RBZ Jewellers IPO Day 1: Issue Fully Subscribed in First Few Hours

19 Dec 2023 , 01:03 PM

RBZ Jewellers, the Ahmedabad-based gold jewellery manufacturer, has witnessed active investor participation as its initial public offering (IPO) opened for subscription on December 19, closing on December 21. Click here to subscribe the IPO.

As of 12:54 PM, the RBZ Jewellers IPO received bids for 87,06,750 shares, surpassing the total available for subscription at 79,00,000 shares. The overall subscription reached 1.10 times. Notably, the retail portion of the IPO has been strongly subscribed, with a demand of 2.35 times. However, the Qualified Institutional Buyers (QIB) portion remains undersubscribed, while the Non-Institutional Investors (NII) portion received 0.16 times subscription.

RBZ Jewellers has allocated shares in the IPO with a reservation of not more than 50% for QIBs, a minimum of 15% for NIIs, and a minimum of 35% for retail investors.

The IPO garnered notable attention after securing Rs 21 crore from anchor investors on December 18. With a price band set at Rs 95 to Rs 100 per equity share, the IPO has a lot size of 150 equity shares and is available in multiples of 150 equity shares thereafter.

Investors can apply for RBZ Jewellers IPO in lots of 150 equity shares and multiples thereof. The equity shares are proposed to be listed on the BSE and NSE main boards.

Bigshare Services Private Limited is the registrar for the RBZ Jewellers IPO, while Arihant Capital Markets Limited serves as the sole book-running lead manager.