Vaibhav Jewellers coming out with IPO
The Hindu
Vaibhav Jewellers has come out with an IPO, with a price band of ₹204-215/share. The issue opens on Sept 22 and closes on Sept 26. Investors can bid for a min. of 69 shares. The issue comprises fresh issuance of ₹210 cr and an OFS of 2.8 mn shares. Revenue & PAT grew 18.92% & 85.81% CAGR in FY21-23. Bajaj Capital & Elara Capital are the book-running lead managers.Vaibhav Jewellers offers IPO with price band of ₹204-215/share. Min. bid 69 shares. Fresh issuance of ₹210 cr & OFS of 2.8 mn shares. Revenue & PAT grew 18.92% & 85.81% CAGR in FY21-23. Bajaj Capital & Elara Capital are book-running lead managers.
Vaibhav Jewellers have come out with an Initial Public Offering (IPO).
The price brand for the IPO has been fixed at ₹204 to ₹215 per Equity Share. The IPO will be open for subscription on September 22, 2023, and closes on September 26, 2023.
Investors can bid for a minimum of 69 Equity Shares, and in multiples of 69 Equity Shares thereafter. The Floor Price is 20.4 times the face value of the Equity Share and the Cap Price is 21.5 times the face value of the Equity Share.
The Public Issue of face value of ₹10 per Equity Share comprises fresh issuance of equity shares worth up to ₹210 crore and an Offer for Sale (OFS) of up to 2.8 million equity shares, according to a statement issued by the company.
Vaibhav Jewellers has 13 showrooms across eight towns and two cities, and a market share of 4% of the overall Andhra Pradesh and Telangana jewellery market and 10% of the organised market in these two States in the financial year 2023.
In 2007, the company had launched its flagship showroom in Visakhapatnam that is spread across 29,946 sq. ft.
About 77% of its retail showrooms are in Tier-2 and Tier-3 cities. Each of its showrooms houses varied exquisite and large inventory designs across a wide range of products in gold, diamond, gems, platinum and silver jewellery or articles. Its sub-brand, Visesha, caters to a premium segment of gold and diamond jewellery.
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