About the company
Established as a proprietorship concern in the year 1994, Manoj Vaibhav Gems ‘N’ Jewellers Limited is a hyperlocal jewelry retail chain with a presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities. They have a market share of ~4% of the overall Andhra Pradesh and Telangana jewelry market and ~10% of the organized market in these two states in FY2023, as per the Technopak Report.
In 2007 they launched V Square, their flagship showroom, which is one of the largest in Visakhapatnam with 29,946 sqft jewelry retail space and is one of India’s largest ISO-certified jewelry showrooms.
They were one of the earlier entrants in the organized jewelry retail market of Andhra Pradesh and continue to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh & Telangana thereby creating a market for branded jewelry in the area of their operations. In FY 2023, the total market size of Andhra Pradesh and Telangana was USD 3.3 Bn and USD 2.8 Bn respectively. While the Andhra Pradesh jewelry market is expected to grow to USD 6.3 Bn by FY 2027 at a CAGR of ~18%, the Telangana market is expected to grow to USD 5.3 Bn during the same period at a CAGR of ~18%.
They plan to capture demand and meet the taste of the population of both states, giving them an exposure to agri-customer base and thus their showrooms are aligned to capture the demand coming in from such customers.
Objects of the issue and proceeds utilization:
The Rs.270.20 crore public offer of Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO comprises a fresh equity issue worth 210 crores and OFS worth 60.20 crores.
| Purpose | Proceeds (₹ crores) |
|---|---|
| To Finance the Establishment of the proposed 8 new showrooms | 129.01 |
| General corporate purposes | Balance |
Financial information and other valuation metrics
| Financial Year | Total Assets (₹ crores) | Total Revenue (₹ crores) | Profit After Tax (₹ crores) | EPS | EBITDA (₹ crores) |
|---|---|---|---|---|---|
| March 31, 2021 | 803.1 | 1443.17 | 20.73 | 5.31 | 69.55 |
| March 31, 2022 | 899.53 | 1697.69 | 43.68 | 11.18 | 104.95 |
| March 31, 2023 | 1077.85 | 2031.3 | 71.59 | 18.32 | 143.05 |
IPO Schedule
| Issue Period | 22nd September to 26th September 2023 |
|---|---|
| Price band | ₹ 204 - 215 |
| Minimum Bid quantity | 69 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | 3rd October 2023 |
| Initiation of Refunds | 4th October 2023 |
| Credit of Shares | 5th October 2023 |
| Date of Listing | 6th October 2023 |
| Mandate end date | 11th October 2023 |
| Anchor Investors Lock-In End Date | 26th October 2023 |
How to apply to the Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO?
You can apply for the Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO?
You can check the allotment status for the Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.