Vaibhav Jewellers IPO to open on September 22; From GMP to price band - here are 10 things to know
Vaibhav Jewellers IPO: The mainboard initial public offering (IPO) of Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers will be opening for subscription on Friday, September 22. Also known as Vaibhav Jewellers, the firm is a regional jewelry brand in South India.
The company offers gold, silver, and diamond jewelry, precious gemstones, and other jewelry products through retail showrooms and its website. The hyperlocal jewellery retail chain with presence in Andhra Pradesh and Telangana has 13 showrooms including two franchisee showrooms, across eight towns and two cities.
It is a 100 per cent promoters-owned company. 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, 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 square ft and four different floors of shopping experience. The first generation woman entrepreneur Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthan-led jewellery brand recorded healthy earnings growth in past years with profit growing at a compound annual growth rate (CAGR) of 85.81 per cent during FY21-FY23 to ₹71.6 crore in the financial year ended 2022-23, and the revenue from operations increasing at a CAGR of 18.92 per cent during the same period to ₹2,027.34 crore.
Vaibhav Jewellers IPO date: Vaibhav Jewellers IPO opens for subscription on Friday, September 22, and will close on Tuesday, September 26. Vaibhav Jewellers IPO price band: Vaibhav Jewellers price band has been fixed in
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