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RBZ Jewellers IPO to Open Today 19 December
RBZ Jewellers, a well-known company based in Ahmedabad, Gujarat, is set to make its mark in the financial landscape as it opens its Initial Public Offering (IPO) for subscription on Tuesday, December 19. Let’s dive into the key details surrounding this exciting development.
Opening Opportunities: RBZ Jewellers IPO Details
The RBZ Jewellers IPO, priced between ₹95 to ₹100 per equity share with a face value of ₹10, will be open for subscription until Thursday, December 21. The lot size for this IPO is set at 150 equity shares, with multiples available thereafter. The floor price is 9.5 times the face value, and the cap price is 10 times the face value of the equity share.
On Monday, December 18, RBZ Jewellers IPO garnered ₹21 crore from anchor investors, reflecting a strong initial response. This indicates confidence in the company’s potential.
RBZ Jewellers IPO: Allocation Breakdown
RBZ Jewellers IPO has allocated not more than 50% of the shares for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and a minimum of 35% for retail investors. This diverse allocation strategy aims to cater to various investor categories.
About RBZ Jewellers: A Glittering Legacy in Gujarat
Based in Ahmedabad, RBZ Jewellers operates its retail store under the esteemed “Harit Zaveri” brand. With a showroom spanning 10,417 square feet, the company has a significant presence. In 2014, RBZ Jewellers ventured into retail under the brand “Harit Zaveri Jewellers,” expanding its reach and offerings.
RBZ Jewellers IPO Fund Utilization
RBZ Jewellers plans to issue 1,00,00,000 new equity shares at a face value of ₹10 each for general corporate purposes and to meet its working capital needs. The company’s growth strategy involves utilizing the funds wisely for sustained development.
Financial Snapshot: Positive Performance
In fiscal 2023, RBZ Jewellers witnessed a notable 14.21% increase in operating revenue, reaching ₹28,962.62 lakhs from ₹25,252.66 lakhs in fiscal 2022. The profit after taxes also saw a substantial rise of 54.94%, reaching ₹2,243.52 lakhs in fiscal 2023 from ₹1,447.98 lakhs in fiscal 2022. For the six months ending on September 30, 2023, the operating revenue stood at ₹12,545.68 lakhs, with a profit after tax of ₹1209.39 lakhs.
RBZ Jewellers IPO Listing and Timeline: What to Expect
The basis of allotment for RBZ Jewellers IPO shares is expected to be finalized on Friday, December 22. Refunds will commence on Tuesday, December 26, with shares credited to the demat accounts of allottees on the same day. The anticipated listing date on both BSE and NSE is Wednesday, December 27, adhering to the mandatory T+3 listing norm as of December 1, 2023.
RBZ Jewellers IPO Grey Market Premium: Today’s Insight
As of the latest update, RBZ Jewellers IPO’s Grey Market Premium (GMP) stands at ₹0, indicating that shares are trading at their issue price of ₹100 with no premium or discount in the grey market.
Investors are eagerly watching as RBZ Jewellers prepares for its IPO debut, with the company’s performance and potential listing adding a new dimension to the market landscape.
Upcoming IPOs in December 2023
Credo Brands IPO
Mufti jeans maker, Credo Brands, steps into the IPO arena on December 19, aiming to raise Rs 550 crore with a price band of Rs 266-280. The subscription window spans from December 19 to December 21.
Azad Engineering IPO
Azad Engineering’s IPO opens on December 20 and closes on December 22, featuring a price band of Rs 499-524. Comprising a fresh equity of Rs 240 crore and an offer for sale (OFS) of Rs 500 crore, this IPO is poised to attract investor attention.
Happy Forgings IPO
Happy Forgings plans to raise Rs 1,009 crore through its IPO, which opens on December 19 and closes on December 21. With a price band of Rs 808-850, this offering includes a fresh equity issue of Rs 400 crore and an offer for sale (OFS) of 71.59 lakh shares.
You can read more about Happy Forgings IPO in article, Happy Forgings IPO to Open on 19 December 2023: A Closer Look at the Forging Giant’s Public Debut!
SME IPOs: Unlocking Growth Potential
Apart from the mainboard IPOs, the SME segment is set to witness public offers from Sahara Maritime, Electro Force, Shanti Spintex, and Trident Techlabs. These smaller enterprises aim to collectively mobilize Rs 135 crore, presenting unique investment avenues.
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