gems IPO –
What is the Issue Size of Manoj Vaibhav Gems IPO?
The Company is making an initial public offer of 12,567,442 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Manoj Vaibhav Gems IPO?
The price band for this particular IPO ranges between Rs. 204 to Rs 215. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the Vaibhav Jewellers IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 22, 2023, while the closing date is set at September 26, 2023.
What is the Manoj Vaibhav Gems IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on October 3, 2023, refund initiation is on October 4, 2023, credit of shares is on October 5, 2023, and share listing date is on October 6, 2023.
What is the Vaibhav Jewellers IPO Listing Date?
Shares of this company shall be listed in the exchanges October 6, 2023. The date, when the listing would be done, is stagnant on October 6, 2023.
Who is the Registrar of Manoj Vaibhav Gems IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Vaibhav Jewellers IPO?
Here are the promoters of this IPO – Manoj Vaibhav Gems are Grandhi Bharata Mallika Ratna Kumari, Bharata Mallika Ratna Kumari Grandhi, and Grandhi Sai Keerthana. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Manoj Vaibhav Gems IPO?
They have obtained the GMP of this IPO and it is Rs. NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Vaibhav Jewellers IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Manoj Vaibhav Gems Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide.
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