Manoj Jewellers, a Chennai-based company, has opened its SME IPO today, May 5, 2025, inviting investors to be a part of the company's future growth. The IPO will be open for subscription till May 7, 2025, and shares are likely to be listed on the BSE SME platform on May 12, 2025.
Key Details of Manoj Jewellers IPO
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Issue Size: ₹16.20 crore by way of a fresh issue of 30 lakh equity shares.
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Price: At a fixed price of ₹54 per share.
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Lot Size: Minimum of 2,000 shares (1 lot), which will involve an investment of ₹1,08,000 for retail investors. High Net-Worth Individuals (HNIs) are required to apply for a minimum of two lots (4,000 shares), totaling ₹2,16,000.
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IPO Dates: Opens on May 5, closes on May 7. Allotment on May 8, refunds on May 9, and listing on May 12.
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Lead Manager: Jawa Capital Services; Registrar: Skyline Financial Services; Market Maker: Shreni Shares.
Company Overview
Manoj Jewellers, founded in 2007, is famous for its retail operation in gold and diamond jewellery selling BIS-hallmarked products like rings, necklaces, bangles, earrings, pendants, bracelets, and gold coins. Its flagship showroom functions from NSC Bose Road, Sowcarpet, Chennai, and satisfies both traditional and modern tastes. The company is renowned for its quality, reasonable prices, and prompt delivery with the assistance of a lean organization of 14-16 personnel as of April 2025.
Financial Performance
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FY24 Revenue: ₹43.38 crore (from ₹13.64 crore in FY23).
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FY24 Net Profit: ₹3.24 crore (from ₹0.62 crore in FY23).
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Nine-month FY25 Profit (as of Dec 2024): ₹3.77 crore.
IPO purpose: The greater part of the proceeds (₹13.23 crore) will go towards repayment or prepayment of borrowings, and the remainder (₹1.67 crore) towards general corporate purposes. This should alleviate debt and strengthen the balance sheet of the company.
Grey Market Premium (GMP) and Market Sentiment
As of 2nd May, 2025, the Grey Market Premium (GMP) of Manoj Jewellers IPO is ₹0, reflecting hopes of a flat listing at issue price of ₹54 per share. Although the company's recent financial performance is promising, caution is suggested by some market experts considering the very competitive nature of the jewellery sector.
Promoters
The company is sponsored by S Manojkumar, Raj Kumari M, S Sunil, and Shalu.
Key Dates
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IPO Opens: May 5, 2025
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IPO Closes: May 7, 2025
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Finalisation of Allotment: May 8, 2025
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Refunds commenced: May 9, 2025
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Listing Date: May 12, 2025
Sources: Economic Times, Angel One, Finowings, IPO Watch, Moneycontrol, Univest
