Shares of RBZ Jewellers closed 5 per cent increased on itemizing day after opening on a boring notice. The inventory closed at ₹105 in opposition to the IPO value of ₹100 on the NSE, after transferring between ₹96 and ₹105. On the BSE, it closed at ₹104.99.
The ₹100-crore preliminary public providing from RBZ Jewellers got here out with a value band of ₹95-100 and was subscribed 16.86 instances, primarily because of retail buyers, whose portion acquired bids for twenty-four.74 instances.
The provide, a recent issuance of 1 crore shares, is being made to finance the working capital necessities and for basic company functions from the Jaipur-based firm.
Forward of the IPO, the jeweller had garnered ₹21 crore from three anchor buyers — PGIM India Fairness Development Alternatives Fund, BOFA Securities Europe SA, and Negen Undiscovered Worth Fund.
RBZ Jewellers specialises in designing and manufacturing a various vary of vintage bridal gold jewelry, together with jadau, Meena, and Kundan works.
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