IPO begins April 24, sets price band for Rs 2.1 bn IPO.
Mumbai-based jeweller, Tribhovandas Bhimji Zaveri, is all set to open its IPO on April 24. The subscription to the 16.66 million share issue, adding up to 25 per cent of the stake, will close on April 26. For the same, it has set a price band ranging between Rs 120 and Rs 126. The company would be using the issue proceeds for working capital.
Presently, the retailer has 14 stores across India, which it plans to increase to 58, with 26 being large format high street showrooms and 18 small format high street showrooms.