Leading regional jewelry company Manoj Vaibhav Gems N Jewellers Limited is based in South India and is run by first-generation female businesswoman Mrs. Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthana. (Technopak Report, referenced) Manoj Vaibhav Gems N Jewellers IPO will hit the stock market in January 2023.
Table of Contents
About Manoj Vaibhav Gems N Jewellers
They are a chain of hyperlocal jewelry stores with 13 showrooms spread over 8 towns and 2 cities in Andhra Pradesh & Telangana. According to the Technopak Report, they held a market share of 5% of the combined Andhra Pradesh & Telangana jewelry market and 14% of the organized market in these two states in FY2021.
They were one of the early entrants into the organized jewelry retail market in Andhra Pradesh and continue to concentrate on regional expansion into the high growth untapped regions within the micro-markets of Andhra Pradesh & Telangana, thus generating a demand for branded jewelry in the region of their operations. By FY 2025, the Indian Jewelry Market is anticipated to reach a value of USD 92 billion.
Clientle
Through Manoj Vaibhav Gems N Jewellers limited’s specialized branded showrooms, they serve all economic segments of the micro markets in Andhra Pradesh and Telangana.
They also have a strong commitment to the urban market. In order to attract customers, they have positioned themselves as a retailer that focuses on building relationships with them through their products and services.
Through their “Go to Marketing Strategy,” they interact with target audiences at exhibitions to learn about their tastes and preferences. Retail jewelry sales are more prevalent in rural areas, and the inelastic rural demand for gold presents significant development potential.
77% of their retail showrooms serve semi-urban and rural demand from Tier 2 and Tier 3 cities of Andhra Pradesh and Telangana.
Business
Their founder, the late Mr. Manoj Kumar Grandhi, founded them with the intention of bringing organized jewelry retail play to the markets in which they compete. In 1994, they established themselves as a proprietorship company and opened their first retail location in Vishakapatnam.
They opened V Square, their flagship showroom, in 2007. With 29,946 square feet of jewelry retail space, it is one of the largest in Visakhapatnam and one of the largest ISO-certified jewelry showrooms in India.
In order to accommodate the demand and the tastes of the people in both states, they are simultaneously growing their footprint in Andhra Pradesh and Telangana. They have access to an agri-customer base thanks to their presence in the coastal Andhra belt.
Manoj Vaibhav Gems N Jewellers IPO
Manoj Vaibhav Gems N Jewellers Limited, headquartered in Visakhapatnam has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 640 Crore on 02 September 2022.
The offer includes a fresh issue of INR 210 Crore and there is offer for sale (OFS) of INR 430 Crore by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement og INR 40 in this issue.
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- Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 899.53 | 803.10 | 818.62 | ||
| Total Revenue | 1,697.70 | 1,443.18 | 1,284.30 | ||
| Profit After Tax | 43.68 | 20.74 | 24.39 | ||
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2020 | 6.24 | 6.24 | 3 |
| Financial Year 2021 | 5.31 | 5.31 | 2 |
| Financial Year 2022 | 11.18 | 11.18 | 1 |
| Weighted Average | 8.40 | 8.40 | |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
- They are a major, locally-owned regional brand that was developed via a hyperlocal retail strategy.
- They have gradually moved toward capturing and developing our brand in Tier II and Tier III cities after first strengthening their business by serving to customers in both rural & urban locations.
- They provide consumers with a wide choice of product designs at a variety of price points thanks to their operating ethos of “Relationships, by Design.”
- Their Go To Market approach is their primary business enabler, giving them a greater market reach, strong client connections, & the ability to develop a following of devoted customers.
- They have been able to conduct business operations & implement strategy with ease thanks to their knowledgeable promoter and senior management team.
Manoj Vaibhav Gems N Jewellers Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Titan Company Ltd | 35.31 |
| 2 | 1 | Thangamayil Jewellery | 26.95 |
| 3 | 2 | Kalyan Jewellers India Ltd | 35.90 |
| 4 | 1 | Tribhovandas Bhimji Zaveri Limited | 56.44 |
- All financial data for listed industry peers is on a standalone/consolidated basis and comes from the audited consolidated/standalone financial statements of the respective firms for the year ending March 31, 2021, which can be found on the Stock Exchanges’ websites.
- The P/E ratio is calculated by dividing the closing market price of equity shares on the NSE on August 10, 2022 by the diluted EPS derived from the peer group company’s annual report for the year ended March 31, 2021.
Manoj Vaibhav Gems N Jewellers IPO Details
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Issue Type | Book Building |
| Face Value | 10 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 640 Crore |
| Fresh Issue | 210 Crore |
| Offer for Sale | 430 Crore |
Manoj Vaibhav Gems N Jewellers IPO Date
Manoj Vaibhav Gems N Jewellers Limited IPO opening date is January 2023, and the closing date is January 2023. The Manoj Vaibhav Gems N Jewellers issue may list in January 2023.
