RBZ Jewellers IPO opens today
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New Delhi: RBZ Jewellers on Monday said it has fixed a price band of Rs 95-100 per share for its initial share sale that will open for public subscription on December 19.
The three-day Initial Public Offering (IPO) will conclude on December 21, the company said in a statement. The IPO is entirely a fresh issue of 1 crore equity shares with no offer for sale (OFS) component. The Ahmedabad-based B2B and retail jewellery firm would raise Rs 100 crore through the issue at the upper end of the price band.
Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes. The company’s revenue from operations rose 14 per cent to Rs 289.6 crore in fiscal 2023 from Rs 252.5 crore in fiscal 2022. Besides, profit after tax surged 55 per cent to Rs 22.43 crore in fiscal 2023 from Rs 14.48 crore in the preceding financial year.
Arihant Capital Markets Ltd is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE.
