Credo Brands Marketing, RBZ Jewellers get Sebi nod for IPO
Credo Brands Marketing Ltd, the parent company of the Mufti brand, and Ahmedabad-based jewellery manufacturer RBZ Jewellers Ltd have received approval from the Securities and Exchange Board of India (SEBI) to raise funds through their respective initial public offerings (IPOs). Here’s a brief overview of these upcoming IPOs:
- Credo Brands Marketing Ltd (Mufti IPO):
- Mufti is a well-known brand in the men’s casual wear segment, offering a range of fashion apparel.
- The IPO will involve the issuance of fresh shares and an offer for sale (OFS) of existing shares by certain shareholders.
- The company aims to raise capital for various corporate purposes, including expanding its retail presence, investing in brand promotion, and reducing debt.
- Details such as the IPO size, price band, and the opening and closing dates will be provided in the draft red herring prospectus (DRHP) and the final prospectus.
- RBZ Jewellers Ltd (RBZ Jewellers IPO):
- RBZ Jewellers is a jewellery manufacturer based in Ahmedabad, specializing in crafting a wide range of traditional and contemporary jewellery designs.
- The IPO will involve the issuance of fresh shares to raise capital for business expansion, including opening new showrooms and other corporate purposes.
- Specific details regarding the IPO, including the size, price range, and timelines, will be available in the prospectus.
Both IPOs have received SEBI’s approval, indicating that they have met the necessary regulatory requirements. Investors and market participants will closely watch for further announcements, including the launch dates and price bands for these IPOs, to make informed investment decisions.
Credo Brands Marketing Ltd’s initial public offering (IPO) is structured as an offer for sale (OFS), meaning that it involves the sale of existing shares by promoters and other existing shareholders to the public. In this case, the IPO will comprise up to 19.63 million shares being offered by these shareholders.
Investors interested in the IPO will have the opportunity to purchase shares from the selling shareholders who are offloading their holdings. The company itself will not raise any fresh capital through this IPO, as the proceeds will go to the existing shareholders who are selling their shares.
The specific details of the IPO, including the price range at which the shares will be offered, the opening and closing dates for subscription, and other relevant information, will be disclosed in the company’s prospectus, which is typically known as the draft red herring prospectus (DRHP) or red herring prospectus (RHP). Potential investors should carefully review the prospectus and consider their investment decisions accordingly.
In the Credo Brands Marketing Ltd IPO, the promoters and promoter group members collectively hold a stake of over 67% in the company. This indicates that the majority of the company’s ownership is with these entities.
As mentioned in the draft papers, Credo Brands will not receive any proceeds from the IPO. Instead, the funds raised through the IPO will go to the existing shareholders who are selling their shares to the public.
DAM Capital Advisors Ltd., ICICI Securities Ltd., and Keynote Financial Services Ltd. have been appointed as the book running lead managers for the IPO, responsible for managing and overseeing the offering. Link Intime India Private Ltd. will serve as the registrar to the offer, helping with the IPO’s administrative tasks.
Investors considering participation in the IPO should carefully review the final offer document, which will provide detailed information about the IPO’s terms, including the price range, subscription dates, and other relevant details.
RBZ Jewellers Ltd, an Ahmedabad-based jewellery manufacturer, is planning to raise funds through its initial public offering (IPO). The IPO will consist of a fresh issue of 10 million equity shares. According to the draft red herring prospectus (DRHP), approximately ₹80.75 crore of the IPO proceeds will be allocated for working capital requirements and general corporate purposes.
The company’s IPO plans were initiated when it filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) in June.
For managing and overseeing the offering, Arihant Capital Markets Ltd. has been appointed as the sole book running lead manager. Additionally, Bigshare Services Private Ltd. will serve as the registrar to the offer, assisting with administrative tasks related to the IPO.
RBZ Jewellers has its roots in a family gold business founded by Bababhai Hargovandas Zaveri. The company owns a modern gold jewellery manufacturing facility covering an area of 23,966 square feet, situated at Sarkhej Gandhinagar Highway in Ahmedabad.
