RBZ Jewellers IPO: Total Issue Booked 11.23 Times on Final Day

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 supplies antique gold jewellery on a 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.

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It offers jewellery for bridal, occasional and daily wear at various price ranges in our retail showroom. The company also exports jewellery to the Middle East region.

By 2:14 PM, the IPO had garnered subscriptions of 11.23 times, totaling 8.86 crore shares against the lot size of 79 lakh shares. The retail portion, likewise, witnessed significant buying activity, with subscriptions reaching 7.05 crore shares as opposed to 35 lakh shares available.

The portion allocated for Qualified Institutional Buyers (QIBs) were booked 8 percent resulting in 1.16 lakh shares being subscribed. The NII portion was subscribed 6.11 times as against 30 lakh shares.

Price Band

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.

Anchor 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.

Company Financials

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.