Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

TBZ Initial Public Offer Opens on April 24

23 april 2012

Tribhovandas Bhimji Zaveri Ltd. (TBZ) aims to raise around $39 million (INR 2 billion) through its initial public offering (IPO) of 16.7 million equity shares that hits the capital market on April 24, Rapaport reported.
TBZ, which primarily sells gold jewelry and diamond-studded jewelry, is diluting 25 percent stake in the company and has fixed the price band at $2.30 to $2.50 (INR 120-INR126) per equity share for the issue. The minimum bid lot is 45 equity shares and in multiple of same. The issue closes on April 26, 2012.
“We intend to utilize the net proceeds to finance the establishment of new stores and for the incremental working capital requirements,” said Shrikant Zaveri, chairman of TBZ.
TBZ, which has a diamond-studded jewelry manufacturing unit in Mumbai, currently operates 14 showrooms in 10 cities. It plans to open an additional 43 showrooms by the end of fiscal year 2015.
“The company is looking at raising about INR 2 billion through the IPO,” an investment banker said.
TBZ in its draft prospectus filed with the capital market regulator Securities and Exchange Board of India (Sebi) stated that it plans to invest $3.7 million (INR 191.94 million) to establish new showrooms and $31.3 million (INR 1.60 billion) to meet incremental working capital requirements, among others.
The company said that it plans to open nine new showrooms in fiscal 2013 in Aurangabad, Gandhidham, Hyderabad, Nagpur, Vadodara, Valsad, Visakhapatnam and Kolkata.
CRISIL has assigned an ''average'' grade to the company’s proposed IPO.
TBZ has proposed to list its equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The book running lead managers to the issue are IDFC Capital Limited and Avendus Capital Private Limited.