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Manoj Vaibhav Gems 'N' Jewellers Limited IPO Message Board (Page 12)

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60. Crow |   Link |  Bookmark | September 24, 2023 2:22:55 PM
IPO Mentor IPO Mentor (900+ Posts, 1100+ Likes)
Prima facie, for next week's IPOs, priority according to the quality of businesses is:

Valiant Laboratories
JSW Infrastructure
Manoj Vaibhav
Plaza Wires
Updater Services

(Note this is NOT Based on GMP or potential listing gain nor a recommendation.)
Always in restraint of Mrs. Crow.
60.1. UjwalG |   Link |  Bookmark | September 24, 2023 2:51:00 PM
IPO Guru IPO Guru (1300+ Posts, 600+ Likes)
Allotment wise easy ipo
1. Jsw
2.Manoj Vaibhav
3. Valiant
60.2. IPO mining |   Link |  Bookmark | September 24, 2023 11:40:03 PM (200+ Posts)
SME line up is superb ... Funds o funds ...
59. Pbdrajkot |   Link |  Bookmark | September 24, 2023 8:40:40 PM (200+ Posts)
IS THERE ANY GREY RATE ? ANY KOSHTAK ?
58. abc xyz |   Link |  Bookmark | September 24, 2023 7:12:38 PM
IPO Guru IPO Guru (1400+ Posts, 1400+ Likes)
Here Bigshare is there not Link in time.
Till the time Bigshare haven't completed allotment process for T+3 listing.
Hope Bigshare will also follow Linkintime so that one can participate in maximum numbers of ipos in rainy season of ipos.
57. B.M.SURANA |   Link |  Bookmark | September 24, 2023 9:24:08 AM
IPO Guru IPO Guru (2700+ Posts, 5300+ Likes)
Manoj Vaibhav
Jodhpur Beawar Raipur
GMP
₹15/= - ₹16/=
Subject to
SHNI application
10k - ₹11k
57.1. B.M.SURANA |   Link |  Bookmark | September 26, 2023 11:13:36 AM
IPO Guru IPO Guru (2700+ Posts, 5300+ Likes)
Jodhpur Beawar Raipur
GMP
₹9/= ₹10/=
HNI APPLICATION
SUBJECT TO
9k 10k
56. YBPK |   Link |  Bookmark | September 23, 2023 11:55:00 PM
Top Contributor Top Contributor (200+ Posts, 700 Likes)
AP and Telengana focussed jewellery company with 11 own and 2 franchisee showrooms
Steady 18-19% revenue growth over last 2 fiscal. Q1FY24 may seem flat however major growth usually comes in 2nd half of fiscal. While Vizag store contributes 64% of revenue, its share of total sales is reducing every year and with opening of new showrooms will decline further de-risking growth.
YoY EBITDA margin has improved from 6.2% to 7.1%. For Q1FY24, it was 7.34%. Revenue per sqft / day @ Rs 550/560 was slight better than Kalyan Jewellers but lower than GRT/Titan/Thangamayil/TBZ/Joyalukkas.
Company spends 0.44% of revenue on promotions, much less than 0.90-1% spend by the bigger players. Expect this to go up as competition increases.
Gross margin is 13.5% for Q1FY24, against 13.22% for 22-23 and 12.46% for 21-22. For Senco & Thangamayil, it is 12%.
Inventory turnover ratio is low at 2 compared to 4 for Senco and 3.5 for Thangamayil. Any improvement here will be a positive rerating for the company.
Bank borrowings seem to be in the range of 9 to 11%. Promoter has provided unsecured interest free loan of Rs 45 cr to the company.
Around 14-18% of material purchases are from related party (Q1FY24 and 22-23). Presume these would have happened at arm length pricing.
