The RBZ Jewellers public issue was subscribed 7.15 times at the end of Day 2 on Wednesday, on heavy investing by as retail investors and HNIs. The ₹100-crore initial public offering from RBZ Jewellers that comes with a price band of ₹95-100, received bids for 5.65 crore shares, as against an offer of 79 lakh shares. The issue will close today and the market lot is 150 shares.

The offer, a fresh issuance of one crore shares, is being made to finance the working capital requirements and for general corporate purposes. 

Subscription details

The retail investors’ portion was subscribed 13.14 times and that for of non-institutions quota by 3.49 times. The QIB quota remained muted at 0.05 times.

While 35 per cent of the offer has been is being reserved for qualified institutional buyers, 30 per cent has been reserved is for non-institutional bidders and the remaining st 35 per cent is for retail investors.

Anchor investors

As part of the IPO, RBZ Jewellers On Monday the company garnered ₹21 crore from anchor investors. It The company informed the bourses that it had by allocating 21 lakh shares at ₹100 a share to three anchor investors -- PGIM India Equity Growth Opportunities Fund, BOFA Securities Europe SA and Negen Undiscovered Value Fund.

About RBZ Jewellers

RBZ Jewellers specialises in designing and manufacturing a diverse range of antique bridal gold jewellery, including which consists of jadau, Meena, and Kundan work, which it sells it on both a wholesale and retail basis. It also processes and supplies Antique Bridal Gold Jewellery on job work basis to national retailers.

The company RBZ Jewellers, which has complete control over the entire value chain and hasa customer base in the wholesale business, which includes reputed national, regional, and local family jewellers across 20 states. It intends to make a strong footprint in Southern India as South India that accounts for 41 per cent of the total jewellery demand in India.

At its The company owns a modern gold jewellery manufacturing facility on the Sarkhej Gandhinagar Highway, Ahmedabad, it that undertakes. The facility enables them to designs and manufactures gold jewellery under one roof.  RBZ Jewellers operates its retail showrooms under the brand name “Harit Zaveri” and is an established player in Ahmedabad, Gujarat.

For the six months ended September 30, the company posted a revenue of ₹125.46 crore and a profit-after-tax of ₹12.09 crore.

Arihant Capital Markets Ltd is the sole book-running lead manager and Bigshare Services Pvt Ltd is the registrar to the Issue. The equity shares are proposed to be listed on the main board of both the BSE and NSE.

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