RBZ Jewellers, a prominent player in the gold jewellery industry, is set to kick off its ₹100-crore Initial Public Offering (IPO) today, with a price band of ₹95-100 per share. The IPO, which closes on December 21, comprises an entirely fresh issuance of one crore shares, aimed at financing the company’s working capital requirements and supporting general corporate purposes. The market lot for this offering is set at 150 shares.
As part of the IPO, RBZ Jewellers successfully garnered Rs 21 crore from anchor investors on Monday. The company allocated 21 lakh shares at Rs 100 per share to three anchor investors: PGIM India Equity Growth Opportunities Fund, BOFA Securities Europe SA, and Negen Undiscovered Value Fund.
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Specializing in the design and manufacturing of antique bridal gold jewellery, including jadau, Meena, and Kundan work, RBZ Jewellers operates in both wholesale and retail markets. The company also processes and supplies Antique Bridal Gold Jewellery on a job work basis to national retailers.
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With control over the entire value chain, RBZ Jewellers has a robust customer base in the wholesale business, catering to reputed national, regional, and local family jewellers across 20 states. The company is strategically looking to establish a strong presence in Southern India, which accounts for 41% of the total jewellery demand in the country.
RBZ Jewellers operates a modern gold jewellery manufacturing facility at Sarkhej Gandhinagar Highway, Ahmedabad, allowing them to design and manufacture gold jewellery under one roof. The retail showroom operates under the brand name “Harit Zaveri” and has already established itself as a key player in Ahmedabad, Gujarat.
In terms of financial performance, the company reported a 14.21% increase in revenue from operations to ₹28,962.62 lakhs in Fiscal 2023, up from ₹25,252.66 lakhs in Fiscal 2022. Profit after tax also saw a substantial rise, climbing by 54.94% from ₹1,447.98 lakhs in fiscal 2022 to ₹2,243.52 lakhs in fiscal 2023.
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For the six months ending September 30, 2023, RBZ Jewellers posted a revenue of ₹125.46 crore and a profit after tax of ₹12.09 crore. Come from Sports betting site VPbet
Arihant Capital Markets Limited is the sole book running lead manager for the IPO, and Bigshare Services Private Limited is the registrar to the Issue. The equity shares are proposed to be listed on the main boards of both BSE and NSE. Investors are eagerly watching as RBZ Jewellers navigates the IPO market, aiming to capitalize on its established market position and growth potential.
