RBZ Jewellers Sets IPO Price Band at Rs 95-100 per Share, Aiming to Raise Rs 100 Crore

14 Dec 2023 , 10:15 AM

RBZ Jewellers, specializing in the design and manufacturing of antique bridal gold jewellery, has fixed the price band for its initial public offering (IPO) at Rs 95-100 per share on December 14. The company aims to raise Rs 100 crore from the IPO.

Key IPO Details:

• Issue Dates: December 19 to December 21, 2023.
• Price Band: Rs 95-100 per share.
• Anchor Book Opening: December 18, 2023.
• Basis of Allotment: December 22, 2023.
• Initiation of Refunds: December 26, 2023.
• Credit of Shares to Demat: December 26, 2023.
• Listing Date: December 27, 2023.

Offer Structure:

• The IPO comprises a fresh issue of one crore equity shares, with no offer-for-sale component.

Utilization of Funds:

• Of the issue proceeds, Rs 80.75 crore will be allocated primarily to meet working capital requirements.
• The remainder will be utilized for general corporate purposes.

Investment Parameters:

• Minimum Lot Size: 150 equity shares.
• Retail Investors: Minimum investment of Rs 15,000 for 150 shares.
• Maximum Retail Investment: Rs 1.95 lakh for 1,950 shares (up to the investment limit of Rs 2 lakh).

Reservation Breakdown:

• Qualified institutional buyers and retail investors each have a 35% reservation in the public issue.
• High net worth individuals (non-institutional investors) have a 30% reservation.

Business Overview:

• Apart from wholesale and retail jewellery sales, RBZ Jewellers operates a retail showroom under the brand Harit Zaveri in Ahmedabad.
• The company also exports jewellery to the Middle East.

Lead Manager: Arihant Capital Markets is the book-running lead manager to the issue.

RBZ Jewellers seeks to leverage the IPO to fuel its growth and enhance its presence in the jewellery market.