RBZ Jewellers Jewellers IPO to open on December 19; check key details

RBZ Jewellers has announced the price band for its upcoming initial public offering (IPO). The company will be selling shares in the range of Rs 95-100 apiece with a lot size of 150 equity shares. The bidding for the issue will open on Tuesday, December 19 and will close on Thursday, December 21.

Incorporated in April 2008, RBZ Jewellers is an India-based gold jewellery manufacturer specialising in the creation of antique designs. The company designs and manufactures a wide range of antique gold jewellery consisting of jadau, meena and kundan work and sells it on wholesale and retail basis.

The company is looking to raise Rs 100 crore via its IPO, which is completely a fresh share sale of 1,00,00,000 equity shares. The net proceeds from the issue shall be utilized towards funding working capital requirements and general corporate purposes

RBZ Jewellers also operates its retail showroom under the brand name 'Harit Zaveri' and is a leading player in Ahmedabad. The company's wholesale customer base includes reputed national, regional and local family jewellers across 19 states and 72 cities in India. RBZ Jewellers Limited's manufacturing facility in Ahmedabad.

RBZ Jewellers reported a net profit at Rs 12.09 crore with a revenue of Rs 125.52 crore for the period ended September 30, 2023. The company's net profit stood at Rs 22.33 crore with a revenue of Rs 289.63 crore for the financial year 2022-23.

The company has reserved half of the issue or 50 per cent for the qualified institutional bidders (QIBs), while retail investors will get 35 per cent of reservation in the net offer. Remaining 15 per cent of the shares shall be allocated towards non-institutional investors.

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

 

 

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