RBZ Jewellers shares unchanged on debut, list at par with IPO price
RBZ Jewellers listed unchanged on the exchanges on Wednesday. The stock debuted at Rs 100 on the bourses as against the IPO price of Rs 100.
Ahead of the listing, the company's shares traded flat in the grey market.
The public offer of RBZ Jewellers was subscribed 16.72 times at close.
The retail portion was subscribed 24.45 times and the non-institutional investors' portion was booked 9.25 times. The category reserved for qualified institutional buyers (QIBs) was subscribed 13.43 times.
The IPO was completely a fresh issue of 1 crore shares with no offer for sale (OFS) segment.
The proceeds will be used for funding working capital requirements and general corporate expenses.
RBZ Jewellers is an antique gold jewellery maker with a history spanning over 15 years in the industry.
It specializes in designing and manufacturing a diverse range of antique gold jewellery, including jadau, meena, and kundan work, which they sell on both wholesale and retail platforms.
According to a Care Edge Report, RBZ Jewellers has established a customer base in the wholesale business, serving reputed national, regional, and local family jewellers across 19 states and 72 cities in India.
In the past three fiscal years leading up to 2023, the company saw its revenue from operations grow at a compound annual growth rate (CAGR) of 64.05%. The company's profit after tax has risen at a CAGR of 51.36% from FY21 to FY23.
In FY23, revenues rose 14% to Rs 287.93 crore, primarily attributed to higher revenue generated from the sale of products and services.
