Tribhovandas Bhimji Zaveri (TBZ) IPO : Files DRHP with SEBI

by khalid on 29/01/2011 · 3 comments

Mumbai based Tribhovandas Bhimji Zaveri Limited (TBZ) has informed the share market (BSE/NSE) that they have planning to enter the capital market with its maiden public issue of 16,660,000 equity shares of Rs 10 each. The issue constitutes 25% post issue paid up capital of the company. The company has filed a Draft Red Herring Prospectus (DRHP) on 21st January 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO launching date is depend on the market conditions as per company sources. Tribhovandas Bhimji Zaveri is a manufacturer and seller of gold and diamond studded jewellery. It has 14 showrooms in nine cities across five states in India and is planning to open additional 44 showrooms (26 large format high street showrooms and 18 small format high street showrooms) by the end of fiscal 2014. It has its manufacturing unit located in Kandivali, Mumbai and has a total of 904 employees.

The proceeds of the IPO amount would be used by the management to setting up new showrooms and for working capital needs.

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 to the issue are IDFC Capital Limited and Avendus Capital.

Registrar of the Issue : Karvy Computershare Private Limited.

Recently, Dimaond Jewellery firm C Mahendra Exports raised Rs.165 Cr through issue of 1.5 Cr equity shares at an issue price of Rs.100 per share.

Stay tuned to BelltheBull Blog for more news on Tribhovandas Bhimji Zaveri (TBZ) IPO !

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ramnathsaw May 9, 2011

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