On the second day of the bidding on December 20, the public issue of RBZ Jewellers witnessed strong demand, garnering a subscription of 3.55 times. Bids were received for 2.80 crore shares against the offer size of 79 lakh shares. Click here to subscribe the IPO.
Among the investor categories, retail investors exhibited significant interest, subscribing 7.05 times, while high net-worth individuals secured 1.11 times of the allotted quota. However, qualified institutional buyers are yet to participate in the subscription.
RBZ Jewellers’ Rs 100-crore IPO consists solely of a fresh issue of one crore equity shares, with no offer-for-sale component. The allocation in the public issue is structured with 35 percent reserved for qualified institutional buyers and retail investors each, while the remaining 30 percent is earmarked for high net-worth individuals (non-institutional investors). The price band for the issue was fixed at Rs 95-100 per share.
The primary utilization of the fresh proceeds will be directed towards working capital requirements amounting to Rs 80.75 crore. The remaining funds, not exceeding 25 percent of the gross proceeds, will be allocated for general corporate purposes.
Arihant Capital Markets serves as the book-running lead manager for the issue, while Bigshare Services is appointed as the registrar to the offer.
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