Decent cash flow from operations. As with peers, YoY increase in inventory eats up major part of operating free cash flow.
Companies has 2 investment properties valued at Rs 19.72 cr which have market value of Rs 29.7 cr. Presume this will be disposed off some time as property investment is not the core business area.
Relatively clean balance sheet. Other expenses in line with revenue movement.
Hedging process followed by company, if any, not disclosed in RHP.
2 EPFO registrations, at Rajahmundry and Vizag. Company deposited PF of 989 employees for Aug-22 and 937 employees for Aug-23. Company disclosed it has 895 employees as on 15-Agu-23.
Attrition rate increased to 27% in 22-23 against 21% in previous year. Attrition rate among marketing & operations was 33% against 22% in previous year. Whether this is a sign of performance pressure or something else, is not known.
Of the IPO proceeds, company will set up 8 new showrooms @ Rs 21.5 cr per showroom of which Rs 20 cr / showroom will be used for stocking inventory.
Gontla Rakhal, son in law of chairperson and COO of the company, is also a he is a Partner in Gontla Subbarayadu Chetty & Sons partnership firm. Wonder how he is multitasking and contributing to the company.
Post IPO book value will be around Rs 115 and at IPO price of Rs 215, price to book will be little less than 2.
Decent anchor book. Most of the anchors are generally associated with SME IPO.
55. bharatbhai |   Link |  Bookmark | September 23, 2023 11:22:52 PM
T - 3 listing?
54. Rajan Patadiya |   Link |  Bookmark | September 23, 2023 9:03:17 PM
How to sell shares at listing price itself? I have zerodha
54.5. Jetha Lal |   Link |  Bookmark | September 24, 2023 9:35:07 PM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
@MKS IND IPO Ji,
Check on NSE website between 9:00 am to 9:44 am.
https://www.nseindia.com/market-data/pre-open-market-cm-and-emerge-market
54.6. PUSHPaa |   Link |  Bookmark | September 24, 2023 10:21:53 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@MKS IND IPO If u use zerodha below the orders u can find 'OPEN price' option
It is nothing but equilibrium price..,
The price changes according to buy and sell orders no need to go NSE link..
53. R R Patel |   Link |  Bookmark | September 23, 2023 5:55:47 PM
IPO Mentor IPO Mentor (800+ Posts, 3400+ Likes)
Allotment chances:
Retail-63747 applicant will get 69 shares each
BHNI - 651 applicant will get 966 shares each
SHNI - 1302 applicant will get 966 shares each
53.3. RokdaMaker |   Link |  Bookmark | September 23, 2023 7:27:40 PM (200+ Posts)
What are the expected subscription figures?
53.4. Tejas Pandya |   Link |  Bookmark | September 23, 2023 8:53:29 PM
IPO Guru IPO Guru (3600+ Posts, 2800+ Likes)
@R R Patel Good info please keep sharing 👍🏻..
52. Azithromycin |   Link |  Bookmark | September 23, 2023 8:26:33 PM
Latest gmp please...
51. newgen consultancy |   Link |  Bookmark | September 23, 2023 8:32:20 AM
IPO Guru IPO Guru (3400+ Posts, 6600+ Likes)
Strict instruction ( Advice )

