Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO Review, Date, Price, GMP

Manoj Vaibhav Gems ‘N’ Jewellers Limited Incorporated in 2003 is a prominent regional jewellery brand in South India, led by first-generation woman entrepreneur Mrs. Bharata Mallika Ratna Kumari Grandhi and her daughter Grandhi Sai Keerthana. They have established themselves as a hyperlocal jewellery retail chain with a presence in the micro markets of Andhra Pradesh and Telangana, boasting 13 showrooms, including two franchisee outlets, spread across 8 towns and 2 cities.

Manoj Vaibhav Gems ‘N’ Jewellers Limited holds a market share of approximately 5% in the overall jewellery market of Andhra Pradesh and Telangana and about 14% in the organized segment within these states in FY2021. They were early entrants in the organized jewellery retail market of Andhra Pradesh and continue to focus on regional expansion, targeting high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana, aiming to establish a market for branded jewellery.

Manoj Vaibhav Gems ‘N’ Jewellers Limited caters to all economic segments in the micro markets of Andhra Pradesh and Telangana through dedicated branded showrooms, with a strong focus on both rural and urban markets. They’ve established themselves as an outlet that focuses on “Relationships, by Design,” with designs, excellent quality, transparency, and great customer service. To interact with their target audience, they organize exhibitions to determine consumer tastes and use various marketing strategies.

Most of the company’s retail showrooms are located in Tier 2 and Tier 3 cities, supplying semi-urban and rural demand. At the same time, 15% are based in Hyderabad’s Mini Metro and 8% in Visakhapatnam’s Tier 1 city, serving urban customers. Manoj Vaibhav Gems ‘N’ Jewellers Limited follows a hub and spoke model, with smaller showrooms complementing the larger ones, allowing them to introduce new products to semi-urban and rural customers continuously.

Manoj Vaibhav Gems ‘N’ Jewellers Limited believes in fostering customer relationships and conducts various activities, campaigns, and promotional events to engage with their customers. These activities include focused group discussions for customer education, exhibitions to showcase new collections and raise brand awareness, village campaigns to connect with rural customers, door-to-door activities for direct selling, and a dedicated marriage cell that assists couples and their families with jewellery purchases for special occasions.

They have also designed an e-commerce website, www.vaibhavjewellers.com, for online sales, alongside their presence on other online marketplaces. The website is very user-friendly, offering online shopping, inquiries, and live video shopping options. The website also operates as a platform to showcase its diverse collection and expand their online sales reach beyond southern boundaries, potentially targeting other micro-markets and states. Their e-commerce initiative is closely integrated with their retail showrooms, enabling direct selling through augmented reality and video conferencing.

Manoj Vaibhav Gems ‘N’ Jewellers Limited procures jewellery outright from their list of suppliers and also supplies bullion to job workers for creating custom jewellery designs according to their specifications. They offer a wide range of gold, silver, diamond jewellery, precious gemstones, and other jewellery goods which are suitable for all types of customers and events throughout the year, including festivals, weddings, and special days such as Akshaya Tritiya.

Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO Complete Details:

Manoj Vaibhav Gems ‘N’ Jewellers Limited IPO Timetable:

Company Financial Details:

AS OF NOW, the GMP OF Manoj Vaibhav Gems ‘N’ Jewellers Limited is Around 07 Rs.

Objects Of Issue:

1. Financing the establishment of eight (8) new showrooms, including:
   (a) Covering the capital expenditure costs for these proposed showrooms.
   (b) Covering the inventory costs for these proposed showrooms.
2. Funding for general corporate purposes.

Promoters and Group:

Bharata Mallika Ratna Kumari Grandhi:

• Position: Promoter, Chairperson, and Managing Director of the Company
• Experience: With 22 years of experience in the jewellery industry, she has been associated with the Company since 2001.
• Education: Completed her Higher Secondary School in 1987.

Grandhi Sai Keerthana:

• Position: Whole-Time Director and CFO of the Company
• Qualifications: Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). Also Holds a Bachelor of Commerce degree from Andhra University.
• Current Role: Manages the finances of the Company.

Grandhi Bharata Mallika Ratna Kumari (HUF):

• Formation: Came into existence on April 22, 1990, with Manoj Kumar Grandhi as the Karta.
• Members: Included Bharata Mallika Ratna Kumari Grandhi, Grandhi Sai Sindhuri, Grandhi Sai Keerthana, and Grandhi Durga Krishna Sai Sarayu.
• Transition: Following the demise of Mr. Manoj Kumar Grandhi on February 07, 2012, Bharata Mallika Ratna Kumari Grandhi, as the eldest surviving co-parcener, became the Karta of Grandhi Bharata Mallika Ratna Kumari (HUF).
• Name Change: Subsequently, the name of Manoj Kumar Grandhi (HUF) was changed to Grandhi Bharata Mallika Ratna Kumari (HUF).

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