Manoj Jewellers IPO
- IPO Date05 May, 2025 to 07 May, 2025
- Listing Date12 May, 2025
- Face Value₹10 per share
- Issue Price₹54 to ₹54 per share
- Lot Size2000 Shares
- Minimum Investment₹1,08,000
- Listing AtBSE SME
- Total Issue Size30,00,000 Shares
(aggregating up to ₹16.20 Cr) - Fresh Issue30,00,000 Shares
(aggregating up to ₹16.20 Cr)
- Offer for Sale-
- Issue TypeFixed Price IPO
- Share holding pre issue59,85,628
- Shareholding post issue89,85,628
IPO Dates
Closing Date
07 May, 2025
Initiation of Refunds
09 May, 2025
Listing Date
12 May, 2025
05 May, 2025
Opening Date
08 May, 2025
Basis of Allotment
09 May, 2025
Credit of Shares
Manoj Jewellers Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹1,08,000 |
| Retail (Max) | 1 | 2000 | ₹1,08,000 |
| HNI (Min) | 2 | 4000 | ₹2,16,000 |
Manoj Jewellers Promoter Holding
S Manojkumar, Raj Kumari M, S Sunil and Shalu are the promoters of the company.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 94.99% | 63.28% |
Manoj Jewellers COMPANY INFORMATION
Manoj Jewellers IPO is a fixed price of ₹16.20 crores. The issue is entirely a fresh issue of 30.00 lakh shares. Manoj Jewellers IPO bidding started from May 5, 2025 and ended on May 7, 2025. The allotment for Manoj Jewellers IPO was finalized on Thursday, May 8, 2025. Manoj Jewellers IPO will be list on BSE SME with a tentative listing date fixed as Monday, May 12, 2025. Manoj Jewellers IPO price is ₹54 per share. The minimum lot size for an application is 2000. The minimum amount of investment required by retail investors is ₹1,08,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹2,16,000. Jawa Capital Services Private Limited is the book-running lead manager of the Manoj Jewellers IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.The market maker for Manoj Jewellers IPO is Shreni Shares Limited. Refer to Manoj Jewellers IPO RHP for detailed information.
Incorporated in 2007, Manoj Jewellers Limited is engaged in the retail business of various jewellery and ornaments made out of gold and diamonds studded with precious and semiprecious stones.
They are particularly known for their wide range of gold jewellery that includes items such as earrings, rings, necklaces, bracelets, and pendants.
The company ensures product quality through strict procedures, timely delivery, and competitive prices. It offers regular designs, guarantees on-time delivery, and BIS hallmarked jewellery for customer confidence in purity.
The company offers a range of jewellery, including rings, earrings, pendants, bracelets, necklaces, bangles, and wedding jewellery. It operates a showroom at No. 59, NSC Bose Road, Sowcarpet, Chennai.
Products:
- Gold Jewellery: Specializing in 22KT gold, with a variety of designs, including traditional and modern pieces.
- Silver Jewellery: Offering a range of silver jewellery items, such as earrings, rings, bracelets, pendants, and chains.
- Gold Coins: The company offers gold coins of different weights, including 8-gram coins.
- BIS Hallmarking: All jewellery is BIS-certified, ensuring the authenticity and purity of gold and silver pieces.
As of April 28, 2025, the company has 14 employees.
Competitive Strengths:
- Wide product range
- Experience of the Promoters and senior management team
- Customer Satisfaction
- Quality assurance
Analysis of Manoj Jewellers IPO
Overview of Manoj Jewellers Limited IPO
Manoj Jewellers Limited is a Chennai-based enterprise primarily engaged in the retail and wholesale of gold and diamond jewellery. Their product line spans across rings, bangles, necklaces, earrings, armlets, and other wedding jewellery pieces. The company is preparing to raise ₹1,620 lakhs through its Initial Public Offering (IPO) via a fresh issue of 30,00,000 equity shares at ₹54 per share.
