Manoj Vaibhav Gems N Jewellers, based in Andhra Pradesh, is set to kick off its initial public offering (IPO) on Friday, September 22. The company has established a price band of ₹204 – ₹215 per equity share, with a face value of ₹10 each for the public issue.
The IPO consists of a fresh issuance of equity shares valued at up to ₹210 crore and an offer for sale (OFS) of up to 2.8 million equity shares. Investors can bid for a minimum of 69 equity shares and in multiples of 69 equity shares thereafter. Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers, while Bigshare Services Private Limited is the Registrar to the offer.
Vaibhav Jewellers IPO is a book-built issue, and the subscription period will conclude on Tuesday, September 26. Following the IPO, the shares are scheduled to be listed on stock exchanges BSE and NSE on October 6.
Vaibhav Jewellers is a prominent regional jewellery brand in South India, with a presence in the micro markets of Andhra Pradesh and Telangana, encompassing 13 showrooms across eight towns and two cities. The company currently holds a market share of approximately 10% of the organized market in these two states in the current fiscal year.
The jewellery brand was among the early entrants in the organized jewellery retail market of Andhra Pradesh and is committed to regional expansion into high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana, cultivating a market for branded jewellery in its operational area. In 2007, it launched its flagship showroom in Visakhapatnam, which spans 29,946 square ft and offers four distinct floors of shopping experiences.
Approximately 77% of its retail showrooms are situated in tier 2 and tier 3 cities, with the remainder located in Hyderabad and Vishakhapatnam. These showrooms feature an extensive inventory of designs across a wide range of products, including gold, diamond, gems, platinum, and silver jewellery or articles. The company’s sub-brand, Visesha, caters to a premium segment of gold and diamond jewellery.
