
RBZ Jewellers which is based in Ahmedabad has filed its draft red herring prospectus (DRHP) with SEBI to raise funds through Initial Public Offering (IPO). Fresh 1 crore equity shares will enter the market with a face value of Rs 10 each.
The fresh issue of shares is being made through the Book Building process where not more than 50% of shares shall be made available for allocation on a proportionate basis to Qualified Institutional Buyers. Non- Institutional Buyers will be allocated not less than 15% of the equity and not less than 35% will be available for allocation to the Retail Individual Bidders.
As per the DRHP filed, the proceeds from the issue raised will be utilized to the extent of Rs 80.75 crore for funding working capital requirements and general corporate purposes of the company.
RBZ Jewellers has a rich history spanning over 15 years whose foundation was laid by Shri Bababhai Hargoviddas Zaveri who was a renowned goldsmith from Patan, Gujarat. RBZ Jewellers specializes in Antique Gold Jewellery which are available in both wholesale and retail platforms. They have expanded the presence across 19 Indian states and 72 cities serving countless national, regional and local business. Renowned national brands like Titan, Malabar Jewellers, PN Gadgil, Kalamandir Jewels among others hand large scale orders to RBZ Jewellers.
In the last three fiscal years leading upto 2023, the company has gained a growth in its operational revenues. The Compound annual growth rate (CAGR) was registered at 64.05%. The revenue of RBZ Jewellers rose from Rs 252.11 crore in Fiscal year 2022 to Rs 287.93 crore in 2023 and the net profits witnessed a growth of 54.96% from Rs 14.41 crore in 2022 to Rs 22.33 crore in 2023.