The Public Issue, with a face value of ?10 per Equity Share, consists of fresh equity shares worth up to ?210 crore and an Offer for Sale (OFS) of up to 2.8 million equity shares, as per the company's statement.

Vaibhav Jewellers currently operates 13 showrooms in eight towns and two cities, holding a 4% market share in the overall Andhra Pradesh and Telangana jewellery market and a 10% share in the organized market within these two states for the financial year 2023.

The company's flagship showroom in Visakhapatnam, launched in 2007, spans 29,946 sq. ft. Approximately 77% of its retail showrooms are located in Tier-2 and Tier-3 cities. Each showroom offers a diverse and extensive range of gold, diamond, gems, platinum, and silver jewellery or articles. Additionally, its sub-brand, Visesha, caters to a premium segment of gold and diamond jewellery.

For the three months ending June 30, 2023, Vaibhav Jewellers reported revenue from operations of ?508.90 crore and a net profit of ?19.24 crore. In FY-23, its revenue from operations primarily stemmed from the sale of gold jewellery, amounting to ?2,027.34 crore.

Throughout FY-2023, the company's average revenue per retail showroom ranged between ?150 crore to ?160 crore. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) per store averaged ?11.3 crore between FY21-23, witnessing a Compound Annual Growth Rate (CAGR) of 18.92% for revenue and 85.81% for profit after tax (PAT). The company also saw significant growth in its e-commerce sales, surging from ?4.16 crore in FY-19 to ?36.40 crore in FY-23.

Bajaj Capital Limited and Elara Capital (India) Private Limited are serving as the book-running lead managers for the IPO, while Bigshare Services Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on both BSE and NSE.