RBZ Jewellers announces price band at ₹95-100 per share: issue details, more
The RBZ Jewellers IPO price band has been fixed in the range of ₹95 to ₹100 per equity share with a face value of ₹10. The company is one of the leading organised manufacturers of gold jewellery in India, specialising in antique bridal gold jewellery.
The IPO will open for subscription on December 19 (Tuesday) and close on Thursday, December 21. Through the issue, the company aims to raise ₹100 crore via the issuance of fresh equity shares. The net proceeds from the issue are to be utilised towards funding the working capital requirements of the company and general corporate purposes.
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Retail investors have the opportunity to submit bids for up to 13 lots, with each lot containing 150 shares. At the upper end of the IPO price band, at ₹100, retail investors are required to make a minimum investment of ₹15,000 per lot.
RBZ Jewellers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional institutional investors (NII), and not less than 35% of the offer is reserved for retail investors.
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RBZ Jewellers IPO basis for allotment of shares will be finalised on Friday, December 22, and the company will initiate refunds on Tuesday, December 26, while the shares will be credited to the Demat account of allottees on the same day following the refund. RBZ Jewellers’ shares are likely to be listed on the BSE and NSE on Wednesday, December 27.
About RBZ Jewellers
RBZ Jewellers is one of the leading organised manufacturers of gold jewellery in India, specialising in antique bridal gold jewellery and distributing it to reputable nationwide retailers and significant regional players in India.
The company, in its RHP report, said that it holds approximately 1% of the total organised wholesale gold jewellery market in India. It designs and manufactures a wide range of antique bridal gold jewellery, which consists of jadau, meena, and kundan work, and sells it on a wholesale and retail basis.
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The company also processes and supplies antique bridal gold jewellery on a job work basis to national retailers. Its customer base in wholesale business includes reputed national, regional, and local family jewellers spread across 20 states and 72 cities within India, RHP showed.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Published: 14 Dec 2023, 09:20 AM IST
