The Initial Public Offering (IPO) of RBZ Jewellers opened for subscription on Tuesday. Ahead of the IPO, RBZ Jewellers raised Rs 21 crore from anchor investors.
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The company has allotted 21 lakh equity shares to three funds at Rs 100 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.
Key Things To Know About RBZ Jewellers IPO
– BofA Securities Europe SA bought 11 lakh shares for Rs 11 crore, PGIM India Mutual Fund picked up 5 lakh shares valued Rs 5 crore and Negen Undiscovered Value Fund purchased 5 lakh shares to the tune of Rs 5 crore, the data showed.
– The IPO is entirely a fresh issue of 1 crore equity shares with no Offer For Sale (OFS) component.
– The Ahmedabad-based B2B and retail jewellery firm would raise Rs 100 crore through the issue at the upper end of the price band.
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– The price band has been set at Rs 95-100 per share for the IPO opening on December 19 and closing on December 21.
– Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes.
– The company’s revenue from operations rose 14 per cent to Rs 289.6 crore in FY23 from Rs 252.5 crore in FY22.
– Besides, Profit After Tax (PAT) surged 55 per cent to Rs 22.43 crore in FY23 from Rs 14.48 crore in the preceding financial year.
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Arihant Capital Markets Ltd is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the BSE and the NSE.
