RBZ Jewellers IPO subscribed 16.8 times, retail portion booked 24.7 times on final day

RBZ Jewellers IPO

RBZ Jewellers IPO was subscribed 16.86 times on the final day of bidding on December 21 with bids for 13.31 crore shares against an issue size of 79 lakh shares.

Retail investors bought 24.74 times and high net-worth individuals picked 9.27 times the allotted quota, while qualified institutional buyers picked 13.43 times their reserved portion.

The Rs 100 crore public offer which closes today, comprises only of fresh issues of shares and there is no offer for sale component. The price band for the issue had been fixed at Rs 95-100 per share with a lot size of a minimum of 150 equity shares followed by multiples of 150.

Qualified institutional buyers and retail investors are getting 14 percent and 35 percent reservation respectively in the public issue, while the remaining 30 percent is reserved for high net worth individuals (non-institutional investors).

Also read: RBZ Jewellers IPO: Issued booked 2.27 times on debut, retail portion subscribed 4.5 times

The fresh proceeds will be utilised primarily for working capital requirements of Rs 80.75 crore. The remaining funds will be kept for general corporate purposes, which will not be more than 25 percent of the gross proceeds.

RBZ registered a 55 percent on-year growth in net profit at Rs 22.33 crore for the year ended March FY23. Revenue from operations for the year FY23 stood at Rs 288 crore, growing 14.2 percent over the previous year, while the EBITDA (earnings before interest, tax, depreciation and amortisation) increased sharply by 41 percent to Rs 37.8 crore with margin expansion of 249 bps at 13.11 percent during the same period.

Incorporated in April 2008, RBZ Jewellers Limited is a gold jewellery manufacturer specialising in the creation of antique designs.