RBZ Jewellers, which designs and manufactures antique bridal gold jewellery, has set the price band for its initial public offering at Rs 95-100 per share on December 14. The company intends to raise Rs 100 crore from the issue.
Investors can participate in the public issue during December 19-21, while anchor investors can pick up stakes on December 18.
The IPO comprises only a fresh issue component of one crore equity shares by the gold jewellery manufacturer, and there is no offer-for-sale component.
Of the issue proceeds, the Ahmedabad-based company will spend Rs 80.75 crore primarily on its working capital requirements and will keep the rest for general corporate purposes.
The minimum lot size to apply has been fixed at 150 equity shares and in multiples of 150 shares thereafter. Retail investors can invest a minimum of Rs 15,000 for 150 shares and their maximum investment will be Rs 1.95 lakh for 1,950 shares as they cannot exceed an investment limit of Rs 2 lakh.
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Qualified institutional buyers and retail investors are getting 35 percent reservation each in the public issue, while the remaining 30 percent is reserved for high networth individuals (non-institutional investors).
Apart from selling jewellery on a wholesale and retail basis, RBZ Jewellers owned by promoters Rajendrakumar Kantilal Zaveri and Harit Rajendrakumar Zaveri also operates its retail showroom under the brand Harit Zaveri in Ahmedabad and exports jewellery to the Middle East.
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This will be the fourth jewellery company launching the public issue in the mainboard segment in 2023. Motisons Jewellers will also open its Rs 151-crore public issue on December 18, while other two public issues were Senco Gold and Vaibhav Jewellers.
Arihant Capital Markets is the book-running lead manager to the issue.
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