Manoj Jewellers Surges 4%; Launches Rs 1,797.13 Lakh Rights Issue

On Monday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 115.05 points, or 0.48 per cent, to 23,782.65. Amid the market movement, Manoj Jewellers Limited share price rose 3.85 per cent to Rs 27 after investors remained focused on the company's ongoing Rs 1,797.13 lakh rights issue, which will remain open for subscription until September 29, 2026.

Rights Issue Priced at Rs 20 Per Share

Manoj Jewellers has fixed the rights entitlement ratio at 1:1, meaning eligible shareholders can apply for one new equity share for every one share held as on the record date. The shares are being offered at Rs 20 each, comprising a face value of Rs 10 and a premium of Rs 10 per share. Through the issue, the company plans to raise a total of Rs 1,797.13 lakh.

Based on the issue size and offer price, the fundraise represents approximately 89.86 lakh equity shares.

The issue opened for subscription on August 31 and will close on September 29, 2026. The company has scheduled the allotment of shares for September 30, while the newly issued shares are expected to be listed on the exchange on October 5, 2026.

Majority of Proceeds Earmarked for Working Capital

A substantial portion of the rights issue proceeds will be deployed towards the company's working capital requirements. Out of the total Rs 1,797.13 lakh proposed to be raised, Manoj Jewellers has earmarked Rs 1,353.23 lakh for working capital. Another Rs 400 lakh will be used for general corporate purposes, while Rs 43.90 lakh has been allocated towards expenses associated with the rights issue.

The working capital allocation assumes importance for a jewellery business, where maintaining adequate inventory forms a key part of day-to-day operations. The company operates in both the wholesale and retail segments and maintains gold and silver inventory in line with orders while managing the impact of fluctuations in precious metal prices.

Promoters Commit to Participate in Rights Issue

The company's promoters have also indicated their intention to participate in the fundraise. They have confirmed that they will subscribe to up to 17 per cent of their Rights Entitlements in the issue. In the event of undersubscription, the promoters have also agreed to subscribe to the unsubscribed portion to the extent required to achieve the minimum subscription level of 90 per cent of the total issue size.

Such subscription would remain subject to the aggregate holding of the Promoter and Promoter Group continuing to comply with minimum public shareholding requirements under applicable regulations.

Revenue Jumps Over 91 Per Cent in FY26

The rights issue comes after a sharp improvement in Manoj Jewellers' financial performance during FY26. Revenue from operations increased from Rs 5,961.81 lakh in FY25 to Rs 11,416.12 lakh in FY26, translating into YoY growth of approximately 91.5 per cent. Profit after Tax also rose strongly, increasing from Rs 476.49 lakh to Rs 902.36 lakh during the same period. This represents YoY growth of approximately 89.4 per cent. The company's net asset value per share also increased from Rs 24.28 to Rs 43.25, registering growth of around 78.1 per cent.

The fundraise, therefore, comes at a time when the company has reported a sizeable expansion in both revenue and profitability.

Two Chennai Showrooms Drive Jewellery Operations

Manoj Jewellers was originally incorporated in 2007 and was subsequently converted into a public limited company in 2022. The company sells jewellery through two showrooms located in Sowcarpet and Kilpauk in Chennai. Its portfolio includes gold jewellery, Kundan jewellery, diamond jewellery, gold bars, gold coins and silver jewellery. Its products range from jewellery weighing around 1 gram to 80 grams and are sold across both wholesale and retail channels. The jewellery products carry hallmarks from an assay and hallmarking centre recognised by the Bureau of Indian Standards.

In January 2026, the company also introduced lightweight temple jewellery under its Thanga Kovil Collection. According to the information provided, the collection is up to 80 per cent lighter than traditional jewellery.

The company has applied for trademark registration for the word marks "Thanga Kovil Collections" and "Swarnaora" in connection with its product portfolio.
Also Read - Novartis India Acquires Minipress Trademarks for Rs 1,250,00,10,000; Know More

About the Company

Manoj Jewellers Limited is a Chennai-based jewellery company engaged in the wholesale and retail sale of gold, Kundan, diamond and silver jewellery, along with gold bars and coins. It operates two showrooms in Sowcarpet and Kilpauk, Chennai. The company's equity shares have been listed on the BSE SME platform since May 12, 2025, and its jewellery portfolio ranges from 1 gram to 80 grams.

Disclaimer: The article is for informational purposes only and not investment advice.