Don't SHORT Vaibhav Jewellers in Grey
51.4. SONMAYA |   Link |  Bookmark | September 24, 2023 8:07:44 PM
IPO Guru IPO Guru (1300+ Posts, 500+ Likes)
Thanks NEWGEN Sirji...🙏
51.5. NEXT BIGBULL |   Link |  Bookmark | September 24, 2023 8:54:09 PM
Thanks sirji for your kind words💫
50. Anupam singh |   Link |  Bookmark | September 22, 2023 3:13:26 PM (200+ Posts)
In my 2 years journey of investment in market, i dont think i saw total 12 Ipo (9 SME + 3 Main) open for subscription at same time, on 25 Sep total 12 ipo available for subscription.
if anybody remember the same please correct me.
#ipo_era
50.3. G profit |   Link |  Bookmark | September 23, 2023 12:45:56 AM
IPO Mentor IPO Mentor (1200+ Posts, 300+ Likes)
Very much true.
50.4. Anupam singh |   Link |  Bookmark | September 24, 2023 2:17:59 PM (200+ Posts)
@rajaipo yes I am new, but can you tell me the year and month in which 75 IPOs open at the same time?
It's sound ridiculous.

No company take this type of risk of their first step to entering the market,

It's like a 10-12 High budget Bollywood films releasing on same day.
49. Kala Ghoda |   Link |  Bookmark | September 22, 2023 11:42:09 AM
-->A leading regional jewellery brand in South India led by first-generation woman entrepreneur
--> 14% market share of the organised jewellery market in Andhra Pradesh & Telangana
--> 5% market share of overall jewellery market in Andhra Pradesh & Telangana
--> Commanding a revenue per store of 150Cr compared to the peers Thangamayil (60Cr), TBZ (60Cr), Kalyan (100Cr)
--> Consistent EBITDA margins of (7.3%) compared to the peers ranging in 4-6%
--> PAT Margins in line with the likes of Kalyan and Senco Gold (3.5%-4%)
--> Very decently valued (15x) compared to the peers like Kalyan (45x), TBZ (15x), Senco (24x), Thangamayil (27x)
--> Anchor book looks to have participated in the issues which have fared well in the past and good listing gains.

Any views are highly appreciated?
49.4. G profit |   Link |  Bookmark | September 23, 2023 12:43:47 AM
IPO Mentor IPO Mentor (1200+ Posts, 300+ Likes)
Good analysis. But myself waiting for last date to take a call.
49.5. Sanch |   Link |  Bookmark | September 23, 2023 8:48:50 AM
@Kala Ghoda 
Excellent analysis and eye opener for me. "Consistent EBITDA margins of (7.3%) compared to the peers ranging in 4-6%
--> PAT Margins in line with the likes of Kalyan and Senco Gold (3.5%-4%)"... Good to know that Indian Jewelry industry survives with such low EBITDA and PAT.
48. Gulsan |   Link |  Bookmark | September 22, 2023 10:34:03 PM
Live GMP -21 @ 9:20 🔥
48.1. Kala Ghoda |   Link |  Bookmark | September 23, 2023 12:01:23 AM
-21 or 21?
47. Tindu Mindu |   Link |  Bookmark | September 22, 2023 10:58:46 PM (300+ Posts)
@Jetha Lal Ji, what's your review about this ipo ? Eagerly waiting for your analysis. 🙏
47.1. Jetha Lal |   Link |  Bookmark | September 23, 2023 11:39:43 AM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
@Tindu Mindu Ji
I have already written about this company in detail covering all the important points.
My view about this company is for listing gain and maybe for short term depending on QIB demand.
I am not in this for long term. I am already holding SENCO since IPO.
46. Pangaj Don't be like me |   Link |  Bookmark | September 22, 2023 2:53:22 PM (300+ Posts)
Hi @lokes , @abc xyz @newgen consultancy and others who has similar experience.

I have been watching this forum for the last 2 to 3 months. But this is my first comment.
I am not good at English, sorry for that.

I am in big trouble(I made a big mistake in my life) and Help me to solve all this issue.
I am from a poor farmer family and now somewhat earning good money.

Last year I liked one house and planned to purchase the same house using home loans.At that time I got a call from Shriram finance and they told me you can get the loan using policies like.
They asked me to take 2 policies and they told me they are processing the loan(based on their commitment I gave "X" amount to the house owner as advance).
I have kept on calling. They told me it is in progress and you will get a loan as soon as possible.
After 3 months I got a call from the Shriram loan department and they said your loan is in progress and next week you will get your loan amount like that.
but i didn't get any loan even after two weeks. when i call to insurance guy.He told your loan amount is high you need to take one more policy and he given commitment like after loan credited in my account. we can cancel this policy like that.
as i already gave my amount to the house owner. I didn't have any other option and took one more policy.
After that I also didn't loan. When I called that number another lady answered the phone and told the person who took my policies in medical leave.

Now this lady is saying you will get the loan as soon as possible.

Now the policy renewal date approached.

It looks like they have cheated me with good drama(while taking the policy they told don't say you are taking a policy for loan) . I know this is full of my mistakes. Now I want to get out of this trouble.

I am also not able to sleep because of these issues.

Not able to write the whole story because of time.

Now how can i cancel all this policy and get the full amount.