Business Fundamentals and Financial Snapshot
Company Background
Incorporated in 2007, Manoj Jewellers has gradually expanded its presence with two showrooms in Chennai. The business is driven by a vision to provide hallmarked, high-quality jewellery at competitive prices and is backed by seasoned promoters and a professional team.
Key Financial Highlights
The company has displayed strong financial growth over the past three years:
FY 2021–22 Revenue: ₹675.18 lakhs
FY 2022–23 Revenue: ₹1,363.01 lakhs
FY 2023–24 Revenue: ₹4,335.11 lakhs
9M FY 2024–25 Revenue: ₹4,294.76 lakhs
Profit margins and operational efficiency have also shown marked improvement:
EBITDA Margin FY24: 13.19%
PAT Margin FY24: 7.48%
Return on Equity FY24: 39.63%
Purpose of the IPO
Utilization of Proceeds
The IPO proceeds are primarily directed towards:
Repayment/Prepayment of borrowings: ₹1,323 lakhs
General corporate purposes: Remaining amount
This indicates a strong inclination towards debt reduction, suggesting a focus on improving balance sheet health.
Competitive Analysis
Industry Comparison
When benchmarked against listed peers like D.P. Abhushan and Moksh Ornaments:
Manoj Jewellers leads in EBITDA margin (13.19%) and PAT margin (7.48%)
It also boasts a strong current ratio (8.61), indicating high liquidity
However, it has a higher debt-to-equity ratio (1.57) compared to peers like Shubhlaxmi Jewel Art (1.00)
Risk Factors
Key Concerns
Dependency on gold prices and regulatory policies
Limited operational geography (currently only Chennai)
High working capital requirements
No prior public market track record
Pros and Cons
Pros
Strong revenue growth trajectory
Robust profit margins and high ROE
Hallmarked, certified jewellery products increase consumer trust
High liquidity ratio showcasing sound short-term financial health
Cons
High debt (though being addressed via IPO proceeds)
Limited physical presence could constrain expansion
Industry heavily affected by gold price volatility and import regulations
Risk of competition from established national and regional brands
Final Verdict
Manoj Jewellers Limited presents an intriguing IPO proposition. With a history of consistent growth, high profitability, and a strong focus on customer trust and quality, it stands well-poised in the organized jewellery sector. However, prospective investors must be cautious of geographic limitations and sector-specific risks.
FAQs About Manoj Jewellers IPO
Manoj Jewellers IPO will open on 05 May, 2025 and close on 07 May, 2025. Investors must apply within this period to participate.
The Manoj Jewellers IPO price band is set between ₹54.00 and ₹54.00 per share. The minimum lot size is 2000, requiring an investment of at least ₹108000.00.
The Manoj Jewellers IPO shares are expected to be listed on 12 May, 2025, subject to regulatory approvals and final allotment.
You can track your Manoj Jewellers IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Manoj Jewellers IPO will be listed on major stock exchanges such as BSE, where you can trade shares once they are listed.
The ₹54 issue price reflects the company's exponential revenue and profit growth, superior operating margins, and market positioning rather than historical acquisition costs, which do not capture the current value or future potential.
With a current ratio of 8.61, the company holds strong liquidity, suggesting its ability to cover short-term liabilities easily—a positive sign for stakeholders and investors.
Given the company’s consistent performance and plans to reduce debt, long-term investors may find value—particularly if the brand expands its geographic footprint and diversifies offerings.
Manoj Jewellers leverages its niche approach, quality assurance through BIS hallmarking, and competitive pricing strategy. These focus areas help the brand stand out in regional markets.
A significant portion (₹1,323 lakhs) of the IPO proceeds is earmarked for debt repayment, which could improve credit standing and reduce financial burden going forward.
The company’s collection targets both traditional and modern tastes, emphasizing BIS-certified purity and on-time delivery—setting it apart from unorganized players.
While not explicitly stated, the improved financial position post-IPO could enable Manoj Jewellers to explore expansion opportunities in Tier-2 and Tier-3 cities or through online retail channels.