New Delhi, Dec 19 (PTI) The Initial Public Offering (IPO) of RBZ Jewellers got subscribed 2.27 times on the first day of bidding on Tuesday.

The Rs 100-crore initial share sale received bids for 1,79,64,900 shares against 79,00,000 shares on offer, according to data available with the NSE.

Also Read | SBI Clerk Prelims Exam 2023: Admit Card for Preliminary Examination of Junior Associates Likely To Be Released Soon at sbi.co.in, Know How To Download.

The portion for Retail Individual Investors (RIIs) attracted 4.53 times subscription while the category for non-institutional investors got subscribed 71 per cent.

The IPO of 1 crore equity shares has a price range of Rs 95-100 per scrip.

Also Read | DU Recruitment 2023: Vacancies Notified for 51 Assistant Professor Posts, Apply Online at colrec.uod.ac.in.

Ahmedabad-based B2B and retail jewellery firm RBZ Jewellers on Monday said it raised Rs 21 crore from anchor investors.

Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes.

Arihant Capital Markets is the manager to the offer.

The company's equity shares are proposed to be listed on the BSE and the NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)