RBZ Jewellers IPO: Check out Price Band & Other Details
by Sandip Das on 19 December 2023, 3 min read
RBZ Jewellers is an organised manufacturer of gold jewellery in India, specializing in antique gold jewellery. It distributes to nation-wide retailers and significant regional players in India.
The firm designs and manufactures a wide range of antique gold jewellery which consists of jadau, Meena and Kundan work and sell it on a wholesale and retail basis.
It also processes and supply antique gold jewellery on job work basis to national retailers. The company also operates its retail showroom under the brand name “Harit Zaveri” and is a leading player in Ahmedabad.
It offers jewellery for bridal, occasional and daily wear at various price range in our retail showroom. The company also exports jewellery to Middle East region. RBZ Jewellers’ retail showroom is situated in Ahmedabad, Gujarat.
The company has established a price band of Rs 95-100 per share for the issue. The IPO solely consists of a fresh issue comprising 1 crore shares, without any offer for sale (OFS) segment included in the public offer.
IPO Reservation Details
RBZ Jewellers IPO has allocated up to 50 percent of the public issue for qualified institutional buyers (QIBs). Additionally, it has reserved a minimum of 15 percent for non-institutional investors (NIIs) and a minimum of 35 percent for retail investors.
The company garnered Rs 21 crore from anchor investors by allocating 21 lakh shares at Rs 100 per share. The distribution of these shares took place among three anchor investors: PGIM India Equity Growth Opportunities Fund, BOFA Securities Europe SA, and Negen Undiscovered Value Fund.
In the six months ending September 30, 2023, the company reported revenues of Rs 125.46 crore. Profit after tax amounted to Rs 12.09 crore.
Book Running Managers:
Arihant Capital Markets will spearhead the book-running management of the IPO. Bigshare Services has received the appointment as the registrar to the offer.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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