Tribhovandas Bhimji Zaveri files DRHP with SEBI

Tribhovandas Bhimji Zaveri, a well-known and trusted jewellery retailer in India, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public issue of 16,666,667 equity shares of face value of Rs 10 each for cash at a price (including a share premium per equity share) to be determined through a 100% book-building process.

The issue will constitute 25% of the post-Issue paid-up capital of the company.

The proposed IPO is being made through a 100% book building process wherein not more than 50% of the issue shall be allocated on a proportionate basis to qualified institutional buyers (QIB) bidders. Provided that the company may allocate up to 30% of the QIB portion to anchor investors on a discretionary basis out of which one-third shall be reserved for domestic mutual funds.

Further, 5% of the QIB portion (excluding the anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid bids being received at or above the issue price. Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid Bids being received at or above the issue price.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

The book running lead managers to the Issue are IDFC Capital Limited and Avendus Capital Private Limited.

Tribhovandas Bhimji Zaveri Limited primarily sells gold jewellery & diamond-studded jewellery; additionally also sells other products, including platinum jewellery, jadau jewellery and silverware. It has 14 showrooms in nine cities across five states, which have a total carpet area of approximately 44,000 sq. ft. Its flagship showroom in Zaveri Bazaar, Mumbai, was established in 1864.