Vaibhav Jewellers IPO: share price range Rs 204-215 for Rs 270 Cr IPO

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

Vaibhav Jewellers Upcoming IPO Details:

Vaibhav Jewellers, also known as Manoj Vaibhav Gems ‘N’ Jewellers, has unveiled its IPO price band, setting it at Rs 204-215 per share for its upcoming debut in the stock market.

Vaibhav Jewellers IPO is scheduled to kick off next week, with bidding taking place over three working days, starting from September 22 and closing on September 26. Ahead of this, the anchor book, which can account for up to 60 percent of the qualified institutional buyers (QIB) portion, will open on September 21.

Vaibhav Jewellers Allocates IPO Shares:

This Andhra Pradesh-based jewelry company has earmarked 50 percent of the offer size for QIBs, 15 percent for high-net-worth individuals (non-institutional investors), and the remaining 35 percent for retail investors.

Vaibhav Jewellers IPO Size:

Vaibhav Jewellers aims to raise approximately Rs 270.2 crore through this public offering at the upper end of the price band. The IPO includes a fresh issuance of shares worth Rs 210 crore, and an offer-for-sale of 28 lakh shares worth Rs 60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).

The funds raised from the IPO will primarily be used to establish eight new showrooms, with the remaining capital allocated for general corporate purposes.

Vaibhav Jewellers IPO Lot Size:

Investors can participate by bidding for a minimum of 69 equity shares and in multiples of 69 shares thereafter. Retail investors can invest a minimum sum of Rs 14,835 for one lot (69 shares), with a maximum investment capped at Rs 1,92,855 for 897 shares to adhere to the Rs 2 lakh investment limit in IPOs.

High-net-worth individuals, permitted to invest between Rs 2-10 lakh in IPOs, can subscribe with a minimum of Rs 2,07,690 for 966 shares, with the upper limit set at Rs 9,93,945 for 4,623 shares.

Vaibhav Jewellers Financial Performance:

Led by first-generation woman entrepreneur Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthan, the jewellery brand has shown robust earnings growth in recent financial years. Profits have surged at a CAGR of 85.81 percent from FY21 to FY23, reaching Rs 71.6 crore in the financial year ending in 2022-23. Additionally, revenue from operations increased at a CAGR of 18.92 percent over the same period, reaching Rs 2,027.34 crore.

EBITDA (earnings before interest, tax, depreciation, and amortization) for FY23 stood at Rs 143 crore, reflecting a CAGR growth of 43.42 percent from FY21 to FY23. The margin also saw a rise from 4.85 percent in FY21 to 7.06 percent in FY23.

Vaibhav Jewellers IPO Allotment Date:

The finalization of the basis of allotment for IPO shares will be conducted by the jewellery retailer in consultation with the BSE, the designated stock exchange, by October 3. Equity shares will be credited to eligible investors’ demat accounts by October 5. Refunds for unsuccessful investors will be processed by the end of October 4.

Vaibhav Jewellers is set to list its equity shares on the BSE and NSE on October 6, according to the IPO schedule.

Vaibhav Jewellers IPO Registrar:

The book running lead managers for the offering are Bajaj Capital and Elara Capital (India), with Bigshare Services serving as the registrar to the issue. Stay tuned for more updates on this exciting IPO opportunity in the coming weeks!

About Vaibhav Jewellers:

Vaibhav Jewellers functions as a multifaceted entity, encompassing roles as a producer, distributor, and seller, with a profound focus on crafting magnificent gold and platinum jewelry adorned with dazzling diamonds. Their proficiency thrives in the crafting of timeless jewelry designs. Their core ethos centers on delivering customers a jewelry experience defined by unparalleled beauty, value, sophistication, and craftsmanship.

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