Shares of RBZ Jewellers will be listed at the bourses today. The IPO attracted retail investors more. The ₹100-crore initial public offering from RBZ Jewellers, at a price band of ₹95-100, was subscribed 24.74 times by retail investors. The HNI portion received bids 9.27 times, and the QIBs portion received bids 13.43 times, resulting in an overall subscription of 16.86 times.
The offer, a fresh issuance of one crore shares, is being made to finance the working capital requirements and for general corporate purposes.
The company had garnered ₹21 crore from anchor investors 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.
RBZ Jewellers specialises in designing and manufacturing a diverse range of antique bridal gold jewellery, including jadau, Meena, and Kundan work. It sells these products on both a wholesale and retail basis. It also processes and supplies antique bridal gold jewellery on job work basis to national retailers.