Updated December 27th, 2023 at 10:53 IST
RBZ Jewellers makes subdued stock market listing
During its IPO, spanning from December 19 to December 21, RBZ Jewellers offered its shares within a price bracket of Rs 95-100 each, with a lot size of 150.
RBZ Jewellers IPO: RBZ Jewellers made a subdued listing on stock exchanges on Wednesday as its shares opened at Rs 100 apiece on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This debut equates company's issue price, which was set at Rs 100 per share. Currently, the shares of the company are trading at Rs 104.99 apiece, at the time of writing this news.
Throughout its pre-listing phase, RBZ Jewellers did not witness any notable grey market premium (GMP), maintaining a consistent par value since the announcement of its initial public offering (IPO). During its IPO, which spanned from December 19 to December 21, RBZ Jewellers offered its shares within a price bracket of Rs 95-100 each, with a lot size of 150 shares.
The company aimed to raise Rs 100 crore through this public issuance, encompassing the sale of 10,000,000 fresh equity shares.
The IPO garnered considerable interest, receiving an overall subscription rate of 16.86 times. Specifically, the portion allocated for qualified institutional bidders (QIBs) reached a subscription rate of 13.43 times, while non-institutional investors subscribed 9.27 times. Retail investors also showed high interest, oversubscribing their quota by 24.74 times.
Founded in April 2008 and headquartered in Ahmedabad, RBZ Jewellers specialises in the creation of antique gold jewellery. The company's portfolio includes a broad array of antique gold pieces, distinguished by intricate jadau, meena, and kundan craftsmanship, available across wholesale and retail platforms.
Arihant Capital Markets acted as the exclusive book-running lead manager for the RBZ Jewellers IPO, while Bigshare Services assumed the role of the registrar for the public offering.
Published December 27th, 2023 at 10:53 IST