Gold jewellery retailer Manoj Jewellers’ IPO to hit Dalal Street on May 5

Chennai-based gold jewellery retailer Manoj Jewellers will open its maiden public issue for subscription next week on May 5. This will be the third IPO for the month of May, after Srigee DLM, and Wagons Learning. The company with only two showrooms in Chennai plans to raise Rs 16.20 crore via initial public offering (IPO) at a price of Rs 54 per share.

The fixed price issue will close on May 7. The IPO share allotment will be finalised by May 8, and the trading in Manoj Jewellers shares will commence on the BSE SME effective May 12. The company operates the retail and wholesale business of jewellery and ornaments made from gold and diamonds, embellished with precious and semiprecious stones.