BackManoj Vaibhav Gems IPO Day 3: Issue sails through on last day; subscribed 2.25 times so far; retail portion booked 1.66x
Manoj Vaibhav Gems IPO price band has been fixed at ₹204 to ₹215 per equity share. The total IPO size is 1.25 crore equity shares worth ₹270.20 crore.
PremiumManoj Vaibhav Gems IPO: The initial public offering (IPO) of jewellery brand Manoj Vaibhav Gems ‘N’ Jewellers Ltd, has sailed through on Tuesday, the last day of the bidding. Manoj Vaibhav IPO opened for subscription on September 22 and will close today, September 26.
Manoj Vaibhav Gems ‘N’ Jewellers Ltd is a hyperlocal jewellery retail chain with a presence in the micro markets of Andhra Pradesh and Telangana with 13 showrooms across 8 towns and 2 cities.
Let us check Manoj Vaibhav Gems IPO subscription status, GMP today and other key details.
Manoj Vaibhav Gems IPO Subscription Status
Manoj Vaibhav Gems IPO has been fully subscribed. The public issue was subscribed 2.25 times in total on Tuesday, the third and the last day of the bidding process, as it received bids for 2.05 crore equity shares as against 91.20 lakh shares on the offer, according to data available on BSE.
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: Manoj Vaibhav Gems IPO: Bidding ends today. GMP, subscription status, apply or not?
Manoj Vaibhav Gems IPO GMP Today
Manoj Vaibhav Gems IPO GMP today, or grey market premium today, is ₹12 per share, as per market observers. This indicates that Manoj Vaibhav Gems shares are trading higher by ₹12 than their issue price, in the grey market. The GMP data shows a premium of mere 5.5% to the issue price.
The latest GMP and the issue price signals that the estimated listing price of Manoj Vaibhav Gems shares could be ₹227 apiece on the stock exchanges BSE and NSE.
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Manoj Vaibhav Gems IPO Details
Manoj Vaibhav Gems IPO price band has been fixed at ₹204 to ₹215 per equity share. The total IPO size is 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 is 69 shares and the minimum investment amount required by retail investors is ₹14,835.
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The IPO of the south Indian jeweller opened for subscription on September 22 and will close for bidding today, September 26.
The company has already raised ₹81.06 crore from anchor investors on September 21 ahead of the IPO opening. It has allocated 37.70 lakh shares to the anchor investors.
Bajaj Capital Ltd and Elara Capital (India) Pvt Ltd are the book running lead managers for the IPO while Bigshare Services Pvt Ltd is the official IPO registrar.
Also Read: Fincare Small Finance Bank IPO gets SEBI approval
The announcement of share allocation can be expected on September 27, while the company may initiate refunds on September 29.
Manoj Vaibhav Gems IPO listing date is estimated to be October 3 and the shares will be listed on BSE and NSE.
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