Ahmedabad-based retail jewellery firm RBZ Jewellers' IPO opened for subscripttion on Tuesday. According to BSE, the issue has been subscribed 1.02x times at 12.38 pm.
The three-day IPO will end its subscripttion on December 21. The IPO comprises a fresh issue of 1 crore equity shares with no offer for sale component.The company is planning to raise ₹100 crore through this IPO at the upper end of the price band.
IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.
Its revenue from operations rose 14 per cent to ₹289.6 crore in fiscal 2023 from ₹252.5 crore in fiscal 2022.
Besides, profit after tax surged 55 per cent to ₹22.43 crore in fiscal 2023 from ₹14.48 crore in the preceding financial year.
By
HT News Desk
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