RBZ Jewellers Shares Debut At Par With Issue Price; Later Climb 5 Pc To Touch Upper Circuit Level
Shares of RBZ Jewellers Ltd made a flat market debut on Wednesday listing at par with the issue price of Rs 100.
The stock listed at Rs 100 on the BSE and NSE.
Later, shares of the company climbed 4.99 per cent to Rs 104.99 -- its upper circuit level -- on the BSE.
On the NSE, the stock jumped to its highest trading permissible limit for the day at Rs 105, up 5 per cent.
The company's market valuation stood at Rs 419.96 crore.
The Rs 100-crore initial share sale of RBZ Jewellers received 16.86 times subscription on the closing day of bidding on Thursday.
The Initial Public Offering (IPO) of 1 crore equity shares had a price range of Rs 95-100 apiece. The Ahmedabad-based company is a B2B and retail jewellery firm.