October 3, 2023
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Manoj Vaibhav Gems IPO GMP, Details to watch, Guidance & Subscription status @ Chanakyanipothi.com, India`s Oldest Investment & IPO website.
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Manoj Vaibhav Gems IPO Guidance:
1. Though the jewellery market isshowing fast growth, the competition is really tough among organised jewellery companies particularly from the companies with Pan India presence.
2. At present large number of companies have entered the market to snatch investible funds. So huge oversubscription is difficult.
Not so Attractive
Listing Review: The scrip listed at Rs. 215, as against issue price of Rs. 215, providing no return over the issue price.
Manoj Vaibhav Gems IPO Market undercurrent
Premium: Rs.13
Kostak Rs. 700
Subject to buyer price Rs. 9800
Manoj Vaibhav Gems IPO Subscription Status
On 26 September 2023 @ 5.00 (Day 3)
Review: flow of applications improve today.
QIB: 2573605 Shares 1.06 T
NII(10L+): 1309412 Shares 6.09 T
NII (<10L) 654706 Shares 3.35 T
NII (Total) 1964118 Shares 5.18 T
RII: 4582941 Shares 1.66 T
Total: 9120664 Shares 2.25 T
Manoj Vaibhav Gems IPO Promoters
GRANDHI BHARATA MALLIKA RATNA KUMARI (HUF), BHARATA MALLIKA RATNA KUMARI GRANDHI AND GRANDHI SAI KEERTHANA
Manoj Vaibhav Gems Company Details
Vaibhav Jewellers is a leading regional jewellery brand in South India led by a first-generation woman entrepreneur Mrs. Bharata Mallika Ratna Kumari Grandhi along with her daughter Grandhi Sai Keerthana. It is a hyperlocal jewellery retail chain with presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities. We have a market share of ~5% of the overall Andhra Pradesh and Telangana jewellery market and ~14% of the organised market in these two states in FY2021, as per the Technopak Report. It was one of the earlier entrants in the organised jewellery 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 jewellery in the area of its operations.
The Indian Jewellery Market is expected to reach a value of USD 92 Bn by FY 2025, growing at a CAGR of 15% over the next 3 years on account of the growing economy and rising disposable income, increasing consumer demand for gold, growth in gold prices and rising demand for other categories like diamonds, other precious stones and costume jewellery. In FY 2021, the total market size of Andhra Pradesh and Telangana was USD 2.0 Bn and USD 1.7 Bn respectively. While the Andhra Pradesh jewellery market is expected to grow to USD 4.6 Bn by FY 2025 at a CAGR of ~23%, the Telangana market is expected to grow to USD 3.9 Bn during the same period at a CAGR of ~23%.
It has e designed and developed a website: www.vaibhavjewellers.com, for its online sales in addition to other online market places
For more information, click www.vaibhavjewellers.com
Objects of the IPO
The Net Proceeds from the Fresh Issue are proposed to be utilized towards:
To Finance Establishment of proposed 8 new showrooms, i.e.
(a) Capital expenditure cost for the proposed eight (8) new showrooms,
(b) Inventory cost for the proposed eight (8) new showrooms
| Balaji Speciality IPO Details | |
| IPO opens on | 22 September 2023 |
| IPO closes on | 26 September 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 12567,442 Sh /Rs 270.20 Cr |
| * Fresh Issue | 9767442 Sh/ Rs.210 Cr |
| * Offer for Sale | 2800000 Sh /Rs 60.20 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 204-215 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 69 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. in Cr |
| QIB (50 %) | 6283721 | 135.10 |
| NII (15 %) | 1885116 | 40.53 |
| RII (35 %) | 4398605 | 94.57 |
| Employees | – | – |
| Total Shares | 12567442 | 270.20 |
| Retail portion will be oversubscribed by | 63748 Forms | |
| How much Shares to Apply? | Rs. | |
| Min Retail Application | 69 Sh | 14,835 |
| Max Retail Application | 897 Sh | 192,855 |
| Small HNI (Min) application | 966 Sh | 207,690 |
| Small HNI (Max) application | 4623 Sh | 993,945 |
| Big HNI Application | 4692 Sh | 1008,780 |
| Manoj Vaibhav Gems IPO Tentative timetable | |
| IPO opens on | 22 September 2023 |
| IPO Closes on | 26 September 2023 |
| IPO Allotment on | 27 October 2023 |
| Unblocking of ASBA | 27 October 2023 |
| Credit of Shares | 3 October 2023 |
| Listing on | 3 October 2023 |
| Registered Office of Manoj Vaibhav Gems | |
| 47-15-8, V Square, Zone-A, Opp: TSR Complex, Station Road, Dwarakanagar, Visakhapatnam – 530016, Andhra Pradesh | |
| Manoj Vaibhav Gems IPO Lead Managers | |
| Bajaj Capital, Elara Capital (India) | |
| Registrar to Manoj Vaibhav Gems IPO | |
| BigShare Services Pvt. Ltd |
| Manoj Vaibhav Gems IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 1443 | 20.74 | 5.31 | 9.06 |
| 2021-22 | 1698 | 43.68 | 11.18 | 16.01 |
| 2022-23 | 2031 | 71.60 | 18.32 | 20.78 |
| Book Value of the Share | on 31.03.23 | Rs.88.17 | ||
| Book Value of the Share | after the IPO | Rs. | ||
| Offer Price | Rs. 215 | |||
| Ratio Analysis | |
| Price Band/last EPS | 11.74 |
| Upper offer price/Book Value Ratio | 2.44 |
| Upper offer price/BV after IPO Ratio | – |
Manoj Vaibhav Gems IPO Peer Comparison
| As on date of DRHP | Total | PE | RoNW |
| Income | Ratio of | ||
| Rs. In Cr | % | ||
| The IPO Company | 2031 | 11.74 | |
| Titan Company | 40883 | 89.62 | – |
| Thangamayil Jewellery | 3156 | 28.44 | – |
| Kalyan Jewellers | 14109 | 55.63 | – |
| Tribhovandas Bhimji Zaveri | 2399 | 15.67 | – |
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