Manoj Vaibhav Gems 'N' Jewellers Limited

About the company

## **About Manoj Vaibhav Gems 'N' Jewellers Limited IPO** Incorporated in 1989, Manoj Vaibhav Gems ‘N’ Jewellers Limited is a hyperlocal jewellery retail chain in South India with presence in the micro markets of Andhra Pradesh & Telangana. As of FY23, it enjoys a market share of ~4% of the overall Andhra Pradesh and Telangana jewellery market and ~10% of the organised market in these two states. The company operates 13 showrooms across 8 towns and 2 cities with 77% of its retail showrooms are in Tier 2 and Tier 3 cities, catering to the semi urban and rural demand of Andhra Pradesh and Telangana. Company follows hub & spoke model wherein small sized showrooms operating peripheral to the larger showrooms. This way company can offer new products on a continues basis to its customers and capture market share. Its range of products includes Gold, Diamond, Gems, Platinum and Silver Jewellery. Its marketing strategies comprise focused group discussions for educating customers; exhibitions to showcase new collections; door-to-door activities for direct selling as well as maintaining a marriage database which helps them invite couples and families to purchase jewellery for the occasion. Between FY21 and FY23, the company has seen a CAGR rise of 12% in its revenue from operations and 51% in its profit along with an EBITDA margin of 7% in FY23. Moreover, the Andhra Pradesh and Telangana jewellery markets are expected to grow at a CAGR of ~18% by FY27 which could be beneficial for the company. And now, Manoj Vaibhav Gems ‘N’ Jewellers Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised through the fresh issue will be utilised for the capital expenditure and inventory cost of the 8 proposed showrooms and general corporate purposes. Its shares will be listed on the NSE and the BSE. Here are key details about the Manoj Vaibhav Gems 'N' Jewellers IPO: Company Name| **Manoj Vaibhav Gems 'N' Jewellers Limited**|  | Company Type| **Private** ---|---|---|---|--- Company Established On|**1989**| ### **Financial snapshot** Particulars| FY 21| FY 22| FY 23 ---|---|---|--- Revenue|₹ 1,433 crore|₹ 1,693 crore|₹ 2,027 crore Net Profit/Loss|₹ 20.7 crore|₹43.6  crore|₹ 71.5 crore ---| ## **A quick look at Manoj Vaibhav Gems 'N' Jewellers Limited** **** **IPO’s strengths, risks and threats** ### **Strengths** **** 1. Leading home-grown regional brand with a presence of over 28 years working with many of its suppliers and job workers for more than 15 years.  1. Average revenue per retail showroom increased from ₹119 crore to ₹155 crore, a CAGR growth of over 9% between FY21 to FY23. 1. Early mover advantage in the state of Andhra Pradesh because it started its business as a proprietorship concern in 1994.  1. Positioned to benefit as rural markets contribute to 58% of the jewellery demand in India, even after rise in gold prices or during post harvest seasons.  1. Offers diverse product designs at various price ranges to customers. ### **Risks and threats** 1. Significant working capital requirements and need for financing making up ₹361 crore of working capital loans and ₹332 crore of outstanding capital loans as of 15 August 2023.  1. Concentrated in the state of Andhra Pradesh and Telangana which exposes it to socio-economic or geo-political risks.  1. Operates in a competitive market and faces competition from other jewellery retailers.  1. Experienced negative cash flow from operating activities in FY21 and from financing activities in FY22 and FY23. ## **Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO details** ### **** **Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO date** According to the offer document filed by the company with the SEBI, the Manoj Vaibhav Gems 'N' Jewellers IPO’s opening date – in other words, the Manoj Vaibhav Gems 'N' Jewellers IPO launch date – will be 22nd September 2023. The Manoj Vaibhav Gems 'N' Jewellers IPO closing date is 26th September 2023. After this, investors will be updated about the allotment status on 3rd October 2023. Investors, who have been allotted shares, can expect them to be credited to their demat account on 5th October 2023. The Manoj Vaibhav Gems 'N' Jewellers IPO listing date is 6th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. ### **** **Manoj Vaibhav Gems 'N' Jewellers Limited IPO price band** The IPO is an offer for sale as well as a fresh issue. The Manoj Vaibhav Gems 'N' Jewellers IPO price band has been set between ₹204 and ₹215 per share. Interested investors can choose a price within this band to apply for the IPO. The Manoj Vaibhav Gems 'N' Jewellers IPO listing price will be determined on 6th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges. ### **** **Manoj Vaibhav Gems 'N' Jewellers Limitedd IPO lot size** The Manoj Vaibhav Gems 'N' Jewellers IPO details have been declared. The Manoj Vaibhav Gems 'N' Jewellers IPO lot size is set at 69 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Manoj Vaibhav Gems 'N' Jewellers IPO issue size is approx ₹270 crore. ## **How to pre** **-apply for the Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO?** You can pre-apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover tab, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, look for the ‘ Manoj Vaibhav Gems 'N' Jewellers Limited IPO’ tab and click on it 1. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 1. Confirm and click on ‘Pre-Apply’ 1. Accept the mandate on your UPI app ## **How to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO?** If you are interested in this investment opportunity but unsure how to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO, here we are listing out the steps for you. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover tab, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, look for the ‘ Manoj Vaibhav Gems 'N' Jewellers Limited IPO’ tab and click on it 1. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 1. Confirm and click on ‘Apply’ 1. Accept the mandate on your UPI app ## **How to check the Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO** **allotment status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. Here’s a step-by-step guide on how to check the Manoj Vaibhav Gems 'N' Jewellers Limited IPO allotment status: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover page, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, you will find the ‘View all’ option 1. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab 1. In the ‘IPO’ tab, click on ‘My applications’  1. In ‘My applications’, under the History section, your Manoj Vaibhav Gems 'N' Jewellers Limited IPO allotment status will be mentioned ## **Open a demat account with Upstox to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited** **IPO** To apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app. Here is a step-by-step guide on how to open a demat account with Upstox: 1. Click [ **here**](https://upstox.com/open-demat-account/\OpenOpen?landing_page=learning-center/demat-account/demat-account-opening-procedure) to visit the demat account opening page on the Upstox website.  1. Enter your phone number and other essential details to begin opening a demat account. 1. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  1. Complete the e-verification using the OTP sent to your registered mobile number. This is all it takes to open a demat account with Upstox. Easy and quick, right? [ ](https://upstox.com/open-demat-account/\Open\Open) ## **Upstox – trading app to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO** Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. You can apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   22 Sept 2023

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   26 Sept 2023

   Last day to place your bid

3. Basis of Allotment

   Completed
   24 Sept 2023

   Share allotment finalised

4. Refund Initiation

   Completed
   03 Oct 2023

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   03 Oct 2023

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   03 Oct 2023

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.