Tribhovandas Bhimji IPO : CRISIL gives grade 3 out of 5

by khalid on 03/03/2012 · 0 comments


Tribhovandas Bhimji Zaveri Limited IPO has got 3 out of 5 by CRISIL Research (rating agency) and this rating/grading is ‘Average’ for a jewellery retail chain company. The grade 3 indicates that the fundamentals of the IPO are ‘Average’ compared to the other listed securities in India. Tribhovandas Bhimji Zaveri Limited is one of the leading Indian jeweller and jewellery retail chain based in Mumbai. The company has 14 showrooms under “Tribhovandas Bhimji Zaveri” brand, for gold jewellery and diamond studded jewellery. Apart from that it has two designer boutiques under “Krsala”, where its sells jadau and diamond-studded jewellery.The company has plans to open another 44 showrooms by fiscal 2014.

The proceeds of the IPO are proposed to be utilized for setting up new showrooms and for meeting working capital requirements. Before this jewellery retail chain IPO, Thangamayil, Shree Ganesh, C.Mahendra Exports and Goenka Diamond tapped the market last year.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Book running lead managers (BRLM) to the issue are IDFC Capital Limited and Avendus Capital Pvt Limited.

Registrar of the Issue : Karvy ComputerShare Private Limited, Hyderabad.

Stay tuned to BelltheBull Blog for more on Tribhovandas Bhimji Zaveri Limited IPO !

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