RBZ Jewellers Limited has fixed the price band at Rs 95 to Rs 100 per Equity Share for its maiden public offer. The Initial Public Offering 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 150 Equity Shares thereafter.
The Public Issue of face value of Rs 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 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. The company owns a well-equipped and modern 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.
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.
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.
