The company allocated 21 lakh equity shares at Rs 100 per share to anchor investors. PGIM India Fund, BOFA Securities and Negen Undiscovered Value Fund among others were the buyers.
The IPO is completely a fresh issue of 1 crore shares. There is no offer for sale (OFS) segment in the public offer. RBZ Jewellers has priced its public offer in the range of Rs 95-100 and at the upper end, it plans to raise Rs 100 crore.
About 50% of the offer will be available for allocation on a proportionate basis to qualified institutional buyers (QIBs), 15% for non-institutional bidders and 35% for retail investors.
RBZ Jewellers is an antique gold jewellery maker with a history spanning over 15 years in the industry. It specializes in designing and manufacturing a diverse range of antique gold jewellery, including jadau, meena, and kundan work, which they sell on both wholesale and retail platforms.
Arihant Capital Markets is the sole book running lead manager and Bigshare Services is the registrar to the issue.
Meanwhile, Mumbai-based Credo Brands has garnered Rs 165 crore from marquee anchor investors ahead of its issue launch. Foreign and domestic long-only institutions who participated in the anchor round were Nippon Mutual Fund, HSBC Mutual Fund, Aditya Birla Sunlife Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Integrated Core Strategies (Asia), Morgan Stanley Asia, SBI General Insurance, JM Mutual Fund, Subhkam Ventures and Reliance General Insurance.
Out of the total allocation of 58.9 lakh equity shares to the anchor investors, 24.99 lakh shares were allocated to domestic mutual funds through a total of 3 schemes amounting to Rs 70 crore which is 42.4% of the total anchor book size.
The issue is completely an offer for sale of 1.96 crore shares. Since the IPO is an OFS, the proceeds will entirely go to the selling shareholders and not the company.
About 50% is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
DAM Capital, ICICI Securities and Keynote Financial Services are the book running lead managers and Link Intime India is the registrar to the offer.
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