Vaibhav Jewellers Files for IPO and Unveils Massive Expansion Plan

Manoj Vaibhav Gems ‘N’ Jewellers known as Vaibhav Jewellers, a major regional jewellery business in South India, has filed for an initial public offering (IPO) to raise 270.20 crore. The funds will be used to fund the creation of eight new showrooms as well as general business objectives.

Vaibhav Jewellers is a hyperlocal jewellery retail business with 13 shops in Andhra Pradesh and Telangana, led by Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthana. The company serves all economic segments of these two states’ micromarkets. It has a strong rural market focus as well as a devoted metropolitan market focus.

The company’s competitive assets, according to the company, are its major leading home-grown regional brand built on a hyperlocal retail approach, its early mover advantage in the state of Andhra Pradesh, and its focus on reinforcing its business through a rural market focus.

The IPO includes a new issue of 9,767,442 shares and a sale of 2,800,000 shares. The issue price has been set at between 204 and 215 cents per equity share. The IPO goes on sale on September 22nd, 2023, and ends on September 26th, 2023. On October 5, 2023, the shares are planned to be listed on the NSE and BSE.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top