Manoj Vaibhav Gems N Jewellers IPO subscribed 2.25 times on final day

Manoj Vaibhav Gems N Jewellers IPO: Manoj Vaibhav Gems N Jewellers launched an initial public offer (IPO) on Friday, September 22, to raise up to Rs 270.2 crore. The public offer comprises fresh issuance of shares worth up to Rs 210 crore, and an offer for sale (OFS) worth up to Rs 60.2 crore by promoters and existing shareholders. Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers deals in gold, silver, and diamond jewellery, and related products such as precious gemstones, through online and offline modes.

Manoj Vaibhav Gems N Jewellers subscription status

On the final day of the bidding process, the IPO received bids for as many as 2.05 crore shares against the 91.2 lakh shares on offer, translating to an overall subscription of 2.25 times, according to provisional exchange data.

Here are a few important details to know about the Manoj Vaibhav Gems IPO:

Manoj Vaibhav Gems allotment date, Manoj Vaibhav Gems listing date

The basis of the allotment of shares is set to be finalised on October 3, and the credit of shares to the demat accounts of successful bidders on October 5. Manoj Vaibhav Gems shares are likely to be listed on bourses BSE and NSE on October 6.

Manoj Vaibhav Gems IPO price band

Under the IPO, potential investors can bid for Manoj Vaibhav Gems shares in a price band of Rs 204-215 apiece in multiples of 69 shares, translating to Rs 14,076 per lot.

Manoj Vaibhav Gems IPO: Fund Utilisation

The company plans to utilize the proceeds from the fresh issuance mainly to finance the Establishment of the proposed 8 new showrooms, i.e.
-Capital expenditure cost for the proposed eight new showrooms,
-Inventory cost for the proposed eight (8) new showrooms and for general corporate purposes.

Manoj Vaibhav Gems IPO anchor investors

Ahead of the initial public offering (IPO), Manoj Vaibhav Gems 'N' Jewellers has raised Rs 81.06 crore from anchor investors. The company has informed exchanges that the IPO committee has finalised the allocation of 37,70,160 equity shares to anchor investors at Rs 215 per equity share.

Quantum-State Investment Fund, Tano Investment Opportunities Fund, Nexus Global Opportunities Fund, Coeus Global Opportunities Fund, Neomile Growth Fund, AG Dynamic Funds, Chhatisgarh Investments and Eminence Global Fund are the investors in the anchor book.

Manoj Vaibhav Gems IPO lead managers

Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers and Bigshare Services is the official registrar of Manoj Vaibhav Gems.

What does Manoj Vaibhav Gems do?

Incorporated in 2003, Manoj Vaibhav Gems 'N' Jewellers also known as Vaibhav Jewellers is a regional jewelry brand in South India. The company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms as well as through its website

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