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Basis of Allotment Date | January 2023 |
| Initiation of Refunds | January 2023 |
| Credit of Shares to Demat Account | January 2023 |
| IPO Listing Date | January 2023 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 50 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 35 | Minimum 1 lot based on availability |
Vaibhav Jewellers IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Manoj Vaibhav Gems N Jewellers IPO.
Manoj Vaibhav Gems N Jewellers IPO GMP
Manoj Vaibhav Gems N Jewellers Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Check Out the GMP of all Other IPOs
Manoj Vaibhav Gems N Jewellers Limited IPO Review
Manoj Vaibhav Gems N Jewellers Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Manoj Vaibhav Gems N Jewellers IPO is good or bad.
Manoj Vaibhav Gems N Jewellers Limited IPO Risk
- Its company’s success depends on the selling of their goods to a select group of important clients, especially those in controlled areas like Europe and the US.
- Their business, financial situation, and prospects would suffer if they are unable to commercialize new items in a timely manner.
- Their business & cash flows may all suffer if they are unable to successfully increase their production capacity.
- Their business, operating results, financial situation, and cash flows can all suffer if their manufacturing processes slow down or stop entirely.
- They submitted some corporate records, documents, and other documents to the Registrar of Companies that are not traceable.
- They have not filed our audited consolidated financial statements for Financial Year 2020 in a timely manner.
Other Threats
- Their business may suffer if the supply or transportation of raw materials is delayed, interrupted, reduced, or priced beyond of reach for them to use in the production of their goods.
- Their inability to manage stocks and forecast demand for their items with accuracy could hurt their business, operations, financial status, and cash flows.
- Foreign exchange risks they confront could have a negative impact on their business, cash flows and operational outcomes.
- They demand a sizable amount of working capital. They risk damaging their business if they don’t generate enough cash to cover their needs for working capital.
- Any pandemic or broad public health disaster, including COVID-19, could have a negative effect on their operations, financial status, and cash flows.
Manoj Vaibhav Gems N Jewellers Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Manoj Vaibhav Gems N Jewellers IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Manoj Vaibhav Gems N Jewellers Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| January 2023 | 1 | |||||
| January 2023 | 2 | |||||
| January 2023 | 3 |
Manoj Vaibhav Gems N Jewellers Limited Management
They are run by a management group with a wealth of expertise in the jewelry sector. Their founder, the late Mr. Manoj Kumar Grandhi, launched their retail jewelry operation in Vishakapatnam in 1994.
They have a network of 13 retail showrooms in Andhra Pradesh and Telangana (including 2 franchisee retail showrooms). They are currently headed by Grandhi Sai Keerthana, a first-generation female business owner, and Mrs. Bharata Mallika Ratna Kumari Grandhi.
The many sections of their organization are led by a team of seasoned specialists. The CEO reports to the Managing Director, who in turn reports to the Board, in a clearly defined, organized organizational structure. They consider that both individual and group strengths exist.
Manoj Vaibhav Gems N Jewellers Limited‘ Promoters
- Grandhi Bharata Mallika Ratna Kumari
- Bharata Mallika Ratna Kumari Grandhi
- Grandhi Sai Keerthana
Principal Shareholder’s Holding
| Pre Issue Share Holding | 88.90% |
| Post Issue Share Holding |
Manoj Vaibhav Gems N Jewellers Limited Prospectus
Contact Details
Manoj Vaibhav Gems N Jewellers Limited
47-15-8, V Square, Zone-A, Opp:
TSR Complex, Station Road,
Dwarakanagar, Visakhapatnam –
530016, Andhra Pradesh, India
Tel: + (91) 89 1663 7777
E-mail: [email protected]
Website: www.vaibhavjewellers.com
Registrar
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: [email protected]
Investor grievance email: [email protected]
Contact Person: Mr. Jibu John
Website: www.bigshareonline.com
Lead Manager(s)
- Bajaj Capital Limited
- Elara Capital (India) Private Limited
We hope we are able to answer all your questions about Manoj Vaibhav Gems N Jewellers IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
Profit must do not engage in grey market trading or facilitate the purchase or sale of IPO forms. We don’t endorse such activities at all. We are sticky against such activities & never advise anyone to trade in grey market at all.
FAQ
Manoj Vaibhav Gems N Jewellers Limited IPO Opening Date?
Manoj Vaibhav Gems N Jewellers Limited IPO will open in January 2023.
Manoj Vaibhav Gems N Jewellers Limited IPO Listing Date?
Manoj Vaibhav Gems N Jewellers Limited IPO will list in January 2023.
Manoj Vaibhav Gems N Jewellers IPO GMP Today?
Manoj Vaibhav Gems N Jewellers IPO Grey Market Premium is INR 0 .
Manoj Vaibhav Gems N Jewellers Limited IPO Allotment Date?
Manoj Vaibhav Gems N Jewellers Limited IPO basis of allotment will be in January 2023.
Lot size for Manoj Vaibhav Gems N Jewellers Limited IPO?
Lot size for Manoj Vaibhav Gems N Jewellers Limited IPO is 0.
