The company Manoj Vaibhav Gems āNā Jewellers Limited is coming up with an IPO of INR 270.20 crores. The offer consists of an offer for sale of INR 60.20 crores and fresh issue of equity shares worth INR 210 crores. The company intends to utilise the raised funds towards establishment of new showrooms.
Manoj Vaibhav Gems IPO – Important Details
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Date | September 22, 2023 to September 26, 2023 |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Listing Date | October 3, 2023 |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Price | ā¹204 to ā¹215 per share |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Lot Size | 69 Shares |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Total Issue Size | INR 270.20 crores |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Basis of Allotment | September 27, 2023 |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Initiation of Refunds | September 29, 2023 |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Credit of Shares to Demat | September 29, 2023 |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Issue Type | Book Built Issue IPO |
| Manoj Vaibhav Gems āNā Jewellers Limited IPO Listing At | BSE, NSE |
Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO – Company Profile
Vaibhav Jewellers, are 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. The company 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.
77% of the retail showrooms are in Tier 2 and Tier 3 cities catering to the semi urban and rural demand of Andhra Pradesh and Telangana. The remaining 15% of the retail showrooms are located in Mini Metro city of Hyderabad and 8% of the showrooms are located in Tier 1 city of Visakhapatnam catering to the urban consumers.
The company has received many awards, accreditations or recognition. Few of them are listed below:
- India ās Retail Champion’s Awards, 2023 in the āJewellery Categoryā by Retailers Association of India (RAI)
- Retail Ratna Award (Life Style Category) by The Hans India in the year 2019
- Best Star Retailer by Multimedia Publishers Jewel Trends Mumbai in the year 2016
Manoj Vaibhav Gems N Jewellers Ltd IPO Objective
Manoj Vaibhav Gems N Jewellers Ltd’s IPO intends to allocate INR 172.01 crores for eight new showrooms and the remainder for general corporate purposes, including working capital, IT enhancements, and business expansion.
- Capital expenditure cost for the proposed eight new showrooms: The company plans to fund the capital and inventory cost of new eight showrooms. The proposed utilisation for the said purpose is INR 172.01 crores.
- General corporate purpose: The company plans to deploy the balance funds towards general corporate purpose which is not limited to meeting expenses incurred in ordinary course of business such as strategic initiatives including meeting working capital requirement, advancement of information technology, meeting future branch and business expansion,etc.
Manoj Vaibhav Gems IPO Risks And Challenges
Manoj Vaibhav Gems IPO bears legal risks with Promoters and Directors, competitive threats, and heavy reliance on the Visakhapatnam branch, contributing 62% of revenue, posing financial stability concerns.
- The company, Promoters and Directors are involved in certain legal proceedings and potential litigation and the company has not made any provision in the financial statements for such liabilities. Any adverse decision in such proceedings may render them liable to liabilities/penalties and may adversely affect the business and results of operations.
- The company operates in a competitive market and faces competition from other jewellery retailers. Any increase in competition may adversely affect our business and financial condition.
- Visakhapatnam (V-Sauare) branch alone contributes 62% of the revenue of the company. Ifthis branch fails or does not bring business then the financial position of the business will be affected.
Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO Peer Comparison
| Company | Total Revenue(ā¹ in million) | Profit after tax | RoCE (%) |
| Gems ‘N’ Jewellers Ltd(Standalone) | 20,273.44 | 715.96 | 23.19% |
| Titan Company Ltd(Consolidated) | 4,05,750.00 | 32,740.00 | 30.95% |
| Thangamayil Jewellery Ltd(Standalone) | 31,525.50 | 797.40 | 22.37% |
| Kalyan Jewellers India Ltd(Consolidated) | 1,40,714.47 | 4,319.32 | 12.76% |
| Tribhovandas Bhimji Zaveri Limited(Consolidated) | 23,936.26 | 401.90 | 7.39% |
Manoj Vaibhav Gems IPO Financial Information
Manoj Vaibhav Gems ‘N’ Jewellers Ltd demonstrates favorable profitability with a RoCE of 23.19%. While its standalone revenue is lower, efficient capital utilization suggests investment potential. Careful assessment of IPO terms is advised. Consult with financial experts for informed decisions.
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31 March 2023 |
| Revenue (ā¹ in Million) | 14,335.69 | 16,939.19 | 20,273.44 |
| Equity (ā¹ in Million) | 2,289.86 | 2,728.59 | 3,445.50 |
| Expenses (ā¹ in Million) | 14,041.17 | 16,392.87 | 19,354.69 |
| Profit and Loss After Tax (ā¹ in Million) | 207.37 | 436.79 | 715.96 |
| RoNW (%) | 9.06% | 16.01% | 20.78% |
| Diluted EPS only (ā¹) | 5.31 | 11.18 | 18.32 |
| NAV per Equity Share (ā¹) | 58.59 | 69.82 | 88.17 |
| Total Assets (in million) | 8,030.99 | 8,995.33 | 10,778.57 |
| Total Liabilities (in million) | 5,741.13 | 6,266.74 | 7,333.07 |
Manoj Vaibhav Gems IPO – Fundamental Analysis
Revenue Growth:
Manoj Vaibhav Gems has displayed consistent revenue growth, increasing from ā¹14,335.69 million in 2021 to ā¹20,273.44 million in 2023, demonstrating positive momentum.
