Vaibhav Jewellers IPO: The mainboard initial public offering (IPO) of Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers will be opening for subscription on Friday, September 22. Also known as Vaibhav Jewellers, the firm is a regional jewelry brand in South India. The company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms and its website.
The hyperlocal jewellery retail chain with presence in Andhra Pradesh and Telangana has 13 showrooms including two franchisee showrooms, across eight towns and two cities. It is a 100 per cent promoters-owned company.
The jewellery brand is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh & Telangana, creating a market for branded jewellery in the area of operations. In 2007, it launched its flagship showroom in Visakhapatnam is spread across 29,946 square ft and four different floors of shopping experience.
The first generation woman entrepreneur Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthan-led jewellery brand recorded healthy earnings growth in past years with profit growing at a compound annual growth rate (CAGR) of 85.81 per cent during FY21-FY23 to ₹71.6 crore in the financial year ended 2022-23, and the revenue from operations increasing at a CAGR of 18.92 per cent during the same period to ₹2,027.34 crore.
Here are the 10 key things to know about Vaibhav Jewellers IPO:
Vaibhav Jewellers IPO date: Vaibhav Jewellers IPO opens for subscription on Friday, September 22, and will close on Tuesday, September 26.
Vaibhav Jewellers IPO price band: Vaibhav Jewellers price band has been fixed in the range between ₹204 – ₹215 per equity share at a face value of ₹10 each for the public issue.
Vaibhav Jewellers IPO Lot Size: Investors can bid for a minimum of 69 equity shares and in multiples of 69 shares thereafter.
Anchor Investors: The allocation to anchor investors for Vaibhav Jewellers IPO is scheduled to take place on today (Thursday, September 21).
Vaibhav Jewellers IPO Details: Vaibhav Jewellers IPO is a book-built issue. The offer comprises a fresh issuance of shares worth ₹210 crore, and an offer-for-sale of 28 lakh shares worth ₹60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).
Vaibhav Jewellers IPO objectives: The company plans to utilise the fresh issue proceeds to finance the establishment of the proposed eight new showrooms, i.e., capital expenditure cost for the proposed showrooms, inventory cost of the showrooms and for general corporate purposes.
Vaibhav Jewellers IPO allotment date and Vaibhav Jewellers listing date: Vaibhav Jewellers IPO basis of allotment of shares will be finalised on Tuesday, October 3 and the company will initiate refunds on Wednesday, October 4, while the shares will be credited to the demat account of allottees on Thursday, October 5. Vaibhav Jewellers shares are likely to be listed on BSE and NSE on Friday, October 6.
Lead Manager and Registrar of Vaibhav Jewellers IPO: Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers and Bigshare Services Private Limited is the Registrar to the offer.
Vaibhav Jewellers IPO reservation: The Andhra Pradesh-based jewellery firm has reserved half of the offer size for the qualified institutional buyers (QIBs), 15 per cent for high net-worth individuals (non-institutional investors), and the remaining 35 per cent for retail investors.
Vaibhav Jewellers IPO GMP today: The grey market premium (GMP) for Vaibhav Gems IPO has not started yet. Based on last nine sessions grey market activities, no major movement is observed, according to topsharebrokers.com. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.