RBZ Jewellers gets SEBI`s go-ahead to raise funds via IPO
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RBZ Jewellers has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The equity shares are proposed to be listed on the BSE and the NSE.
The company, which filed the draft red herring prospectus with the SEBI in June 2023, got the regulator’s approval on September 28, 2023. Proceeds from the issue will be utilised to the extent of Rs 80.75 crore for funding working capital requirements of the company and general corporate purposes. Arihant Capital Markets is the sole book-running lead manager to the issue.
The company is one of the leading organized manufacturers of gold jewellery in India, specializing in Antique Gold Jewellery.
