RBZ Jewellers' IPO received 2.27 times subscription on Day 1, with strong demand from retail investors. The IPO, priced at Rs 95-100 per share, aims to raise Rs 100 crore.
New Delhi, Dec 19 (PTI) The Initial Public Offering (IPO) of RBZ Jewellers got subscribed 2.27 times on the first day of bidding on Tuesday.
The Rs 100-crore initial share sale received bids for 1,79,64,900 shares against 79,00,000 shares on offer, according to data available with the NSE.
The portion for Retail Individual Investors (RIIs) attracted 4.53 times subscription while the category for non-institutional investors got subscribed 71 per cent.
The IPO of 1 crore equity shares has a price range of Rs 95-100 per scrip.
Ahmedabad-based B2B and retail jewellery firm RBZ Jewellers on Monday said it raised Rs 21 crore from anchor investors.
Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes.
Arihant Capital Markets is the manager to the offer.
The company's equity shares are proposed to be listed on the BSE and the NSE.
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