MUMBAI, dec 27 (The CONNECT) – Shares of Ahmedabad-based Retail Jeweller RBZ Jewellers closed at Rs 105 on its debut on the exchanges.

The scrip listed Rs 100  on BSE and NSE. The company’s share price closed at Rs 105 per share on the BSE and NSE, a 5% premium.

As per NSE, the total quantity traded stood at 25.60 lakh shares, on BSE the total Quantity stood at 1.26 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 27.57 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs. 419.96 Crore as per BSE and Rs. 420.00 Crore as per NSE.

The Initial Public Offering of RBZ Jewellers Limited was subscribed 16.86 times. Retail Portion was subscribed 24.74 times, Non-Institutional Investors Portion with 9.27 times, whereas Qualified Institutional Buyer Portion subscribed 13.43 times.

RBZ Jewellers has a rich history spanning over 15 years in the jewellery industry. They specialize in designing and manufacturing a diverse range of Antique Bridal Gold Jewellery, including jadau, Meena, and Kundan work, and sell it on both wholesale and retail platforms. In addition to their own retail operations, it processes and supplies Antique Bridal Gold Jewellery on job work basis to national retailers.

RBZ Jewellers has established a customer base in the wholesale business, serving reputed national, regional, and local family jewellers across 20 states and 72 cities in India. It intends to make strong footprint in Southern India than accounts for 41% of the total jewellery demand in India

The company owns a state-of-the-art gold jewellery manufacturing facility spanning 23,966 sq ft located at Sarkhej Gandhinagar Highway, Ahmedabad. The facility enables them to design and manufacture gold jewellery under one roof.

RBZ Jewellers operates its retail showroom under the brand name “Harit Zaveri” and is an established player in Ahmedabad, Gujarat. It owns 10,417 sq. ft. of the showroom space and are admeasuring 1,250 sq. ft. on a lease basis. The company forayed into the retail business in 2014.