Manoj Vaibhav IPO: Check GMP, Subscription Status Today


reported by, Mohammad Haris

Last updated: September 25, 2023, 16:55 IST

The price range for Manoj Vaibhav IPO is Rs 204-215 per share.

The price range for Manoj Vaibhav IPO is Rs 204-215 per share.

Manoj Vaibhav IPO: Unlisted shares of Manoj Vaibhav James N Jewelers Ltd are trading at Rs 13 higher or about 6.05 per cent above its upper issue price of Rs 215 per share.

Manoj Vaibhav IPO Update: Manoj Vaibhav The initial public offering (IPO) of James N Jewelers Ltd, which opened for public subscription on September 22, is witnessing the second day of bidding. The Rs 270.20 crore IPO was subscribed 27 per cent on Monday, with bids received for 24,42,738 shares against 91,20,664 shares on offer, according to latest NSE data as of 1640 IST.

As of 1640 IST on the second day of bidding, the retail individual investors category was subscribed 42 per cent, while the non-institutional investors’ portion was subscribed 27 per cent.

Manoj Vaibhav IPO GMP

According to market observers, Manoj Vaibhav James N Jewelers Ltd is currently trading at Rs 13 higher in the gray market. The gray market premium or GMP of Rs 13 is about 6.05 per cent higher than its upper issue price of Rs 215 per share. This means that the gray market expects 6.05 percent listing gain from the public issue.

The ‘grey market premium’ refers to the willingness of investors to pay more than the issue price.

Manoj Vaibhav IPO Details

The IPO proposes a fresh issue of up to Rs 210 crore and sale of 28,00,000 equity shares. The funds raised will be used to open eight new showrooms, purchase inventory for these new stores and for general corporate purposes.

The price range for the offer is Rs 204-215 per share. The minimum lot size is 69 shares. The minimum investment amount required for retail investors is Rs 14,835. The minimum lot size investment for NII is 14 lots (966 shares), amounting to Rs 207,690, and for NII, it is 68 lots (4,692 shares), amounting to Rs 1,008,780.

The IPO allotment will take place on October 3, and Manoj Vaibhav James N Jewelers Ltd will make its market debut with share listing on NSE and BSE on October 6.

The company raised Rs 81.05 crore from anchor investors on September 21.

The company, a regional jewelery brand in South India, has a presence with 13 showrooms across eight towns and two cities in Andhra Pradesh and Telangana.

Bajaj Capital and Elara Capital (India) are the managers of the offer.

(The story has been updated with the latest data)

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