RBZ Jewellers IPO subscribed 1.64 times on first day of subscription

RBZ Jewellers IPO: RBZ Jewellers opens for subscription on Tuesday, December 19, and will close on Thursday, December 21. RBZ Jewellers' IPO price band has been set in the range of Rs 95 to Rs 100 per equity share of a face value of Rs 10 per equity share. The RBZ Jewellers IPO raised Rs 21 crore from anchor investors on Monday, December 18. The RBZ Jewellers IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter. 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. The company's revenue from operations rose 14 per cent to Rs 289.6 crore in fiscal 2023 from Rs 252.5 crore in fiscal 2022.  Besides, profit after tax surged by 55 per cent to Rs 22.43 crore in fiscal 2023 from Rs 14.48 crore in the preceding financial year. Arihant Capital Markets Ltd is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE on December 27.
 
The portion for Qualified Institutional Buyers (QIBs) had a nil subscription while the quota for non-institutional investors received a 0.42 times subscription. The part for Retail Individual Investors (RIIs) got subscribed 3.40 times.
 
RBZ Jewellers' IPO comprises the fresh issuance of one crore shares worth an estimated Rs 100 crore. Arihant Capital Markets is the book-running lead manager of the RBZ Jewellers IPO, whereas Bigshare Services is the registrar.

RBZ Jewellers: Details 

• IPO Date: December 19, 2023, to December 21, 2023
• Face Value: Rs 10 per share
• Price Band: Rs 95 to Rs 100 per share
• Lot Size: 150 shares
• Basis of Allotment: Friday, December 22, 2023
• Listing Date: Wednesday, December 27, 2023 

What does RBZ Jewellers do?

Incorporated in April 2008, RBZ Jewellers is an Ahmedabad-based gold jewellery manufacturer specialising in the creation of antique designs.