RBZ Jewellers Limited IPO

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  1. Core Business Focus:
    • The company specializes in the design and manufacturing of Antique Bridal Gold Jewellery.
    • Products include jadau, Meena, and Kundan work, catering to bridal, occasional, and daily wear.
  2. Market Presence and Ranking:
    • One of the leading organized manufacturers of gold jewellery in India.
    • Holds approximately 1% of the total organized wholesale gold jewellery market in India.
  3. Customer Segments:
    • Sells products on both wholesale and retail bases.
    • Wholesale business caters to reputed national, regional, and local family jewellers across 20 states and 72 cities in India.
    • Operates a retail showroom under the brand name “Harit Zaveri” in Ahmedabad.
  4. Manufacturing Capabilities:
    • Operates a well-equipped and modern gold jewellery manufacturing facility in Ahmedabad, Gujarat.
    • Utilizes advanced technologies in casting, laser, and 3-D printing.
    • Has an in-house design team and a flexible, customizable manufacturing process.
  5. Product Range and Design Innovation:
    • Offers a diverse range of jewellery collections with different manufacturing techniques and varieties.
    • Specializes in Antique Gold bridal jewellery known for unique designs and craftsmanship.
    • Blends traditional Indian art and culture with contemporary designs.
    • Uses precious and semi-precious stones, including diamonds, emeralds, rubies, and pearls.
  6. Retail Operations:
    • Retail division established in 2014 under the brand name “Harit Zaveri.”
    • Offers various categories of gold, diamond, and Polki jewellery for bridal, occasional, and daily wear.
  7. Foray into Retail and Branding:
    • Expanded into retail with the aim of bringing transparency and ethical practices.
    • Focuses on establishing a strong brand name associated with trust, transparency, and innovation.
    • Engages in various marketing channels, including celebrity engagements, magazine collaborations, awareness campaigns, Pan India sales tours, and digital media.
  8. Board of Directors:
    • Supported by an experienced board of directors with diversified expertise.
    • Includes Non-Executive Independent Directors with knowledge in gems and jewellery, banking, finance, and legal fields.
  9. Business Model Strengths:
    • Complete control over the entire value chain.
    • Flexibility and customizability in the design and manufacturing process.
    • Constant innovation and a customer-centric approach to design and product quality.
  10. Supply Chain Management:
    • In-house design and manufacturing process.
    • End-to-end manufacturing setup under one roof.
    • Ability to monitor and control product quality on the supply side.
  11. History and Promoter Background:
    • Founded in 2008 by Rajendrakumar Kantilal Zaveri, Kiranben Rajendrakumar Zaveri, and Harit Rajendrakumar Zaveri.
    • Promoters have a family history in the jewellery business, with over 15 years of experience.

Objects of the RBZ Jewellers Limited IPO:

The Net Proceeds are proposed to be used as under i. Funding working capital requirements of the Company ii. General Corporate Purposes

RBZ Jewellers Limited IPO Details:

Open Date: Dec 19 2023
Close Date: Dec 21 2023
Total Shares: 10,000,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 100 Cr.
Lot Size: 150 Shares
Issue Price: ₹ 95 - 100 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 27 2023

Promoters And Management:

i. Rajendrakumar Kantilal Zaveri, aged sixty-one (61) years is the Promoter and the Chairman & Managing Director of the Company. Being the Promoter, he has been associated with the Company since the incorporation. He holds a degree in Bachelor of Commerce from Gujarat University. He has thirty-five (35) years of experience in manufacturing and trading of gold jewellery. Prior to the incorporation of the Company, he was associated with ‘Bababhai Hargovandas Zaveri’ as one of the Partner from April 01, 1992 till April 15, 2004 and he was also sole proprietor of a firm namely ‘Rajubhai Bababhai Zaveri’ from 2004 till 2011. He was awarded an appreciation award by Jewellers Association Ahmedabad, Gujarat in the year 2018. Presently, he is also a Karta of Rajendrakumar Kantilal Zaveri-HUF. ii. Harit Rajendrakumar Zaveri, aged thirty-four (34) years is the Promoter and the Joint Managing Director of the Company. He holds diplomas in graduate gemologist, graduate diamonds and graduate-colored stones from the Gemological Institute of America. Being the Promoter, he has been associated with the Company since the incorporation and has established a retail division of the Company under the name of “Harit Zaveri Jewellers” in 2014. He has over seventeen (17) years of experience in jewellery industry and has contributed to the growth of the Company. Presently, he is also a Karta of Harit Rajendrakumar Zaveri- HUF. iii. Jitendra Pratap Singh, aged sixty-two (62) years is a Non-Executive Independent Director of the Company since January 27, 2023. He holds a degree of Bachelor of Science from Kanpur University and also holds Master of Business Administration degree from University of Delhi. He has over thirty-five (35) years of experience in managing banking, spread across retail banking, business banking, SME business, commercial banking, products, processes, operations and risk management.

Financials of RBZ Jewellers Limited IPO:

Particulars ( In Lakhs )
Revenue from Operations 10,699 25,211 28,793 12,546
Other Income 72 42 170 6
Total Revenue 10,771 25,253 28,963 12,552
Cost of material consumed 4,668 14,388 13,460 4,347
Purchases of stock-in-trade 3,563 9,244 12,882 7,606
Changes in Inventories -695 -2,795 -3,775 -2,768
Employee benefits expenses 433 541 681 413
Other Expenses 685 1,156 1,768 771
EBITDA 2,116 2,719 3,946 2,183
Depreciation & Amortisation 152 140 137 66
Finance Cost 626 618 833 493
EBIT 1,964 2,579 3,809 2,117
OPM (%) 19.65% 10.77% 13.63% 17.39%
PBT 1338 1961 2977 1624
Tax 363 521 743 415
PAT 975 1441 2233 1209
NPM (%) 9.05% 5.70% 7.71% 9.64%
No.of Shares 400.00 400.00 400.00 400.00
EPS 2.43 3.60 5.58 3.02

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
RBZ Jewellers Limited 288 22 5.58 17.9 100 400
Kalyan Jewellers Limited 14,071 432 4.20 62.9 317 32,622
Senco Gold Ltd 4,076 161 28.81 36.1 749 5,815
Thangamayil Jewellery Ltd 3,153 80 29.10 35.6 1,448 3,975
D P Abhushan Limited 1,971 45 20.36 25.6 611 1,359
Titan Company Limited 40,575 3,274 36.61 97.3 3,620 3,21,325
Ashapuri Gold Ornament Limited 158 2 0.07 135.0 13 325
Sky Gold Limited 1,154 19 17.32 39.1 1,107.0 1,188
* All the data is as per FY23.

Lead Manager of RBZ Jewellers Limited IPO:

  1. Arihant Capital Markets Limited

Registrar of RBZ Jewellers Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

RBZ Jewellers Limited Block-D, Mondeal Retail Park, Near Rajpath Club, S.G. Highway Beside Iscon Mall, Ahmedabad, 380054 Phone: +91-79-29915740 Email: cs@rbzjewellers.com Websitehttps://rbzjewellers.com/

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