Profitability:
The company has significantly improved profitability, with a profit of ā¹715.96 million in 2023, up from ā¹207.37 million in 2021, reflecting enhanced operational efficiency.
Return on Net Worth (RoNW):
The RoNW has shown consistent growth, rising from 9.06% in 2021 to a strong 20.78% in 2023, indicating improved utilization of net worth.
Earnings Per Share (EPS):
The diluted EPS has experienced substantial growth, reaching ā¹18.32 in 2023, signifying improved earnings per share.
Asset and Liability Management:
Total assets have increased over the years, reflecting growth and a balanced financial structure. Total liabilities have also shown a steady increase.
Summary:
Manoj Vaibhav Gems’ IPO demonstrates positive revenue growth, significantly improved profitability, and strong RoNW. These financial indicators suggest a well-managed company. However, prospective investors should conduct a thorough analysis of the IPO and consider market conditions before making investment decisions.
Manoj Vaibhav Gems IPO – Industry & Market Potential
The global gold market is estimated at 4742 tons valued in CY 2022 at close to USD 305.9 billion at average value of LBMA gold price of $1800.0 per ounce. Demand for gold gets its highest contribution from jewellery retail with 45% of share to overall gold demand. Investment demand in terms of gold coins and bars and ETFs contributed close to 23% of demand with the rest coming from the central bank and electronics and other technology led sectors. However, COVID has led to a change in distribution of shares across different segments.
Gold has a special place in Indian culture. It is used for traditional purposes like marriage, religious rituals, and gifting. In India, gold jewellery has an aspirational value. It serves a dual purpose of ornamentation and investment.
The Indian jewellery reta il sectorās size in FY 2023 was close to USD 70 billion. The sectorās organized retail share stood at approximately 32%, composed of national and regional players, while the rest of jewellery retail continues to be dominated by the unorganized segment, comprising over 500,000 local goldsmiths and jewellers. The jewellery retail market is expected to grow to approximately USD 124 billion by FY 2027.
Manoj Vaibhav Gems ‘N’ Jewellers IPO – Type of Offer
Manoj Vaibhav Gems ‘N’ Jewellers IPO combines fresh issue (INR 210 Cr) for showrooms and offer for sale (INR 60.20 Cr).
ā Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 210 Crore. This fund will be utilised towards establishment of 8 new showrooms..
ā Offer For Sale (OFS): Existing shareholders, including promoters and early investors, will sell a portion of their stake in the company worth INR 60.20 crores.
Manoj Vaibhav Gems ‘N’ Jewellers IPO Offer Size
The company Manoj Vaibhav Gems āNā Jewellers Limited is coming up with an IPO of INR 270.20 crores. The offer consists of an offer for sale of INR 60.20 crores and fresh issue of equity shares worth INR 210 crores. The company intends to utilise the raised funds towards establishment of new showrooms.
Manoj Vaibhav Gems ‘N’ Jewellers IPO Allotment Structure
Manoj Vaibhav Gems ‘N’ Jewellers IPO allocation structure designates 50% for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 35% for Retail Individual Investors, following SEBI guidelines.
ā Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
ā Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs. 2 lakhs.
ā Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
How to apply for a Manoj Vaibhav Gems IPO?
To apply for the Manoj Vaibhav Gems āNā Jewellers Limited IPO through Alice Blue, you would typically follow these steps:
1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
2. Check for IPO Details: Once your account is active, you can check for the Manoj Vaibhav Gems āNā Jewellers Limited IPO details in the IPO section of the Alice Blue platform.
3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
4. Submit the Application: Confirm all your details and submit your application.
You can apply for Manoj Vaibhav Gems āNā Jewellers Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: Post the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Manoj Vaibhav Gems āNā Jewellers Limited IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Manoj Vaibhav Gems āNā Jewellers Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Manoj Vaibhav Gems āNā Jewellers Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Manoj Vaibhav Gems āNā Jewellers Limited IPO:
Ā· Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Manoj Vaibhav Gems āNā Jewellers Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
Ā· NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Manoj Vaibhav Gems IPO Offer Registrar
The registrar for the Manoj Vaibhav Gems is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar
Bigshare Services Private Limited
Telephone- +91 22 62638200
Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO FAQs
What is the allotment date of the Manoj Vaibhav Gems āNā Jewellers Limited Limited IPO?
The allotment date is September 22, 2023 to September 26, 2023.
What is the price band of the Manoj Vaibhav Gems āNā Jewellers Limited Limited IPO?
The price band is INR 204-215 per share.
What is the size of the Manoj Vaibhav Gems āNā Jewellers Limited Limited IPO?
The company Manoj Vaibhav Gems āNā Jewellers Limited is coming up with an IPO of INR 270.20 crores. The offer consists of an offer for sale of INR 60.20 crores and fresh issue of equity shares worth INR 210 crores.
What is the listing date of the Manoj Vaibhav Gems āNā Jewellers Limited Limited IPO?
The listing date is October 3 2023
