Via anchor book, Negen Capital, PGIM India, and BofA Securities Europe purchase shares in RBZ Jewelers valued at Rs 21 crore

 Via anchor book, Negen Capital, PGIM India, and BofA Securities Europe purchase shares in RBZ Jewelers valued at Rs 21 crore

 Via anchor book, Negen Capital, PGIM India, and BofA Securities Europe purchase shares in RBZ Jewelers valued at Rs 21 crore

RBZ Jewelers Initial Public Offering (IPO): The Rs 100 crore offering will go on sale on December 19 and end on December 21.

One day before to the offer opening on December 18, Ahmedabad-based RBZ Jewelers received Rs 21 crore from three investors via its anchor book.

Subscriptions for the Rs 100 crore public offering will be accepted starting on December 19 and ending on December 21.

The gold jewelry manufacturer said in a statement to the markets that it has completed the distribution of 21 lakh equity shares to anchor investors at a price of Rs 100 per equity share.

The anchor book's three investors were BofA Securities Europe, PGIM India, and Negen Capital.

5 lakh shares of RBZ were purchased by PGIM India Equity Growth Opportunities Fund - Series I and Negen Undiscovered Value Fund, both controlled by Negen Capital. Foreign investor BofA Securities Europe SA - ODI purchased the remaining 11 lakh shares.

RBZ Jewellers aims to raise Rs 100 crore by issuing just a new issue component at the top end of the price range of Rs 95-100 per share. The company creates antique wedding gold jewelry with jadau, meena, and kundan work. As.

The business would utilize Rs 80.75 crore of the net proceeds from the new issuance for working capital needs, with the remainder amount being put aside for general corporate reasons.