The IPO of RBZ Jewelers will start on Tuesday at a price of Rs 95-100 per share

The Ahmedabad-based B2B and retail jewelery company would raise Rs 100 crore through the issue at the higher end of the price range. The proceeds from the issuance will be used to finance the company's working capital needs and for general corporate purposes.

RBZ Jewelers on Monday said it has set a price band of Rs 95-100 per share for the initial share sale, which will open for public subscription on December 19.

The three-day initial public offering (IPO) will end on December 21, the company said in a statement.

The IPO is entirely a fresh issue of 1 crore shares without an offer for sale (OFS) component.

The Ahmedabad-based B2B and retail jewelery company would raise Rs 100 crore through the issue at the higher end of the price range.

The proceeds from the issuance will be used to finance the company's working capital needs and for general corporate purposes.

Operating income from operations rose 14 percent to Rs 289.6 crore in fiscal 2023 from Rs 252.5 crore in fiscal 2022. Moreover, profit after tax rose 55 percent to Rs 22.43 crore in fiscal 2023 , compared to Rs 14.48 crore in the previous fiscal.

Arihant Capital Markets Ltd is the sole lead manager of the issue. The shares are proposed to be listed on BSE and NSE.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

First print: December 18, 2023 | 19:00 IST