RBZ Jewellers IPO
RBZ Jewellers IPO — date, price band, lot size & details 2023
RBZ Jewellers listed on 27 Dec 2023 at ₹100, flat to the ₹100 issue price.
RBZ Jewellers is one of the leading organised makers of gold jewellery in India, specialising in antique bridal gold jewellery sold wholesale and retail. Its total income was Rs 289.63 crore in FY2023.
Stock price
RBZ Jewellers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 19 Dec 2023
- Close 21 Dec 2023
- Allotment 22 Dec 2023
- Refund/credit 26 Dec 2023
- Listing 27 Dec 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 19 to 21 Dec, 2023 |
|---|---|
| Price Band | ₹95 – ₹100 |
| Face Value | ₹10 |
| Lot Size | 150 Shares |
| Issue Size | ₹100 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 150 shares at the ₹100 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 150 | ₹15,000 |
| Retail (max) | 13 | 1,950 | ₹1,95,000 |
| S-HNI (min) | 14 | 2,100 | ₹2,10,000 |
| S-HNI (max) | 66 | 9,900 | ₹9,90,000 |
| B-HNI (min) | 67 | 10,050 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 107.71 crore in FY2021 to Rs 289.63 crore in FY2023.
- 02Profit after tax rose from Rs 9.75 crore in FY2021 to Rs 22.33 crore in FY2023.
- 03The whole Rs 100 crore issue was fresh capital, mostly for working capital.
- 04The pre-issue P/E was 13.77 at the upper band of Rs 100, as per the source.
- 05Profit after tax was Rs 12.09 crore in the six months to 30 September 2023.
Risks · 5
- 01Total borrowing rose from Rs 54.90 crore on 31 March 2021 to Rs 101.84 crore on 30 September 2023.
- 02Gold prices drive both sales and stock values, and the source puts the PAT margin at 7.76%.
- 03Its share of the organised wholesale market is small, at about 1%.
- 04Bridal jewellery demand depends on the wedding season and gold affordability. Debt to equity was 1.02 as per the source.
- 05Promoters and the promoter group held 100% before the issue and 75% after it.
Three years of numbers
All figures in ₹ crore, as reported in the RBZ Jewellers offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 234.76 | 206.84 | 154.03 | 123.74 |
| Total Income | 125.52 | 289.63 | 252.53 | 107.71 |
| Profit After Tax | 12.09 | 22.33 | 14.41 | 9.75 |
| NET Worth | 104.57 | 92.47 | 70.03 | 55.55 |
| Total Borrowing | 101.84 | 95.79 | 59.71 | 54.90 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the RBZ Jewellers RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
RBZ Jewellers IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| P/E Ratio (x) | 13.77 | 16.53 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹100 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹89.02 Cr of the issue is earmarked to named objects.
About the company
It designs and makes a wide range of antique bridal gold jewellery with jadau, meena and kundan work, and sells it on a wholesale and retail basis. It also processes and supplies such jewellery on a job work basis to national retailers.
It holds about 1% of the organised wholesale gold jewellery market in India, and also runs a retail showroom. Its promoters are Rajendrakumar Kantilal Zaveri and Harit Rajendrakumar Zaveri.
The IPO was Rs 100 crore and was entirely fresh issue. Rs 80.75 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
RBZ Jewellers IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Arihant Capital Markets Ltd.
2 issues handled2 of their issues have listed so far, and 2 opened above the issue price (average +4%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of RBZ Jewellers?
The current Grey Market Premium is ₹13.43, or 13% over the issue price.
What is the RBZ Jewellers IPO price band?
₹95 to ₹100, on a face value of ₹10.
When is the allotment?
The basis of allotment is 22 December 2023, with listing on 27 December 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
