Commodity Trade Mantra
Quotes by TradingView

TBZ’s Rs 210-cr IPO opens on Akshaya Trithiya-Gold Buying day

Gold Buying

TBZ's IPO opens on Akshaya Tritiya – Gold Buying day

The Rs 210-crore IPO of Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) has opened for subscription today – Akshaya Tritiya day. The price band is fixed at Rs 120-126 per share. The issue will constitute 25% of the post-issue paid-up capital of the company. The IPO of about 1.66 crore equity shares with a face value of Rs 10 each will close on April 26. The company aims to raise Rs 200 crore at the lower end of price band while Rs 210 crore at the upper band. TBZ Group Head Retail Business Divyesh Shah said the company intends to use the IPO proceeds to fund expansion plans and meet working capital needs.

TBZ offers wide variety of jewellery from regions acrossIndiaand also offers jewellery from various parts of world such asItaly,TurkeyandThailand. The company retails its jewellery through 14 showrooms with total carpet area of 48,818 sq ft, in 10 cities. Of the 14 show rooms, 11 are large format high street show rooms with carpet area of 3,000 sq ft and more and the remaining three are small format high street showrooms with carpet area of 1,000-3,000 sq ft. Currently, the company has six showrooms in Maharashtra, three in Andhra Pradesh, three in Gujarat, and one each in Kerala and Madhya Pradesh. Twelve out of 14 show rooms are under lease.

The design and manufacture of jewellery is done either in house or by third parties. The company out sources manufacturing of gold jewellery by paying making charges and supplying gold to approximately 150 external jewellery manufacturers.

TBZ has subsidiaries Tribhovandas Bhimji Zaveri (Bombay) and Konfiaance Jewellery Pvt Ltd. Tribhovandas Bhimji Zaveri (Bombay), a 100% owned subsidiary of the company, manufactures diamond-studded jewellery for sale in the parent company showrooms.

Rating agency CRISIL has assigned grade 3 to the IPO, which indicates average fundamentals.

Please check back for new articles and updates at

request your views on the above article

Comments are closed.

For More details on Trade & High Accuracy Trading Tips and ideas - Subscribe to our Trade Advisory Plans. : Moneyline

follow us

markets snapshot

Market Quotes are powered by

live commodity prices

Commodities are powered by India

our latest tweets

follow us on facebook