RBZ Jewellers IPO receives 16.86 times subscription on last day of offer

New Delhi: The Rs 100 crore-initial share sale of RBZ Jewellers received 16.86 times subscription on the closing day of bidding on Thursday.

The Initial Public Offering (IPO) got bids for 13,31,88,450 shares against 79,00,000 shares on offer, as per NSE data.

The quota for Retail Individual Investors (RIIs) received 24.74 times subscription while the Qualified Institutional Buyers (QIBs) part fetched 13.43 times subscription. The category for non-institutional investors got subscribed 9.27 times.

The offer of 1 crore equity shares had a price range of Rs 95-100 apiece.

The 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 was the manager to the offer.

The company's equity shares are proposed to be listed on BSE and NSE.