RBZ Jewellers Limited, Ahmedabad-based leading gold jewellery manufacturer, is launching its Initial Public Offering (IPO) to raise Rs 100 crore through a sale of fresh equity shares. The company proposes to use the net issue proceeds towards funding capital requirements and general corporate expenses of the company. The IPO will open for subscription on 19th December 2023 and will close on 21st December 2023 before a proposed listing on 27th December on the primary stock exchanges of India. The company will be offering a total of 1 crore equity shares at a price band of Rs 95 to Rs 100 per share.
About Company
Established in 2008, RBZ Jewellers Limited has its manufacturing facility located in Ahmedabad, Gujarat but sells the gold jewellery products to its wholesale customer base across 19 states and 72 cities in India. In its RHP document, the company has stated that it holds 1% market share of the total organised wholesale gold market in India.
The company also operates its own retail stores under the brand name ‘Harit Zaveri’. Rajendrakumar Kantilal Zaveri and Harit Rajendrakumar Zaveri are the promoters of the company.
IPO Details
Arihant Capital Markets Ltd is the book running lead manager where Bigshare Services Pvt Ltd is the registrar for the IPO.
- The RBZ Jewellers Limited IPO is a book built issue comprising of a fresh issue of 1 crore equity shares aggregating to a total of Rs 100 crore. The issue has no offer for sale component.
- The company has set the price band in the range of Rs 95 to Rs 100 per share at a face value of Rs 10 per share.
- The lot size is 150 shares. Meaning the investors can bid for a minimum of 150 shares and in the multiples of 150 shares thereafter.
- The retail investors can bid for 1-13 lots whereas the Non-institutional investors (NIIs) can bid for 14-66 lots.
- According to the reservation details, the QIB portion should not exceed 50% of the net issue whereas the NII and retail portions should not be less than 15% and 35% respectively.
Important Dates
- The issue will open for subscription on 19th December and close on 21st December 2023.
- The basis of allotment will be finalised on 22nd December 2023.
- The initiation of refunds as well as the credit of shares to the Demat accounts will take place on 26th December 2023.
- The tentative listing date is 27th December 2023.
Company Financials
- Revenue: The company’s revenue increased to Rs 289.63 crore in FY23 over Rs 252.53 crore in FY22 and Rs 123.74 crore in FY21. In the H1 of FY24, the company reported a revenue of Rs 125.52 crore.
- Profit After Tax: The company’s reported PAT in FY23 was Rs 22.33 crore against Rs 14.41 crore in FY22 and Rs 9.75 crore in FY21. Reported PAT in H1FY24 was Rs 12.09 crore.
- Net Worth: The company’s reported net worth by 30th September 2023 was Rs 104.57 crore, up from Rs 92.47 crore in FY23.
- Total Borrowings: The company’s total borrowings stood at Rs 101.84 crore as reported on 30th September 2023.
- Reserves and Surplus: By 30th September 2023, the company reported Reserves and Surplus was Rs 74.02 crore, over Rs 61.93 crore in FY23.
- Assets: The company holds assets worth Rs 234.76 crore as per its report on 30th September 2023. The asset value saw increase over Rs 206.84 crore in FY23.
- The market cap of the RBZ Jewellers IPO is Rs 400 crore.
Refer to the official RHP document on SEBI’s website for more details on the RBZ Jewellers Limited IPO.
