Ahmedabad based RBZ Jewellers files DRHP for IPO

Ahmedabad: Ahmedabad-based RBZ Jewellers, a manufacturer of gold jewellery has filed its draft red herring prospectus (DRHP) with capital market regulator Sebi to raise funds through for its initial public offering (IPO), the company said in a statement. 

As per the company statement, “The issue with a face value of Rs 10 each is entirely a fresh issue of 1 crore equity shares. The Issue is being made through the Book Building Process, wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Issue shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders.”

“As per the DRHP, the proceeds from the issue will be utilized to the extent of Rs. 80.75 crore for funding working capital requirements of the company and general corporate purposes,” the company release said. 

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, said the company statement.