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Issue Terms
| |
---|---|
Issue price / Floor Price (Rs)
|
120-126
|
Application per share (Rs)
|
120.00
|
Minimum investment amount (Rs)
|
5,400.00
|
Minimum bid (no of shares)
|
45 shares and in multiples of 45 thereafter
|
Maximum Shares for Retail
|
1665-1575
|
Issue Date and Size
| |
---|---|
Issue opens
|
24-Apr-12
|
Issue closes
|
26-Apr-12
|
Listing on
|
BSE,NSE
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Issue size (Rs cr)
|
200-210
|
Mkt cap at issue price (Rs cr)
|
800-840
|
Shares on Offer
|
Lakhs
|
---|---|
Total shares offered
|
166.67
|
Of above, offered to public
|
166.67
|
Post-issue shares
|
666.67
|
Post-issue promoters' holding(%)
|
73.95
|
Company Financials (Rs cr)
|
2011-12-31
|
---|---|
No of months
|
9
|
Turnover
|
1,117.78
|
Net profit / (loss)
|
50.31
|
Borrowings
|
3.26
|
Lead Managers & Registrar
| |
---|---|
Lead Manager(1)
|
IDFC Capital Limited
|
E-mail
|
tbz.ipo@idfc.com
|
Lead Manager(2)
|
Avendus Capital Private Limited
|
E-mail
|
tbz.ipo@avendus.com
|
Registrar
|
Karvy Computershare Private Limited
|
E-mail
|
tbz.ipo@karvy.com
|
Company Contact Details
| |
---|---|
Company's address
|
241/43, Zaveri Bazaar, Mumbai
|
Pincode
|
400 002
|
Tel No.
|
91 22 3956 5001
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Fax No.
|
91 22 3073 5088
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Website
|
http://www.tbztheoriginal.com
|
Description
|
---|
TBZ is a jewellery retailer in India with 14 showrooms in nine cities across five states; It primarily sells gold jewellery and diamond-studded jewellery
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Objects of Issue
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---|
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Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) today fixed the price band at Rs 120-126 per share for its Rs 210-crore initial public offering, that opens for subscription on April 24.
The IPO of about 1.66 crore equity shares with a face value of Rs 10 each closes on April 26. At the lower end, the company will raise Rs 200 crore, while on the upper band it will mop up Rs 210 crore.
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.
"We are planning to utilise the fund raise to expand our retail presence. We will add another 43 new retail stores to take the total to 57 by FY15 mostly through lease agreement in 18 cities. Of this 25 will be in large store format while the rest 18 will be small stores," he told reporters here.
As per the Red Herring Prospectus, TBZ plans to open nine new large format high street showrooms in eight cities this fiscal. The company plans to open nine showrooms, one each in Aurangabad, Gandhidham, Hyderabad, Nagpur, Vadodara, Valsad, Visakhapatnam and two in Kolkata, for which it intends to deploy Rs 19.19 crore in this fiscal.
That apart, it requires additional working capital for financing the inventory in the new showrooms, for which it plans to deploy Rs 160.44 crore. IDFC Capital and Avendus are book running lead managers for the issue.
TBZ has 14 retail stores in 10 cities, of which three are owned by the company and the rest are through lease agreement, he added. He said TBZ is looking at expansion in metro, non-metro and large cities. A large amount of funds raised from the capital markets will be used for building up inventory, he added.
TBZ's inventory ratio is 65:35 gold and diamond worth Rs 500 crore. TBZ has one diamond jewellery manufacturing unit here with a total capacity of two lakh carat in 16 hours (two shifts), which can be further expanded, he said.
"We completely outsource our gold jewellery from 150 vendors from across the country," Shah said. The company also imports fine jewelleries from Italy and Turkey, he pointed out.
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