RBZ Jewellers IPO Subscribed 2.28 Times On Day 1
The IPO is subscribed 2.28 times as of 5 p.m. on Tuesday.
RBZ Jewellers Ltd. opened its initial public offering of Rs 100 crore on Tuesday.
The maiden issue is priced in the band of Rs 95–100 per share. The IPO includes a fresh issue of up to 1 crore shares, with a face value of Rs 10 each. It will conclude on Thursday.
The jewellery maker will use the proceeds for funding the working-capital requirements of the company and for general corporate purposes.
RBZ Jewellers has raised Rs 21 crore from anchor investors and allotted 21 lakh equity shares to three funds at Rs 100 apiece.
IPO Details
Issue opens: Dec. 19.
Issue closes: Dec. 21.
Total issue size: Rs 100 crore.
Price band: Rs 95-100 per share.
Lot size: 150 shares.
Face value: Rs 10 per share.
Listing: BSE and NSE.
Business
The Ahmedabad-based business-to-business company was established in 2008 in Dadra and Nagar Haveli. The company was incorporated as private limited company, but was later converted to a public limited company.
RBZ Jewellers specialises in antique bridal gold jewellery and has a client base spread across 20 states and 72 cities in India. The company operates its retail showroom under the brand name Harit Zaveri and has a manufacturing plant and showroom in Ahmedabad.
Subscription Status: Day 1
The IPO is subscribed 2.28 times as of 5 p.m. on Tuesday.
Institutional investors: 0 times.
Non-institutional investors: 0.71 times, or 71%.
Retail investors: 4.54 times.
