RBZ Jewelers files DRHP for IPO
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Ahmedabad (Best Hindu News): RBZ Jewelers, Ahmedabad based B2B and retail jeweler in Gujarat has filed Draft Red Herring Prospectus (DRHP) for IPO.
According to a press release issued by RBZ Jewelers here on Saturday, the company is one of the leading organized manufacturers of gold jewelery in India. The company specializes in antique gold jewelery and caters to well-reputed nationwide retailers and other meaningful regional manufacturers in India. has filed its DRHP with capital markets regulator SEBI to raise funds for its initial public offering (IPO).
The issue is a completely fresh issue of one crore equity shares with a face value of Rs 10 per share. The issue is being offered through a book-building process wherein not more than 50 per cent of the issue will be available for allocation to qualified institutional buyers. Not less than 15 per cent of the issue shall be available for allotment to non-institutional bidders and not less than 35 per cent of the issue shall be available for allotment to retail individual bidders.
As per the DRHP, the proceeds of the issue will be utilized for financing the working capital requirements of the company and general corporate objectives to the extent of Rs.80.75 crore.
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