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

• Price Band of ₹95 – ₹100 per equity share bearing face value of ₹10 each (“Equity Shares”) 
• Bid/Offer Opening Date – Tuesday, December 19, 2023 and Bid/Offer Closing Date – Thursday, December 21, 2023. 
• Minimum Bid Lot is 150 Equity Shares and in multiples of 150 Equity Shares thereafter. 
• The Floor Price is 9.5 times the face value of the Equity Share and the Cap Price is 10 times the face value of the Equity Share. 

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 150 Equity 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 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, 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.

RHP Link : https://www.sebi.gov.in/filings/public-issues/dec-2023/rbz-jewellers-limited-rhp_79857.html