RBZ Jewellers allotment to be finalised soon: how to check status, GMP details

RBZ Jewellers IPO Allotment Status: The initial public offering (IPO) RBZ Jewellers concluded on Thursday, December 21, and had witnessed strong demand from investors. The RBZ Jewellers IPO allotment will be finalised soon. Investors will be able to check their allotment status on the issue's registrar Bigshare Service website as well as on BSE.

The ₹100 crore initial public offer (IPO) of RBZ Jewellers was open for subscription between December 19 and December 21 at a price band of ₹95-100.

Read here: Shanti Spintex IPO allotment to be finalised today; here’s how to check share application status

Applicants in the public offer can find out if they have been issued shares, through the basis of allotment. The number of shares allotted can also be seen in the IPO allotment status.

The company will initiate refunds to the applicants who have not been issued shares, while crediting the shares on the demat accounts of those getting allotted. Suraj Estate IPO listing date is scheduled for Tuesday, December 27, on BSE and NSE.

Steps to check RBS Jewellers IPO allotment status on Registrar website

Step 1 - Visit the registrar Bigshare Service’ website by clicking this link: https://www.bigshareonline.com/ipo_Allotment.html

Step 2 - Select the company name “RBZ Jewellers" in the “Select IPO" dropbox.

Step 3 - Select one of the three options to check the status: Application No, Demat Account or PAN.

Step 4 - Enter the details as per the option selected.

Step 5 - Enter the Captcha and click Submit.

Your Suraj Estate IPO allotment status will appear on the screen.

You can also check the RBZ Jewellers IPO allotment status on the BSE website.

Steps to check RBZ Jewellers IPO allotment on BSE website:

Step 1 - Visit the allotment page on BSE's official website - https://www.bseindia.com/investors/appli_check.aspx

Step 2 - Under ‘Issue Type’, select ‘Equity’

Step 3 - Choose the IPO from the drop-down option under ‘Issue Name’.

Step 4 - Enter PAN or application number.

Step 5 - Click on ‘I am not a Robot’ to confirm your identity, then hit the ‘Submit’ button.

RBZ Jewellers IPO GMP Today

The company's shares in the grey market continued trading at 0, indicating no premium versus IPO price at listing. It was the same in the previous session (December 21) as well, down from ₹5 on December 20 and ₹30 on December 19.

However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

Read here: Suraj Estate IPO allotment finalised. GMP, how to check status on BSE, registrar's website

RBZ Jewellers IPO Subscription

The issue witnessed a stellar response and was subscribed 16.86 times in the 3 days of bidding. It received bids for 13.31 crore shares as against 79 lakh shares on offer. The retail investor portion was subscribed the most, 24.74 times followed by the Qualified Institutional Buyers (QIBs) category, which was bid 13.43 times. Meanwhile, the Non-Institutional Investors (NII) quota was booked 9.27 times

RBZ Jewellers IPO Details

The IPO is completely a fresh issue of 1 crore shares. There is no offer for sale (OFS) segment in the public offer worth ₹100 crore. The firm plans to utilise ₹80.75 crore to meet working capital requirements. Additionally, up to 25 percent of the gross proceeds will be allocated for general corporate purposes.

Arihant Capital Markets is the book-running management of the IPO, and Bigshare Services is the registrar of the offer.

Read here: RBZ Jewellers': Key things to know before subscribing

Ahead of the launch, the company has raised ₹21 crore from anchor investors. The company allocated 21 lakh shares at ₹100 per share to three anchor investors - PGIM India Equity Growth Opportunities Fund, BOFA Securities Europe SA, and Negen Undiscovered Value Fund.

Established in April 2008, RBZ Jewellers specializes in crafting antique gold jewelry. It is a well-known company in Ahmedabad, Gujarat, and runs its retail store under the "Harit Zaveri" brand. The company is strategically looking to establish a strong presence in Southern India, which accounts for 41 percent of the total jewelry demand in the country. It occupies 10,417 square feet of the showroom, while the remaining 1,250 square feet are leased.