I know it is full of my mistakes. I lost my life hope also because of this issue.
total policy amount will come around:4.5 lakhs.
46.24. raj kk |   Link |  Bookmark | September 26, 2023 11:20:44 AM
I am Sr Executive in Life Insurance.
You hav 2 issues
1.Insurance
2.Housing Loan Saction.
3.House Owner

1. Insurance
Pl check the date of receipt of your policy Bonds for
A. Cooling off to get back money
B. To check the policy details & continue if the terms n ins cover are okbwith you.
C. To lodge complaint with IRDAI
HOUSING LOAN
Fact is both is independent but most companies suggest/ demand ins for our/their security.
First visit the office physically, meet the higher officials & lodge a complaint.
3.House Owner
Pl explain the issue & if u like the house continue dialogue with him.
Best wishes
46.25. Thiagarajan Ramasamy |   Link |  Bookmark | September 26, 2023 11:52:39 AM
Top Contributor Top Contributor (700+ Posts, 200+ Likes)
This is a classic case of mis selling of Insurance Policies by Agents driven hard by their bosses to achieve targets. They lure the potential Investors with half truths and untruths. We only have to be very careful. IRDAI the Governing Body must take stringent action against such wrong doings of the Companies concerned.
My sympathies are with you. Wish you to get back your hard earned money somehow.
45. Np patel |   Link |  Bookmark | September 22, 2023 4:48:36 PM (300+ Posts)
@newgen consultancy Hello sir, i remember you were discussing GMR few day ago, Can you please advise why it is hitting lower circuits after few upper circuits?
45.1. newgen consultancy |   Link |  Bookmark | September 22, 2023 6:25:55 PM
IPO Guru IPO Guru (3400+ Posts, 6600+ Likes)
It's due to excess supply
Nothing else
Can hold it
Hope you are sitting on big profits
45.2. Np patel |   Link |  Bookmark | September 22, 2023 8:44:52 PM (300+ Posts)
@newgen consultancy No i am not making good money in this one that's why i asked if i can add more if it go down more next week?

Also will be you able to suggest more options in secondary market?
44. PHARROAD WALE BABAJI |   Link |  Bookmark | September 22, 2023 3:19:46 PM
Manoj Vaibhav ( Gems Nahi ] ko IPO Extend howela ke ? Yaa Withdraw?
44.1. Bhukar |   Link |  Bookmark | September 22, 2023 6:34:07 PM
What are you thinking. It’s gem and in this bullish IPO market Yatra like IPO ne yatra puri kar li.
43. Naughty ipo |   Link |  Bookmark | September 22, 2023 2:27:30 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Poor response from retailer..
43.1. Prince 🤴 |   Link |  Bookmark | September 22, 2023 6:25:34 PM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
Wait for last date allotment will be tough.
42. newgen consultancy |   Link |  Bookmark | September 22, 2023 2:01:55 PM
IPO Guru IPO Guru (3400+ Posts, 6600+ Likes)
Opening GMP : 10
41. GrayIsTheNewBlack |   Link |  Bookmark | September 22, 2023 1:27:39 PM
IPO Guru IPO Guru (2700+ Posts, 1800+ Likes)
Historically it has been better to stay away from Jewelry related stocks.

I know people will now start pointing out TITAN, that is one of the few exceptions.
Most of the companies in this sector have eroded investor wealth.
41.6. GrayIsTheNewBlack |   Link |  Bookmark | September 23, 2023 7:08:15 PM
IPO Guru IPO Guru (2700+ Posts, 1800+ Likes)
@MITTAL Ji, Investor wealth long term me banti hai.
Bull market me to gadhe bhi daudte hai.
My comment was from long term perspective where majority of the jewellery sector companies have failed to build that wealth for investors.
And I clearly mentioned there can be few exceptions.

To aap bhi senior member ki tarah behave kare, bina matlab pange na le 🙏
41.7. Asoke sarkar |   Link |  Bookmark | September 23, 2023 7:44:25 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
​@ Grayls ...
You are absolutely right. There is similar discussion in the Senco gold page how such companies have befooled investors. Certainly these are not for long term investment.
But an IPO has a different dynamism . It looks good as an ipo as yet.
Thank you