Vaibhav Jewellers IPO: Key Details and Analysis
Vaibhav Jewellers, a hyperlocal jewellery retail chain with presence in Andhra Pradesh and Telangana, has announced its maiden public issue (IPO) with a price band of Rs 204-215 per share. The bidding for the offering will take place for three working days from September 22 to September 26, 2023.
The IPO comprises a fresh issuance of shares worth Rs 210 crore and an offer-for-sale (OFS) of 28 lakh shares worth Rs 60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF). The net proceeds from the fresh issue will be utilized to fund the establishment of eight new showrooms and for general corporate purposes.
The company has reserved half of the offer size for qualified institutional buyers (QIBs), 15 percent for high networth individuals (HNIs), and the remaining 35 percent for retail investors. Investors can bid for a minimum of 69 equity shares and in multiples of 69 shares thereafter.
Vaibhav Jewellers has recorded healthy earnings growth in past financial years with profit growing at a CAGR of 85.81 percent during FY21-FY23 to Rs 71.6 crore in the financial year ended 2022-23, and the revenue from operations increasing at a CAGR of 18.92 percent during the same period to Rs 2,027.34 crore.
The EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 143 crore in FY23 grew at a CAGR of 43.42 percent in the years during FY21-FY23, and the margin increased from 4.85 percent in FY21 to 7.06 percent in FY23.
Vaibhav Jewellers is a well-established jewellery retailer with a strong track record of growth. The company has a strong presence in Andhra Pradesh and Telangana, and it is expanding its reach to other markets. The company’s IPO is reasonably priced and offers investors an opportunity to invest in a growing business.
However, investors should note that the jewellery retail industry is competitive and the company faces risks such as fluctuations in gold prices, changes in consumer preferences, and economic downturns.
Overall, Vaibhav Jewellers IPO is a good investment opportunity for investors with a long-term investment horizon and a risk appetite.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.