RBZ Jewellers Announces Price Band of Rs 95-100 for Rs 100-Crore IPO

RBZ Jewellers, a leading designer and manufacturer of antique bridal gold jewellery, has unveiled the price band for its highly anticipated initial public offering (IPO) today. The company has set the price range at Rs 95 to Rs 100 per share, with plans to raise Rs 100 crore from the IPO.

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Investors eagerly eyeing this opportunity can participate in the public issue from December 19 to December 21, while anchor investors will get a chance to invest on December 18.

RBZ Jewellers’ IPO comprises only a fresh issue component of one crore equity shares, with no offer-for-sale component involved. The company intends to utilize Rs 80.75 crore from the issue proceeds primarily for its working capital requirements, while the remaining funds will be allocated for general corporate purposes.

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The minimum lot size for application is 150 equity shares, and investors can apply in multiples of 150 shares thereafter. Retail investors have a minimum investment requirement of Rs 15,000 for 150 shares, and their maximum investment is capped at Rs 1.95 lakh for 1,950 shares, adhering to an investment limit of Rs 2 lakh.

The public issue will have a reservation of 35 percent for qualified institutional buyers and 35 percent for retail investors, with the remaining 30 percent reserved for high net worth individuals (non-institutional investors).

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RBZ Jewellers, owned by promoters Rajendrakumar Kantilal Zaveri and Harit Rajendrakumar Zaveri, not only sells jewellery on a wholesale and retail basis but also operates a retail showroom under the brand Harit Zaveri in Ahmedabad. Additionally, the company exports jewellery to the Middle East.

This marks the fourth jewellery company launching a public issue in the mainboard segment in 2023, with Motisons Jewellers also opening its Rs 151-crore public issue on December 18. Earlier in the year, Senco Gold and Vaibhav Jewellers had their own public issues.

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RBZ Jewellers IPO

Arihant Capital Markets has been appointed as the book-running lead manager to the RBZ Jewellers IPO, further underlining the company’s commitment to a successful public offering. Investors are eagerly awaiting the opportunity to be part of this exciting venture.

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