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Tribhovandas Bhimji Zaveri (TBZ) - A Touch Of Gold

| 4/19/2012 9:00 PM Thursday

The first of the IPOs for FY12-13 is here. One of the oldest family-owned jewellery businesses is all set to hit the primary market to raise funds. Tribhovandas Bhimji Zaveri (TBZ) is tapping the capital market to raise approximately Rs 200 crore through the issuance of 1.66 crore equity shares at a price band of Rs 120-126. The issue opens on 24th April, 2012 and closes on 26th April, 2012. The proceeds of the issue would go into financing the establishment of new showrooms (approximately 10 per cent of the raised funds), funding the incremental working capital requirements (approximately 80 per cent of the raised funds) and the remaining towards general corporate purposes.

Rating: 47*
Issue Information
Issue Opens On 24-Apr-12
Issue Closes On 26-Apr-12
Issue Size (No. of Shares Cr) 1.66
Price Band (Rs) 120-126
Issue Route Book Building
Promoters Shrikant Zaveri, Binaisha Zaveri and Raashi Zaveri
Post Issue No. of Equity Shares(Cr) 6.66
Lead Managers IDFC Capital and Avendus
Listing BSE, NSE
Retail Portion (Cr Equity shares) 0.58
QIB Portion (Cr Equity Shares) 0.83
Non Institutional Portion (Cr Equity Share) 0.25

TBZ is a more than 145 year-old jewellery company from Mumbai, and is among those companies that have created a niche for themselves in this business. It is a trusted and well-known brand having 14 showrooms across 10 cities. Of its total revenues, around 72 per cent comes from selling gold jewellery, 25 per cent comes from selling diamond studded jewellery, while the rest comes from platinum and jadau jewellery. The gross margin in the gold segment is around 10.86 per cent, while that in the case of diamond jewellery is around 36 per cent.

*Key To Ratings
40 or lower Avoid investing
41-45 Risky
46-50 Invest with limited exposure
51-55 Investment recommended
56 and above Excellent investment

 

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