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RBZ Jewellers Limited’s Initial Public Offering to open on Tuesday, December 19, 2023, sets price band at ₹95 to ₹100 per Equity Share

L-R – Mr.Amol Kshirsagar, Arihant Capital, Mr. Rajendra Zaveri MD, Mr. Harit Zaveri JMD & Mr. Harshvardhan Bhardwaj, CFO, RBZ Jewellers Limited


Mumbai
, December 18, 2023: RBZ Jewellers Limited, one of the leading organised manufacturers of gold jewellery in India, specializing in Antique Bridal Gold Jewellery and distributing to reputable nation-wide retailers and significant regional players in India, has fixed the price band at 95 to 100 per Equity Share for its maiden public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, December 19, 2023, for subscription and close on Thursday, December 21, 2023. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150Equity Shares thereafter.

The Public Issue of face value of ₹10 per Equity Share is entirely a fresh issuance of 1,00,00,000 Equity Shares . IPO is being made to finance the working capital requirements of the Company and for General Corporate Purposes.

RBZ Jewellers has a history of more than fifteen (15) years in the jewellery industry. They specialize in designing and manufacturing a diverse range of Antique Bridal Gold Jewellery, which consists of jadau, Meena, and Kundan work, and sell it on both wholesale and retail basis. It also processes and supplies Antique Bridal Gold Jewellery on job work basis to national retailers. The unique proposition of their business model is complete control over the entire value chain, which allows it to monitor and control the quality of products on the supply side, and provides the ability to respond quickly to the customers’ needs and preferences on the demand side.

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

The company owns a well-equipped and modern gold jewellerymanufacturing 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 brandname “Harit Zaveri” and is an established player in Ahmedabad, Gujarat. It owns 10,417 sq. ft. of the showroom space and area admeasuring 1,250 sq. ft. is on a lease basis. The company forayed into the retail business in 2014 in the name of “Harit Zaveri Jewellers.

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, while profit after tax increased by 54.94% from ₹1,447.98 lakhs in fiscal 2022 to ₹2,243.52 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.

RBZ Jewellers is supported by an experienced board of directors consisting of four Non-Executive Independent Directors who are knowledgeable personalities from various fields such as gems and jewellery, banking, finance and legal.

Arihant Capital Markets Limited is the sole book running lead manager and Bigshare Services Private Limited is the registrar to the Issue. The equity shares are proposed to be listed on main board of BSE and NSE.

The Issue is being made through the Book Building Process, wherein not more than 35% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 30% of the Issue shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders.

LISTING: The Equity Shares offered through the RHP are proposed to be listed on the Stock Exchanges. Our Company has received ‘in-principle’ approvals from BSE and NSE for the listing of the Equity Shares pursuant to letters dated September 14, 2023. For the purpose of this issue, the Designated Stock Exchange shall be BSE Limited. As signed copy of the Red Herring Prospectus has been filed in accordance with Section 32 of the Companies Act, 2013 and the Prospectus shall be delivered for filing with the RoC in accordance with Sections 26(4) and 32 of the Companies Act, 2013. For details of the material contracts and documents that shall be available for inspection from the date of the Red Herring Prospectus until the Bid / Offer Closing Date, see “Material Contracts and Documents for Inspection” on page 426 of the RHP.

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA(“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 369 of the RHP for the full text of the disclaimer clause of SEBI.

DISCLAIMER CLAUSE OF BSE (the Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 371 of the RHP for the full text of the disclaimer clause of BSE.

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 372 of the RHP for the full text of the disclaimer clause of NSE.

Disclaimer: RBZ JEWELLERS LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus dated June 16, 2023 with SEBI (the “DRHP”) and a red herring prospectus dated December 12, 2023 with the Registrar of Companies, Ahmedabad on December 13, 2023. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., Arihant Capital Markets Limited at www.arihantcapital.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at www.rbzjewellers.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section titled “Risk Factors” beginning on page 32 of the RHP. Potential investors should not rely on the DRHP for making any investment decisions instead investors shall rely on Red Herring Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”), or any state law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144Aunder the U.S. Securities Act) under Section 4(a) of the U.S. Securities Act, and (ii) outside the United States in “offshore transactions” as defined in and in compliance with Regulations under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.

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