RBZ Jewellers files IPO papers with SEBI

19 Jun 2023 , 02:38 PM

Ahmedabad-based RBZ Jewellers files draft IPO papers with the markets regulator, Securities and Exchange Board of India.

As per DRHP, the initial public offer consist fresh issue of up to 1 crore equity shares with no offer-for-sale component. According to multiple market sources, the company aims to raise around 100 crore through the issue. 

The company will be using net proceeds from the IPO towards funding working capital requirements and other general corporate purposes.

The initial public offering (IPO) will be conducted using the book building process. Approximately 50% of the offer will be allotted proportionately to qualified institutional buyers (QIBs), 15% will be reserved for non-institutional bidders, and the remaining 35% will be allocated to retail investors.

Arihant Capital Markets Limited is the sole merchant banker to the issue. The equity shares are proposed to be listed on BSE and NSE.