Manoj Vaibhav Gems 'N' Jewellers IPO
Manoj Vaibhav Gems 'N' Jewellers IPO — date, price band, lot size & details 2023
Manoj Vaibhav Gems 'N' Jewellers listed on 3 Oct 2023 at ₹215, flat to the ₹215 issue price.
Manoj Vaibhav Gems 'N' Jewellers, known as Vaibhav Jewellers, is a regional jewellery retailer in Andhra Pradesh and Telangana selling gold, silver and diamond jewellery. Its total income was Rs 2,031.30 crore in FY2023.
Stock price
Manoj Vaibhav Gems 'N' Jewellers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 Sep 2023
- Close 26 Sep 2023
- Allotment 27 Sep 2023
- Refund/credit 29 Sep 2023
- Listing 03 Oct 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 26 Sep, 2023 |
|---|---|
| Price Band | ₹204 – ₹215 |
| Face Value | ₹10 |
| Lot Size | 69 Shares |
| Issue Size | ₹270.2 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,835 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 69 shares at the ₹215 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 69 | ₹14,835 |
| Retail (max) | 13 | 897 | ₹1,92,855 |
| S-HNI (min) | 14 | 966 | ₹2,07,690 |
| S-HNI (max) | 67 | 4,623 | ₹9,93,945 |
| B-HNI (min) | 68 | 4,692 | ₹10,08,780 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,443.18 crore in FY2021 to Rs 2,031.30 crore in FY2023.
- 02Profit after tax rose from Rs 20.74 crore in FY2021 to Rs 71.60 crore in FY2023.
- 03The pre-issue P/E was 11.74 at the upper band of Rs 215, based on EPS of Rs 18.32.
- 04Rs 210.00 crore of the issue was fresh capital to open 8 new showrooms.
- 05Net worth grew from Rs 228.99 crore on 31 March 2021 to Rs 363.65 crore on 30 June 2023.
Risks · 5
- 01Total borrowing was Rs 460.39 crore on 30 June 2023, more than net worth, and the source puts debt to equity at 1.34.
- 02Jewellery retail margins are thin, and the source puts the PAT margin at 3.53%.
- 03All 13 showrooms are in two states, so the business is regionally concentrated.
- 04Gold prices drive sales and stock values, and Rs 160.02 crore of the fresh money goes into inventory.
- 05Promoters and the promoter group held 100% before the issue and 74.27% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Manoj Vaibhav Gems 'N' Jewellers offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,082.82 | 1,077.86 | 899.53 | 803.10 |
| Total Income | 510.21 | 2,031.30 | 1,697.70 | 1,443.18 |
| Profit After Tax | 19.24 | 71.60 | 43.68 | 20.74 |
| NET Worth | 363.65 | 344.55 | 272.86 | 228.99 |
| Reserves and Surplus | 324.57 | 305.47 | 263.09 | 219.22 |
| Total Borrowing | 460.39 | 460.00 | 477.73 | 463.43 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Manoj Vaibhav Gems 'N' Jewellers RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Manoj Vaibhav Gems 'N' Jewellers IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹18.32 | ₹15.76 |
| P/E Ratio (x) | 11.74 | 13.64 |
| Market Cap at Offer Price (₹ Cr) | ₹225.80 | ₹262.47 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹215 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹189.34 Cr of the issue is earmarked to named objects.
About the company
It sells gold, silver and diamond jewellery, precious gemstones and other jewellery through its showrooms and website. It serves all income segments, with a focus on both rural and urban markets, and positions itself on design, quality, transparency and service.
As of the RHP date it had 13 showrooms, including 2 franchisee showrooms, across towns and cities in Andhra Pradesh and Telangana.
The IPO was Rs 270.2 crore, with Rs 210.00 crore of fresh issue and Rs 60.20 crore of offer for sale by the promoter HUF. Fresh money was planned for 8 new showrooms, including Rs 160.02 crore for their inventory.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Manoj Vaibhav Gems 'N' Jewellers IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Elara Capital (India) Pvt. Ltd
3 issues handledBest listing: Orient Technologies (+39.8%). Weakest: Shreeji Shipping Global (+7.1%).
Bajaj Capital Ltd
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +34.1%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Manoj Vaibhav Gems 'N' Jewellers?
The current Grey Market Premium is ₹12, or 6% over the issue price.
What is the Manoj Vaibhav Gems 'N' Jewellers IPO price band?
₹204 to ₹215, on a face value of ₹10.
When is the allotment?
The basis of allotment is 27 September 2023, with listing on 3 October 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
