Vaibhav Jewellers IPO set to make debut on September 22

Vaibhav Jewellers sets IPO price at Rs 204-215 per share, raising Rs 270 Cr

Vaibhav Jewellers IPO Debut on September 22

Vaibhav Jewellers IPO Details

The highly anticipated initial public offering (IPO) of Vaibhav Jewellers, a distinguished jewelry brand based in Andhra Pradesh, is set to open for subscription on September 22. This remarkable IPO comprises a fresh issue component of Rs 210 crore, complemented by an offer-for-sale (OFS) of 28 lakh shares by the company’s promoter, Grandhi Bharata Mallika Ratna Kumari (HUF).

As per the official IPO schedule outlined in the red herring prospectus, the public issue will conclude on September 26, with the anchor book available for one day on September 21.

Vaibhav Jewellers IPO Allocation

The IPO allocation is structured to cater to various investor categories. Half of the offer size is reserved for qualified institutional buyers (QIBs), with up to 60 percent of this portion allocated to anchor investors. Additionally, 15 percent of the issue size is earmarked for high net worth individuals (non-institutional investors), leaving the remaining 35 percent for retail investors.

The net proceeds from the fresh issue will primarily be channeled towards the establishment of eight new showrooms, representing an investment of Rs 172 crore in the financial years ending in March FY24 and March FY25. The remaining funds raised through the IPO will be allocated for general corporate purposes.

Vaibhav Jewellers IPO Key Dates

Vaibhav Jewellers, in collaboration with the BSE, plans to finalize the allotment of IPO shares by October 3. Successful investors can anticipate the credit of equity shares to their demat accounts by October 5, while refunds for unsuccessful investors will be processed by October 4.

Mark your calendars for the beginning of equity share trading on the BSE and NSE, commencing on October 6.

Vaibhav Jewellers IPO Registrar

The esteemed merchant bankers overseeing this IPO are Bajaj Capital and Elara Capital (India), while Bigshare Services is the appointed registrar to the offer.

About Vaibhav Jewellers:

Vaibhav Jewellers operates as a manufacturer, wholesaler, and retailer specializing in exquisite diamond-studded gold and platinum jewelry. Their expertise lies in the creation of traditional jewelry pieces. Their overarching philosophy revolves around providing customers with the utmost in beauty, value, elegance, and quality that jewelry can embody.

For more of the Latest News, Click Here

Leave a Reply

Your email address will not be published. Required fields are marked *