RBZ Jewellers fails to woo at debut; stock lists at par with issue price of Rs 100

Shares of RBZ Jewellers Ltd made a flat debut at Dalal Street on Wednesday as the gold jewellery manufacturer debuted at Rs 100, at par at the National Stock Exchange (NSE), against the issue price of Rs 100 apiece. The scrip was listed at the same price on BSE, that is, Rs 100.

Grey market premium (GMP) for RBZ Jewellers has remained steady through, at negligible. The company is not commanding any premium in the official market and the consistency has remained throughout since the announcement of issue. There are no signals for any sort of listing pop for the investors from the RBZ Jewellers's IPO.

RBZ Jewellers sold its IPO in the price band of Rs 95-100 per share with a lot size of 150 shares, which was open for bidding between December 19 to December 21. The company aimed to raise about 100 crore from its primary offering, which entirely included a sale of 10,000,000 fresh equity shares.

The issue was overall subscribed 16.86 times as the portion for qualified institutional bidders (QIBs) was booked 13.43 times, while the non-institutional investors' category was subscribed 9.27 times. The quota reserved for retail investors was subscribed 24.74 times during the bidding process.

RBZ Jewellers, established in April 2008, is an Indian gold jewellery manufacturer specializing in crafting antique designs. The Ahmedabad-based company's repertoire includes a diverse range of antique gold jewellery featuring jadau, meena, and kundan work, sold on both wholesale and retail platforms.

Arihant Capital Markets was the exclusive book running lead manager for the RBZ Jewellers IPO, and Bigshare Services served as the registrar for the issue.

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