Investors interested in the Manoj Vaibhav Gems IPO GMP, Subscription, Lot Size, Share Price Today, and other related details about the IPO will get full details on this web page.
Manoj Vaibhav Gems IPO GMP
The leading regional jewelry company in South India, Vaibhav Jewelers, has been given a green signal for Initial Public Offerings. Most of the jewelry company branches are in Telangana and Andhra Pradesh. Substantial growth has been recorded in the recent financial year of the company. This is why numerous investors are interested in buying the company’s shares.
The IPO is opening on 22nd September 2023, and the application will be accepted till 26th September 2023. The company has fixed the share price band from Rs 204 to Rs 215. The face value of one share of the company is Rs 10, and the final price of the share will be within this band through the book-building process.
The jewelry company is hitting the stock market next week, and the bidding will continue till 26th September 2023. The company’s goal for the Initial public offering is to raise about INR 270 crores. The company plans to build 8 new showrooms with the proceeds from the IPO. It is projected that Rs 172 crore will be invested in these showrooms, and the remaining amount will be used for corporate purposes.
For the IPO, the reservation has been fixed. The Qualified Institutional Buyers will be offered not more than 50% of the net offer, while for NII (HNI), not less than 15% of the offer has been fixed, and the remaining 35% shares are offered to retail investors.
Manoj Vaibhav Gems IPO Highlights
|IPO Dates||September 22 to September 26, 2023|
|Total Shares Offered||12,567,442 shares|
|IPO size||Rs 270 Crore|
|Objective||To set up 8 new showrooms and for corporate purpose|
|Fresh Issue||9,767,442 shares|
|Offer for Sale||2,800,000 shares|
|Shares listed on||BSE, NSE|
|Issue Type||Book Built Issue IPO|
|Lot Size||69 shares|
|Face Value||Rs 10 per share|
|Price Band||Rs 204 to Rs 215 per share|
|Allotment Date||3rd October 2023|
|Initiation of Refunds||4th October 2023|
|Share Listing Date||6th October 2023|
Vaibhav Gems IPO Subscription
The jewelry company is hitting the stock market next week, and the bidding will continue till 26th September 2023. The jewelry company’s IPO consists of new shares and sale offers. The promoter Grandhi Bharata Mallika Ratna Kumari (HUF), will make a full offer for sale. The fresh shares offered for subscription are 97,67,442, which, when placed at the upper band of Rs 215, will translate to Rs 210 crore.
The OFS of the IPO comprises 28 lakh shares at the upper band of Rs 215, generating Rs 60.20 crores. Hence the overall IPO portion of the jewelry company issues 1,25,67,442 shares which, when placed at the upper band, will generate revenue of Rs 270.20 crores.
Manoj Vaibhav Gems Lot Size
The minimum amount of shares an investor must submit as part of an IPO application is the lot size. The lot size only applies to the initial public offering (IPO), and since it is a mainboard issue, shares can even be sold in multiples of one share once it is listed. Regarding the Manoj Vaibhav Gems IPO, the minimum lot size is 69 shares, indicating a minimum investment of Rs 14,835 when placed in the upper band.
Below we have tabulated the minimum and maximum lot sizes of different categories of investors.
|Investors||Lots||Number of Shares||Amount to be invested|
|Retail (Minimum)||1||69||Rs 14,835|
|Retail (Maximum)||13||897||Rs 1,92,855|
|S-HNI (Minimum)||14||966||Rs 2,07,690|
|S-HNI (Maximum)||67||4,623||Rs 9,93,945|
|B-HNI (Minimum)||68||4,692||Rs 10,08,780|
For the B-HNI investor category, there is no maximum limit applicable.
The lot size of the IPO has been fixed at 69 shares per lot. 13 lots is the maximum size of the retail investors. Hence, the upper band’s minimum investment is Rs 14,835(69 x 215), and the maximum investment is Rs 1,92,855 (13 x 69 x 215).
The asset turnover ratio shows that the corporation has kept up an impressive rate of sweating assets. It has continuously averaged above 1.8X, which is highly encouraging for a company that is growing and investing heavily.
So if you are interested in buying company shares, you can apply through ASBA online through your bank account. You can also apply for ASBA through UPI via your stock brokers.
Additionally, to get more details on IPO, bookmark this web page.
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