PNN

Chennai (Tamil Nadu) [India], September 7: Chennai-based Manoj Jewellers Limited is an experienced company engaged in the wholesale and retail jewellery business in Tamil Nadu. The company is raising Rs. 1,797.13 lakh through a rights issue. The Business Remedies team has gathered information from the company's rights issue prospectus on its business activities, financial performance, promoters' experience and details, significance of the rights issue and other related aspects. 

Business activities:

Originally incorporated in 2007 and converted into a public limited company in 2022, Manoj Jewelers Limited is engaged in the wholesale and retail business of jewelry and ornaments made of gold, diamonds and silver, embellished with precious and semi-precious stones. The company's portfolio includes gold jewellery, Kundan jewellery, diamond jewellery, gold bars, gold coins and silver jewellery, which are sold on a wholesale and retail basis through two showrooms located in Chennai (Sowcarpet and Kilpauk). All products bear the hallmark of an assay and hallmarking centre recognised by BIS.

The company's equity shares have been listed on the SME platform of BSE Limited (BSE SME) since May 12, 2025. In January 2026, the company launched lightweight temple jewellery under its Thanga Kovil Collection, which is up to 80 percent lighter than traditional jewellery. The company has also applied for trademark registration of the word marks "Thanga Kovil Collections" and "Swarnaora" for its new product. The company's products range from 1 gram to 80 grams of jewellery.

Currently operating through two premium showrooms in Sowcarpet and Kilpauk, Chennai, the company is a well-known name in the retail and wholesale business of pure gold, Kundan, diamond and silver jewellery. To mitigate the risk arising from fluctuations in prices, the company leverages its long experience and maintains gold and silver inventory as per orders.

Financial performance:

On the financial front, Manoj Jewellers Limited has recorded a strong performance over the past year. In financial year 2024-25, the company's revenue from operations stood at Rs. 5,961.81 lakh, which increased sharply by approximately 91.5 percent to Rs. 11,416.12 lakh in financial year 2025-26. During the same period, the company's net profit after tax also nearly doubled from Rs. 476.49 lakh to Rs. 902.36 lakh, while earnings per share (EPS) increased from Rs. 7.96 to Rs. 10.40. The company's net asset value per share increased from Rs. 24.28 to Rs. 43.25.

In view of the company's strong financial position and the oversight of an independent agency such as CARE Ratings Limited, market experts consider this rights issue to be an important step for the company's future growth.

Promoter Experience

Manoj Kumar, aged 51, is the promoter and Managing Director of the company. His educational background includes passing secondary education from the Government Examination Department of Madras in 1992. He has been associated with the company since its inception and has been serving as the Managing Director for a five-year term since July 16, 2022. He has more than 18 years of experience in the jewellery business. Currently, he oversees the company's overall management and marketing activities, reflecting his important role in guiding the company's strategic direction and operational initiatives.

Sunil Shantilal, aged 43, is the promoter, Director and CFO of the company. He completed his secondary education from the Matriculation Board of the Government Examination Department in Chennai in 1999. He has been a member of the Board since the company's inception and has more than 18 years of experience in the jewellery business. Currently, he is responsible for the company's overall financial management, day-to-day activities and operations.

Rights issue details: Manoj Jewellers Limited has announced a rights issue of Rs. 1,797.13 lakh on the stock exchange to meet its business expansion and working capital requirements. The Chennai-based jewellery company, listed on the BSE SME platform, has fixed the rights entitlement for its shareholders in a 1:1 ratio, meaning that investors will be eligible to purchase one new share for every one share held by them as on the record date. Under the issue, equity shares having a face value of Rs. 10 per share are being issued at a price of Rs. 20 per share, including a premium of Rs. 10. As per the timeline announced by the company, the record date for the rights issue was fixed as August 21, 2026, while the issue opened for investment on August 31, 2026, and investors can apply until September 29, 2026. The allotment of shares will take place on September 30, followed by the listing of the new shares on October 5, 2026. The company will use a major portion of the funds raised through the rights issue to meet its day-to-day business expenses and working capital requirements. According to the financial documents, Rs. 1,353.23 lakh out of the total amount has been earmarked for working capital, while Rs. 400 lakh will be utilised for general corporate purposes and Rs. 43.90 lakh towards issue-related expenses. In addition, the promoters of the company have confirmed that they will subscribe up to 17 percent of their Rights Entitlements in the Issue. In case of undersubscription in the Rights Issue, they will subscribe to the unsubscribed portion to the extent required to meet the minimum subscription criteria of 90 percent of the total issue size, subject to the aggregate shareholding of the Promoters and Promoter Group remaining compliant with the minimum public shareholding requirements under the Securities Contracts (Regulation) Rules, 1957 and the SEBI LODR Regulations.

Note: This article is not investment advice.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)