Vaibhav Jewellers IPO: Firm mobilises ₹81 crore from anchor investors ahead of issue

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Vaibhav Jewellers IPO: Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers has raised ₹81 crore from anchor investors a day ahead of its IPO subscription opening for bidding. Vaibhav Jewellers initial public offering (IPO) will open for subscription on Friday, September 21 and close on Tuesday, September 26. The regional jewellery brand has fixed the price band at in the range between ₹204 - ₹215 per equity share at a face value of ₹10 each for the public issue.

Tano Investment Opportunities Fund, Quantum-State Investment Fund, Coeus Global Opportunities Fund, Nexus Global Opportunities Fund, Neomile Growth Fund, AG Dynamic Funds, Eminence Global Fund, Chhatisgarh Investments are among the investors in the anchor book. Also Read: Vaibhav Jewellers IPO to open on September 22; From GMP to price band - here are 10 things to know Vaibhav Jewellers IPO is a book-built issue. The offer comprises a fresh issuance of shares worth ₹210 crore, and an offer-for-sale of 28 lakh shares worth ₹60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF).

Investors can bid for a minimum of 69 equity shares and in multiples of 69 shares thereafter. The hyperlocal jewellery retail chain has reserved half of the offer size for the qualified institutional buyers (QIBs), 15 per cent for high net-worth individuals (non-institutional investors), and the remaining 35 per cent for retail investors. Vaibhav Jewellers IPO basis of allotment of shares will be finalised on Tuesday, October 3 and the company will initiate refunds on Wednesday, October 4, while the shares will be credited to the demat account of allottees on Thursday, October 5.