Manoj Vaibhav Gems 'N' Jewellers Limited

About Manoj Vaibhav Gems 'N' Jewellers Limited IPO  Incorporated in 1989, Manoj Vaibhav Gems ‘N’ Jewellers Limited is a hyperlocal jewellery retail chain in South India with presence in the micro markets of Andhra Pradesh & Telangana. As of FY23, it enjoys a market share of ~4% of the overall Andhra Pradesh and Telangana jewellery market and ~10% of the organised market in these two states.  The company operates 13 showrooms across 8 towns and 2 cities with 77% of its retail showrooms are in Tier 2 and Tier 3 cities, catering to the semi urban and rural demand of Andhra Pradesh and Telangana. Company follows hub & spoke model wherein small sized showrooms operating peripheral to the larger showrooms. This way company can offer new products on a continues basis to its customers and capture market share.  Its range of products includes Gold, Diamond, Gems, Platinum and Silver Jewellery. Its marketing strategies comprise focused group discussions for educating customers; exhibitions to showcase new collections; door-to-door activities for direct selling as well as maintaining a marriage database which helps them invite couples and families to purchase jewellery for the occasion.  Between FY21 and FY23, the company has seen a CAGR rise of 12% in its revenue from operations and 51% in its profit along with an EBITDA margin of 7% in FY23. Moreover, the Andhra Pradesh and Telangana jewellery markets are expected to grow at a CAGR of ~18% by FY27 which could be beneficial for the company.  And now, Manoj Vaibhav Gems ‘N’ Jewellers Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised through the fresh issue will be utilised for the capital expenditure and inventory cost of the 8 proposed showrooms and general corporate purposes. Its shares will be listed on the NSE and the BSE.  Here are key details about the Manoj Vaibhav Gems 'N' Jewellers IPO:     Company Name  Manoj Vaibhav Gems 'N' Jewellers Limited   Company Type  Private    Company Established On  1989   Manoj Vaibhav Gems 'N' Jewellers Limited IPO Opening Date  22nd September, 2023    Manoj Vaibhav Gems 'N' Jewellers Limited IPO Closing Date  26th September 2023   Manoj Vaibhav Gems 'N' Jewellers Limited IPO Allotment Status  3rd October 2023    Credit of Shares to the Demat Account  5th October 2023   Manoj Vaibhav Gems 'N' Jewellers Limited IPO Listing Date  6th October 2023    Manoj Vaibhav Gems 'N' Jewellers Limited IPO Face Value  ₹ 10 per share   Manoj Vaibhav Gems 'N' Jewellers Limited IPO Lot Size  69 shares    Manoj Vaibhav Gems 'N' Jewellers Limited IPO Issue Size  Approx ₹270 crore   Manoj Vaibhav Gems 'N' Jewellers Limited IPO to be Listed on  BSE, NSE    Manoj Vaibhav Gems 'N' Jewellers Limited IPO Price band  ₹204 – ₹ 215 per share        Financial snapshot     Particulars  FY 21  FY 22  FY 23    Revenue  ₹ 1,433 crore  ₹ 1,693 crore  ₹ 2,027 crore    Net Profit/Loss  ₹ 20.7 crore  ₹43.6 crore  ₹ 71.5 crore              A quick look at Manoj Vaibhav Gems 'N' Jewellers Limited IPO’s strengths, risks and threats  Strengths   Leading home-grown regional brand with a presence of over 28 years working with many of its suppliers and job workers for more than 15 years.  Average revenue per retail showroom increased from ₹119 crore to ₹155 crore, a CAGR growth of over 9% between FY21 to FY23.  Early mover advantage in the state of Andhra Pradesh because it started its business as a proprietorship concern in 1994.  Positioned to benefit as rural markets contribute to 58% of the jewellery demand in India, even after rise in gold prices or during post harvest seasons.  Offers diverse product designs at various price ranges to customers.   Risks and threats   Significant working capital requirements and need for financing making up ₹361 crore of working capital loans and ₹332 crore of outstanding capital loans as of 15 August 2023.  Concentrated in the state of Andhra Pradesh and Telangana which exposes it to socio-economic or geo-political risks.  Operates in a competitive market and faces competition from other jewellery retailers.  Experienced negative cash flow from operating activities in FY21 and from financing activities in FY22 and FY23.            Manoj Vaibhav Gems 'N' Jewellers Limited IPO details  | Manoj Vaibhav Gems 'N' Jewellers Limited IPO date  According to the offer document filed by the company with the SEBI, the Manoj Vaibhav Gems 'N' Jewellers IPO’s opening date – in other words, the Manoj Vaibhav Gems 'N' Jewellers IPO launch date – will be 22nd September 2023. The Manoj Vaibhav Gems 'N' Jewellers IPO closing date is 26th September 2023. After this, investors will be updated about the allotment status on 3rd October 2023.  Investors, who have been allotted shares, can expect them to be credited to their demat account on 5th October 2023. The Manoj Vaibhav Gems 'N' Jewellers IPO listing date is 6th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  | Manoj Vaibhav Gems 'N' Jewellers Limited IPO price band  The IPO is an offer for sale as well as a fresh issue. The Manoj Vaibhav Gems 'N' Jewellers IPO price band has been set between ₹204 and ₹215 per share. Interested investors can choose a price within this band to apply for the IPO.  The Manoj Vaibhav Gems 'N' Jewellers IPO listing price will be determined on 6th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.  | Manoj Vaibhav Gems 'N' Jewellers Limitedd IPO lot size  The Manoj Vaibhav Gems 'N' Jewellers IPO details have been declared. The Manoj Vaibhav Gems 'N' Jewellers IPO lot size is set at 69 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Manoj Vaibhav Gems 'N' Jewellers IPO issue size is approx ₹270 crore.           How to pre-apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO?  You can pre-apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.  Follow these steps to pre-apply for the IPO:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘ Manoj Vaibhav Gems 'N' Jewellers Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Pre-Apply’  Accept the mandate on your UPI app            How to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO?  If you are interested in this investment opportunity but unsure how to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO, here we are listing out the steps for you.  When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘ Manoj Vaibhav Gems 'N' Jewellers Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Apply’  Accept the mandate on your UPI app            How to check the Manoj Vaibhav Gems 'N' Jewellers Limited IPO allotment status?  When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.  Here’s a step-by-step guide on how to check the Manoj Vaibhav Gems 'N' Jewellers Limited IPO allotment status:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover page, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, you will find the ‘View all’ option  Once you click on ‘View all’, you will be directed to the ‘IPO’ tab  In the ‘IPO’ tab, click on ‘My applications’  In ‘My applications’, under the History section, your Manoj Vaibhav Gems 'N' Jewellers Limited IPO allotment status will be mentioned            Open a demat account with Upstox to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO  To apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.  Here is a step-by-step guide on how to open a demat account with Upstox:   Click here to visit the demat account opening page on the Upstox website.  Enter your phone number and other essential details to begin opening a demat account.  Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  Complete the e-verification using the OTP sent to your registered mobile number.   This is all it takes to open a demat account with Upstox. Easy and quick, right?            Upstox – trading app to apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO  Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.  You can apply for the Manoj Vaibhav Gems 'N' Jewellers Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.  In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.