Latest News | Manoj Vaibhav Gems IPO Subscribed 13 Pc on Day 1 of Offer
Get latest articles and stories on Latest News at LatestLY. The Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers Ltd was subscribed 13 per cent on the first day of subscription on Friday.
New Delhi, Sep 22 (PTI) The Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers Ltd was subscribed 13 per cent on the first day of subscription on Friday.
The IPO received bids for 12,22,128 shares against 91,20,664 shares on offer, as per NSE data.
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The category for retail individual investors was subscribed 25 per cent while the portion for non-institutional investors received 5 per cent subscription.
The IPO has a fresh issue of up to Rs 210 crore and an offer for sale of up to 28,00,000 equity shares.
The price range for the offer is Rs 204-215 per share.
The company mopped up Rs 81.05 crore from anchor investors on Thursday.
The company, a regional jewellery brand in South India, has its presence in Andhra Pradesh and Telangana with 13 showrooms across eight towns and two cities.
The funds raised will be utilised for opening eight new showrooms, inventory for these new stores and general corporate purposes.
Bajaj Capital and Elara Capital (India) are the managers to the offer.
The equity shares are proposed to be listed on the BSE and the NSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)