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RBZ Jewellers IPO subscribed 16.86 times on Final Day

The Initial Public Offering of RBZ Jewellers Limited was subscribed 16.86 times on the first day of bidding.

The issue received bids of 13,31,83,500​shares against the offered 79,00,000 equity shares, at a price band of ₹95-100, according to the data available on the stock exchanges.

Retail Portion was the most subscribed with 24.74 times, followed byQualified Institutional Buyers with 13.43 times, whereas Non-Institutional Investors Portion with 9.27 times. The issue kicked off for subscription on Tuesday, December 19, 2023 and will close on Thursday, December 21, 2023.

A day prior to the opening of the issue, RBZ Jewellers Ltd had raised Rs 21 crores from anchor investors. PGIM India Equity Growth Opportunities Fund – Series I bought 5 lakh equity shares amounting to Rs 5 crore, BOFA Securities Europe SA – ODI bought 11 lakh equity shares amounting to Rs 11 crores and Negen Undiscovered Value Fund purchased 5 lakh equity shares valued at Rs 5 crore.

Arihant Capital Markets Limited is the sole book running lead manager and Bigshare Services Private Limited is the registrar to the Issue.

Company Information

RBZ Jewellers has a rich history spanning over fifteen (15) years in the jewellery industry. They specialize in designing and manufacturing a diverse range of Antique Bridal Gold Jewellery, including jadau, Meena, and Kundan work, and sell it on both wholesale and retail platforms. In addition to their own retail operations, it processes and supplies Antique Bridal Gold Jewellery on job work basis to national retailers.

RBZ Jewellers has established a customer base in the wholesale business, serving reputed national, regional, and local family jewellers across 20 states and 72 cities in India. It intends to make strong footprint in Southern India than accounts for 41% of the total jewellery demand in India

The company owns a state-of-the-art gold jewellery manufacturing facility spanning 23,966 sq ft located at Sarkhej Gandhinagar Highway, Ahmedabad. The facility enables them to design and manufacture gold jewellery under one roof.

RBZ Jewellers operates its retail showroom under the brand name “Harit Zaveri” and is an established player in Ahmedabad, Gujarat. It owns 10,417 sq. ft. of the showroom space and are admeasuring 1,250 sq. ft. on a lease basis. The company forayed into the retail business in 2014.

The Jewellers’ revenue from operations increased by 14.21% to ₹28,962.62 lakhs in Fiscal 2023 from ₹25,252.66 lakhs in Fiscal 2022,primarily attributed to higher revenue generated from the sale of products and services. Profit after tax increased by 54.94% from ₹1447.98 lakhs in fiscal 2022 to ₹2243.52 lakhs in fiscal 2023. For the six months ended September 30, 2023, revenue from operations stood at ₹ 12,545.68 lakhs and profit after tax stood at ₹ 1209.39 lakhs.

The table below shows subscription data for all the categories of investors:

RBZ JEWELLERS LIMITED

Last updated on
21 Dec 2023 | 05:48:00 PM

Sr.No.

Category

No.of shares offered / reserved

No. of shares bid for

No. of times of total meant for the category

1

Qualified Institutional Buyers (QIBs)

14,00,000

1,87,97,250

13.43

1(a)

Foreign Institutional Investors (FIIs)

97,65,450

1(b)

Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)

78,38,250

1(c)

Mutual Funds

1(D)

Others

11,93,550

2

Non Institutional Investors(NIIS)

30,00,000

2,77,96,950

9.27

2.1

Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)

20,00,000

1,35,88,950

6.79

2.1(a)

Corporates

5,23,050

2.1(b)

Individuals (Other than RIIs)

1,16,43,600

2.1(c)

Others

14,22,300

2.2

Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)

10,00,000

1,42,08,000

14.21

2.2(a)

Corporates

1,51,950

2.2(b)

Individuals (Other than RIIs)

1,28,46,750

2.2(c)

Others

12,09,300

3

Retail Individual Investors (RIIs)

35,00,000

8,65,89,300

24.74

3(a)

Cut Off

7,69,62,450

3(b)

Price Bids

96,26,850

4

Employee Reserved

4(a)

Employee (Cut off)

4(b)

Employee (Price)

5

Reservation PortionShareholder

5(a)

RPS (Cut off)

5(b)

RPS (Price)

Total

79,00,000

13,31,83,500

16.86

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