IPO screener: RBZ Jewellers glitters on retail response

Updated - December 21, 2023 at 07:22 AM.

Distress subscribed 7.15 times; provide closes this day

The RBZ Jewellers public discipline became subscribed 7.15 times on the cease of Day 2 on Wednesday, on heavy investing by as retail investors and HNIs. The ₹100-crore preliminary public providing from RBZ Jewellers that incorporates a cost band of ₹95-100, acquired bids for five.65 crore shares, as against an provide of Seventy nine lakh shares. The topic will shut this day and the market lot is 150 shares.

The provide, a contemporary issuance of 1 crore shares, is being made to finance the working capital requirements and for overall company applications. 

Subscription info

The retail investors’ fragment became subscribed 13.14 times and that for of non-institutions quota by 3.49 times. The QIB quota remained muted at 0.05 times.

While 35 per cent of the provide has been is being reserved for qualified institutional investors, 30 per cent has been reserved is for non-institutional bidders and the final st 35 per cent is for retail investors.

Anchor investors

As share of the IPO, RBZ Jewellers On Monday the firm garnered ₹21 crore from anchor investors. It The firm advised the bourses that it had by allocating 21 lakh shares at ₹100 a fragment to three anchor investors -- PGIM India Equity Boost Opportunities Fund, BOFA Securities Europe SA and Negen Undiscovered Cost Fund.

About RBZ Jewellers

RBZ Jewellers specialises in designing and manufacturing a various vary of vintage bridal gold jewellery, including which consists of jadau, Meena, and Kundan work, which it sells it on both a wholesale and retail foundation. It also processes and supplies Antique Bridal Gold Jewellery on job work foundation to nationwide shops.

The firm RBZ Jewellers, which has full control over the total value chain and hasa customer shameful within the wholesale alternate, which entails reputed nationwide, regional, and native household jewellers across 20 states.
It intends to create a solid footprint in Southern India as South India that accounts for 41 per cent of the total jewellery request of in India.

At its The firm owns a contemporary gold jewellery manufacturing facility on the Sarkhej Gandhinagar Freeway, Ahmedabad, it that undertakes. The facility lets in them to designs and manufactures gold jewellery beneath one roof. 
RBZ Jewellers operates its retail showrooms beneath the logo identify “Harit Zaveri” and is a longtime participant in Ahmedabad, Gujarat.

For the six months ended September 30, the firm posted a earnings of ₹125.46 crore and a earnings-after-tax of ₹12.09 crore.

Arihant Capital Markets Ltd is the one real guide-running lead supervisor and Bigshare Services Pvt Ltd is the registrar to the Distress. The equity shares are proposed to be listed on the principle board of both the BSE and NSE.

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