BackManoj Vaibhav Gems share price lists flat at issue price of ₹215 on NSE
Manoj Vaibhav Gems share price listed at ₹215, its issue price, on the NSE and BSE. IPO fully subscribed.
PremiumManoj Vaibhav Gems listing date: Manoj Vaibhav Gems share price was listed on the bourses at its issue price of ₹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.
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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.
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The company had already raised ₹81.06 crore from anchor investors on September 21 ahead of the IPO opening. It 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.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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