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 Rs 95 to Rs 100 per Equity Share for its maiden initial public offer. The Initial Public Offering 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 Rs 10 per Equity Share is entirely a fresh issuance of Equity Shares of up to 10 million with no Offer for Sale (OFS) component.
RBZ Jewellers has a rich history spanning over fifteen (15) years in the jewellery industry. They specialize in designing and manufacturing a diverse range of Antique Bridal Gold Jewellery, including jadau, Meena, and Kundan work, and sell it on both wholesale and retail platforms. In addition to their own retail operations, it processes and supplies Antique Bridal Gold Jewellery on job work basis to national retailers.
RBZ Jewellers has established a customer base in the wholesale business, serving reputed national, regional, and local family jewellers across 20 states and 72 cities in India. It intends to make strong footprint in Southern India than accounts for 41% of the total jewellery demand in India
The company owns a state-of-the-art 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 are admeasuring 1,250 sq. ft. on a lease basis. The company forayed into the retail business in 2014.
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, primarily attributed to higher revenue generated from the sale of products and services. Profit after tax increased by 54.94% from ₹1447.98 lakhs in fiscal 2022 to ₹2243.52 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.
Arihant Capital Markets Limited is the sole book running lead manager and Bigshare Services Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
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