IPO Details

Bidding Dates

19 Dec '23 - 21 Dec '23

Minimum Investment

₹15,000 / 1 Lots ( 150 Shares )

Price Range

₹95 - ₹100

Maximum Investment

₹195,000 / 13 Lots ( 1950 Shares )

Retail Discount

Not Applicable

Issue Size

₹100.00 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 19, 2023

IPO Closing Date

Dec 21, 2023

Basis of Allotment

Dec 22, 2023

Initiation of Refunds

Dec 26, 2023

Credit of Shares to Demat Account

Dec 26, 2023

IPO Listing Date

Dec 27, 2023

UPI Mandate Expiry Date

Dec 18, 2023

IPO Subscription Details


Day 1Dec 19, 2023

0.00x 0.71x 4.60xx 2.31x

Day 2Dec 20, 2023

0.00x 0.97x 6.37x 3.19x

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 0.00
Non-Institutional Buyers 0.97
Retail Investors 6.37
Total 3.19

About Company

RBZ Jewellers is a 15-year-old, organised manufacturer of gold jewellery in India, specialising in antique bridal gold jewellery and distributing to reputable retailers across India. They hold roughly 1% of the total organised wholesale gold jewellery market in India. They design as well as manufacture a wide range of antique bridal gold jewellery such as jadau, meena and kundan work and sell it on both wholesale and retail basis. They also process and supply antique bridal gold jewellery to national retailers on a job-work basis. 

Their customer base in the wholesale segment includes reputed national, regional and local family jewellers spread across 20 states and 72 cities within India. The company also operates its own retail showroom under the brand name ‘Harit Zaveri’ in Ahmedabad, where it is an aestablished player. Jewellery products include bridal, occasional and daily wear at various prices in their retail showroom. They also export the jewellery to the Middle East. They carry out their manufacturing operations from a modern facility situated in Ahmedabad, with advanced technologies in casting, laser and 3D printing. 

In value terms, the wholesale gold jewellery industry size is expected to increase at a CAGR of 6.4% to ₹2,340 billion in 2030. The sector is, however, highly fragmented, with only 32% of the gold jewellery market being organised. This presents an opportunity for the growth of organised players.

RBZ Jewellers Ltd IPO Details

RBZ Jewellers Ltd IPO Date

The dates for bidding for the RBZ Jewellers IPO are Tuesday, December 19, 2023, to Thursday, December 21, 2023.

RBZ Jewellers Ltd IPO Price Band

RBZ Jewellers is a book-built IPO. The exact price range is yet to be announced.

RBZ Jewellers Ltd IPO Lot Size

The RBZ Jewellers Ltd IPO lot size is yet to be announced.

RBZ Jewellers Ltd IPO Objectives 

The net proceeds from the issue are proposed to be utilised towards the following objects: 

  1. Funding working capital requirements 
  2. General corporate purposes

Peer Details

Some of the peer companies of RBZ Jewellers include:

  1. Kalyan Jewellers Ltd
  2. Senco Gold Ltd
  3. Thangamayil Jewellery Ltd
  4. D. P. Abhushan Ltd
  5. Titan Company Ltd
  6. Ashapuri Gold Ornament Ltd
  7. Sky Gold Ltd

How To Check the Allotment Status of the RBZ Jewellers Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of RBZ Jewellers Ltd 

Registered office: Block-D, Mondeal Retail Park, Near Rajpath Club, S.G. Highway, Beside Iscon Mall, Ahmedabad, Gujarat-380054, India

Phone: +91-79-69135737

E-mail: cs@rbzjewellers.com

Company Financials

Particulars ( ₹ in lakh ) Year Ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 28,962.62 25,252.66 10,770.65
Profit After Tax 2,233.31 1,440.57 974.82
Return on Capital Employed 20.08% 19.06% 16.82%
Debt Service Coverage Ratio 2.59 2.78 2.66
Current Ratio 2.02 1.96 1.96

Know before investing


  1. They have their own manufacturing facility with artisans and technology for laser cutting, engraving, and casting. They have progressive dyes, hydraulic press dyes and also an in-house 3D printing machine for better designs.

  2. With a wide customer base across 20 states, their offerings include a diverse range of antique, bridal, traditional, contemporary and combination designs across price points. They have a product range that caters to all ages and genres of customers, incorporating the tastes and preferences of different regions.

  3. Their promoter, Mr Rajendrakumar Kantilal Zaveri, has more than 35 years of experience in the jewellery industry. His extended experience gives the company both knowledge and network advantages.


  1. They do not currently have exclusive or fixed supply arrangements with any of their suppliers of gold, though they are dependent on a few suppliers. Their top 10 suppliers covered 62.35% of their gold supplies in FY 2023. This makes their supply chain vulnerable to a loss or delay in supplies from even a single major supplier.

  2. They faced negative cash flows in H1 FY 2024 and FY 2023, and they may face such negative cash flows in the future as well. This may affect the financial health of the company.

  3. They operate their manufacturing from a single facility in Ahmedabad. Their retail outlet is also in Ahmedabad. Any disruption in the operations in these centres can significantly disrupt the company's overall revenue.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

RBZ Jewellers Ltd IPO FAQs

What is RBZ Jewellers Ltd's IPO?

RBZ Jewellers IPO is a book-built IPO. The dates for the IPO are Tuesday, December 19, 2023 to Thursday, December 21, 2023.

When will RBZ Jewellers Ltd's IPO be allotted?

The basis of allotment will be finalised on Friday, December 22, 2023. The credit of shares to the demat accounts will take place on Tuesday, December 26, 2023.

When will RBZ Jewellers Ltd's IPO open for subscription?

The IPO subscription window is Tuesday, December 19, 2023, to Thursday, December 21, 2023.

What minimum lot size can retail investors subscribe to?

The minimum lot size for the IPO is 150 shares.

When will RBZ Jewellers Ltd list on exchanges?

RBZ Jewellers Ltd will be listed on the BSE and NSE on Wednesday, December 27, 2023.

What would be the listing gains on the RBZ Jewellers Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Wednesday, December 27, 2023.

I have finished the application process for the RBZ Jewell

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for RBZ Jewellers Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.


Can I submit more than one application for the public issue of RBZ Jewellers Ltd using one PAN?

You can submit only one application using your PAN card.