Vaibhav Jewellers IPO to open next week; check price band, other important details
Retail investors can bid for a minimum of 69 equity shares in each lot worth Rs 14,835 and in multiples of 69 equity shares thereafter.
The initial public offering (IPO) of Manoj Vaibhav Gems 'N' Jewellers, or Vaibhav Jewellers, will open for subscription on September 22. The anchor book will open for a day on September 21. Those who want to subscribe to the IPO can do so between September 22 and September 26.
Manoj Vaibhav Jewellers, a leading jewellery brand in South India, is offering its equity shares in the price range of Rs 204-215 apiece at a face value of Rs 10 each for the public issue.
Retail investors can bid for a minimum of 69 equity shares in each lot worth Rs 14,835 and in multiples of 69 equity shares thereafter. Retail investors can bid for a maximum of 13 lots of 897 equity shares. It will cost Rs 1,92,855. As per the rule, retail investors can invest for a maximum of Rs 2 lakh in an IPO.
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The jewellery firm has reserved half of the offered size for the QIB and 15 per cent for high-networth individuals (non-institutional investors). The remaining 35 per cent is reserved for retail investors.
The company has plans to raise Rs 270.2 crore via a public offer. The offer comprises a fresh issuance of equity shares worth Rs 210 crore and an offer-for-sale (OFS) of Rs 60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).
Bigshare Services Pvt Ltd is the registrar for the issue. The allotment status will be released online on the official website of the registrar and the BSE website.
The equity shares of Manoj Vaibhav Jeweller are proposed to be listed on both the leading exchanges NSE and BSE. The listing will likely take place on October 6 (Friday).
Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers of the IPO.
Manoj Vaibhav Jeweller has a presence in the micro markets of Andhra Pradesh and Telangana. The company operates more than a dozen showrooms.
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