RBZ Jewelers IPO receives 16.86 times subscription on last day of offering
Ahmedabad-based B2B and retail jewelery company RBZ Jewelers on Monday said it has raised Rs 21 crore from major investors.
The initial Rs 100 crore share sale of RBZ Jewelers received 16.86 times subscription on the closing day of bidding on Thursday.
The initial public offering (IPO) saw bids for 13,31,88,450 shares against 79,00,000 shares on offer, according to NSE data.
The retail retail investors (RIIs) quota received 24.74 times the subscription, while the Qualified Institutional Buyers (QIBs) section collected 13.43 times the subscription. The non-institutional investor category was subscribed 9.27 times.
The 1 crore share offering had a price band of Rs 95-100 each.
Ahmedabad-based B2B and retail jewelery company RBZ Jewelers on Monday said it has raised Rs 21 crore from major investors.
The proceeds from the issuance will be used to finance the company's working capital needs and for general corporate purposes.
Arihant Capital Markets managed the offer.
The company's shares are proposed to be listed on BSE and NSE.
First print: December 22, 2023 | 12:22 pm IST