Manoj Vaibhav Gems share price lists flat at issue price of ₹215 on NSE

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₹215 on Tuesday (October 3). Both on the NSE and on the BSE, Manoj Vaibhav Gems share price was listed at ₹215. Manoj Vaibhav Gems IPO opened for subscription on September 22 and closed on September 26.

The Manoj Vaibhav Gems IPO price band was fixed at ₹204 to ₹215 per equity share. The total IPO size was 1.25 crore equity shares worth ₹270.20 crore, which comprises a fresh issue of 97.67 lakh shares aggregating to ₹210.00 crore and an offer for sale of 28 lakh shares aggregating to ₹60.20 crore. The lot size was 69 shares and the minimum investment amount required by retail investors was ₹14,835.

Also Read: Manoj Vaibhav Gems IPO listing date today. GMP, experts predict positive debut of shares According to stock market experts, Manoj Vaibhav Gems 'N' Jewellers Limited is a hyperlocal jewellery brand, which has a strong presence in Andhra Pradesh and Telangana. Its single outlet in Vishakhapatnam brings rs 1350 crore annual business.

So, its one outlet is enough to keep it in the profit zone. However, much will depend upon its performance in the post-listing phase. They said that Manoj Vaibhav Gems shares may have a positive debut on the listing date.

They said that Manoj Vaibhav Gems share price may open at around ₹5 to ₹8 per share premium. Also Read: JSW Infrastructure share price debuts at 20% premium at ₹143 on NSE and BSE Manoj Vaibhav Gems IPO was fully subscribed. The public issue was subscribed 2.25 times as it received bids for 2.05 crore equity shares as against 91.20 lakh shares on the offer.

The IPO has been booked 1.66 times in the retail category and 5.18 times in the Non-Institutional Investors’ (NII) category. The Qualified Institutional Buyers (QIB) portion was subscribed 1.06 times. Also Read: