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Manoj Vaibhav Gems N Jewellers IPO opens Sep 22;price band at ₹204 - ₹215


Vaibhav Jewellers is a leading regional jewellery brand in South India, with a presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms across 8 towns and 2 cities and a market share of ~4% of the overall Andhra Pradesh and Telangana jewellery market and ~10% of the organized market in these two states in FY2023, has fixed the price band at ₹204 to ₹215 per Equity Share for its initial public offer.


The initial public offering (“IPO” or “Offer”) of the Company will open on Friday, September 22, 2023, for subscription and closes on Tuesday, September 26, 2023. Investors can bid for a minimum of 69 Equity Shares and in multiples of 69 Equity Shares thereafter.


The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of equity shares worth up to Rs 210 crore and an Offer for Sale (OFS) of up to 2.8 million equity shares.


The jewellery brand is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh & Telangana thereby creating a market for branded jewellery in the area of operations. In 2007, it launched its flagship showroom in Visakhapatnam is spread across 29,946 sq ft and four different floors of shopping experience.



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