Tribhovandas Bhimji Zaveri's (TBZ) has fixed a price band of Rs 200-210 a share for its initial public offering. The issue size is Rs 210 crore.
The issue opens on April 24 and closes on April 26. The issue will constitute 25 per cent of the post-issue paid-up capital of the company.
Plans new showrooms
The company plans to use the IPO proceeds to finance establishment of new showrooms and to finance working capital requirements.
The jewellery company plans to open 43 additional showrooms, which include 25 large format ‘high street' showrooms and 18 small format ‘high street' showrooms by the end of fiscal 2015. After expansion, TBZ will have 57 showrooms spread across 14 States.
The company plans to use about Rs 20 crore from the net proceeds to open nine new large format showrooms by the end of fiscal 2013. These new showrooms will be established in Aurangabad, Gandhidham, Hyderabad, Kolkata, Nagpur, Vadodara, Valsad and Visakhapatnam.
IDFC Capital and Avendus Capital are the Book Running Lead Managers.