RBZ Jewellers IPO allotment: Check application status, latest GMP and listing date

RBZ Jewellers is scheduled to announce the basis of allotment of its shares most likely on Friday, December 22. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or latest by Tuesday. The primary offering of the gold jewellery manufacturer had received a decent response from the bidders.

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 Rs 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.

Grey market premium (GMP) of RBZ Jewellers is not commanding any premium in the grey market, ever since the bidding for the issue kicked off. Ahmedabad-based RBZ Jewellers operates its retail showroom under the brand name 'Harit Zaveri', whose wholesale clientele comprises esteemed national, regional, and local family jewellers across 19 states and 72 cities in India.

The issue was widely tracked among the analysts but those having coverage mostly suggested subscribing to subscribe it with a word of caution citing its consistent financial growth, rising top- and bottom-line figures. However, volatility in the gold price, dependence on a limited number of clients, the absence of in-house artisans and intense competition are the key risks for the company.

Arihant Capital Markets is the exclusive book running lead manager for the RBZ Jewellers IPO, and Bigshare Services serves as the registrar for the issue. Shares of the company will be listed on both BSE and NSE, with December 27, Wednesday, as the tentative date of listing.

Investors, who bid for the issue of RBZ Jewellers, can check the allotment status on the BSE website's IPO application check page. Check-in equity, under the issue type and select RBZ JewellersLimited in the dropbox; type-in the application number and add the PAN card number before checking-in at 'I am not a Robot' before hitting the submit button.

Allotment status can also be checked through the online portal of Bigshare Services, the registrar to the issue. Visit the web portal of Bigshare Services and select the IPO of RBZ Jewellers. Enter the required details such as PAN card number, application number or DP client ID as selected tab and hit 'search' to get the allotment status.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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