Manoj Vaibhav Gems ‘N’ Jewellers shares flat on debut; Should you hold or book profit-

Manoj Vaibhav Gems ‘N’ Jewellers shares saw a flat opening on the bourses on Tuesday. The share debuted on the NSE at Rs 215, which was the same as the IPO issue price of Manoj Vaibhav Gems ‘N’ Jewellers.

“The IPO received a muted response, and it was subscribed to only 2.25 times. This could be due to a number of factors, including the high IPO price, the company’s relatively small size, and the competitive jewelry market. Overall, the listing of Manoj Vaibhav Gems and Jewels was in line with expectations. Investors who received allotments in the IPO should consider exiting their position,” said Shivani Nyati, Head of Wealth, Swastika Investmart.

Also Read

JSW Infrastructure: Strong debut, lists over 20% premium; Should you hold or book profit?

Manoj Vaibhav Gems ‘N’ Jewellers IPO opened for public subscription on Friday, September 22, 2023 and closed on Tuesday, September 26, 2023. The IPO comprised a fresh issue of 9,767,442 shares aggregating up to Rs 210 crore and Offer for Sale of 2,800,000 shares aggregating up to Rs 60.20 crore. The price band for its public issue at Rs 204-215 per equity share of face value of Rs 10 each. Manoj Vaibhav Gems ‘N’ Jewellers IPO was subscribed 2.33 times. The portion for non-institutional investors received a 5.40-time subscription, QIB category was subscribed 1.08 times, and the Retail Individual Investors (RIIs) quota was subscribed 1.73 times.

Interarch Building Products makes stellar debut, lists at Rs 1,299 on NSE Market rally leads to higher regulatory fees for stock exchanges LCA Tejas shines in Tarang Shakti Exercise: A milestone for indigenous aircraft Ola Electric shares jump over 16% after flat listing

Also Read

IPO Scorecard for September 2023; Track gains since listing

They are a hyperlocal jewellery retail chain with a presence in the micro-markets of Andhra Pradesh and Telangana, with 13 showrooms (inclusive of two franchisee showrooms) across 8 towns and 2 cities. They had a market share of 4% of the overall Andhra Pradesh and Telangana jewellery markets and ~10% of the organised market in these two states in FY2023.

Related Posts

Minecraft Native PS5 Version Teased Alongside Major Game Changes

In honor of Minecraft’s 15th anniversary, Mojang released a blog post revealing how the studio plans to support the game in the future. This includes bringing in…

One Of The Best Puzzle Games Ever Is Coming To Switch Online

Nintendo continues to build up the Switch Online library game by game, or in this case, tetrimino by tetrimino. The original Tetris for NES will arrive on…

Amazon Prime Subscribers- Get 2 Months Of AMC Plus For $1 Right Now

Amazon Prime members can snag a great deal right now on AMC+, the network’s growing streaming service. Until May 23, Prime subscribers can get two months of…

Ariana Grande Skin Is Live In Fortnite

Between the Ariana Grande skin, the Rift Tour, and free cosmetics for players all happening this weekend, Epic Games is gearing up for one of Fortnite’s biggest…

Best Mass Effect- Legendary Edition Deals And Discounts On Release Day (Xbox, PC)

Mass Effect: Legendary Edition released today, May 14, on Xbox, PS4, and PC, letting longtime fans experience the acclaimed sci-fi RPG trilogy all over again while offering…

Fallout's Ella Purnell To Star In Horror-Comedy About Killer Squirrels

Ella Purnell, who stars on Prime Video’s Fallout and is coming back for its upcoming Season 2, is also lined up to star in a comedy-horror about…