RBZ Jewellers' ₹100 cr IPO opens today: Key things to know before subscribing
₹100 crore initial public offer (IPO) of RBZ Jewellers opened for subscription today, December 19, 2023, and will end on December 21. The company has set a price band of ₹95-100 per share for the issue. This is one of the last IPOs of 2023.
About the issue: The IPO is completely a fresh issue of 1 crore shares. There is no offer for sale (OFS) segment in the public offer. Anchor Investors: Ahead of the launch, the company has raised ₹21 crore from anchor investors.
The company allocated 21 lakh shares at ₹100 per share to three anchor investors - PGIM India Equity Growth Opportunities Fund, BOFA Securities Europe SA, and Negen Undiscovered Value Fund. Reservation: RBZ Jewellers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Objective: ₹80.75 crore on meeting working capital requirements.
Additionally, up to 25 percent of the gross proceeds will be allocated for general corporate purposes. Lot Size: Investors can bid for a minimum of 150 equity shares and in multiples of 150 thereafter. Hence, at the upper price band, retail investors will have to invest ₹15,000 for one lot.
Subscription Status: On the first day of bidding itself, the issue has been fully subscribed. At 2:40 pm, it was subscribed 1.54 times. It has received bids for 1.21 crore shares as against 79 lakh shares on offer.
The retail investor portion was subscribed the most, 3.14 times followed by the Non Institutional Investors' (NII) quota, which was bid 39 percent. However, the Qualified Institutional Buyers (QIBs) part is yet to be booked. GMP: The
. Read more on livemint.com
