Manoj Vaibhav Gems 'N' Jewellers Limited | Globe Capital Market LTD.
Manoj Vaibhav Gems ‘N’ Jewellers Limited
Price Band
₹204 to ₹215 per share
IPO Issue Period
Sep 22, 2023 to Sep 26, 2023
Issue Size
₹270.20 Cr
Face value
₹10 per share
Fresh issue
₹210.00 Cr
Offer for sale
₹60.20 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
Oct 6, 2023

Bajaj Capital Limited
Elara Capital (India) Private Limited

Manoj Vaibhav Gems ‘N’ Jewellers IPO is a book built issue of Rs 270.20 crores. The issue is a combination of fresh issue of 0.98 crore shares aggregating to Rs 210.00 crores and offer for sale of 0.28 crore shares aggregating to Rs 60.20 crores.

Manoj Vaibhav Gems ‘N’ Jewellers IPO opens for subscription on September 22, 2023 and closes on September 26, 2023. The allotment for the Manoj Vaibhav Gems ‘N’ Jewellers IPO is expected to be finalized on Tuesday, October 3, 2023. Manoj Vaibhav Gems ‘N’ Jewellers IPO will list on BSE, NSE with tentative listing date fixed as Friday, October 6, 2023.


Manoj Vaibhav Gems ‘N’ Jewellers IPO price band is set at ₹204 to ₹215 per share. The minimum lot size for an application is 69 Shares. The minimum amount of investment required by retail investors is ₹14,835. The minimum lot size investment for sNII is 14 lots (966 shares), amounting to ₹207,690, and for bNII, it is 68 lots (4,692 shares), amounting to ₹1,008,780.

Bajaj Capital Limited and Elara Capital (India) Private Limited are the book running lead managers of the Manoj Vaibhav Gems ‘N’ Jewellers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Manoj Vaibhav Gems ‘N’ Jewellers IPO RHP for detailed information.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 2031.30 1697.60 1443.17
Profit After Tax 71.6 43.8 20.9
EPS 18.32 11.18 5.31
OPM (%) 4.7% 3.4% 1.9%
PATM (%) 3.52% 2.58% 1.45%


  • It is a key leading home-grown regional brand built on hyperlocal retail strategy
  • It has an early mover advantage in the state of Andhra Pradesh
  • It has fortified its 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
  • Its Go To Market strategy is its key business enabler thereby providing wider market reach; deep customer connect and have enabled to build a loyal customer base
  • Its experienced promoter and professional senior management team has enabled in seamless strategy implementation and business operations
  • Its employees and Customers are its real Brand Ambassadors
  • Its ability to define operating parameters and internal control measures that enables to perform as well as grow business across the micro market of Andhra Pradesh and Telangana.
  • To Finance the Establishment of the proposed 8 new showrooms, i.e.
    • Capital expenditure cost for the proposed eight (8) new showrooms,
    • Inventory cost for the proposed eight (8) new showrooms,
  • General corporate purposes.

The company is a south-centric retailer in jewellery segment and has 13 stores as of now. It has planned to add 8 more stores. With target customers from Tier-2 and Tier-3 regions, the company hopes to maintain the tempo of growth. Based on annualized FY24 earnings, the issue appears fully priced.

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