HSBC, Credit Suisse Invests R30Cr in TBZ
HSBC and Credit Suisse has invested around R30Cr in Mumbai-based Tribhovandas Bhimji Zaveri Limited through anchor investment.
Three investors - HSBC Global Investment Funds, HSBC India Alpha (Mauritius) and Credit Suisse subscribed to 24,99,999 equity shares at lower end of price band of R120-126 a share.
IPO of TBZ has opened for subscription today. The issue, which closes on April 26, consists of 1.66 crore equity shares.
The IPO proceeds will be used for setting up new showrooms and for working capital needs.
IDFC Capital Limited and Avendus Capital are the book running lead managers to the issue.
Established in 1864, Tribhovandas Bhimji Zaveri is a manufacturer and seller of gold and diamond studded jewellery.
It has 14 showrooms in nine cities across five states in India and is planning to open additional 44 showrooms (26 large format high street showrooms and 18 small format high street showrooms) by the end of fiscal 2014. It has its manufacturing unit located in Kandivali, Mumbai and has a total of 904 employees as on September 30, 2010.
It has 12 showrooms under the trade name of ‘Tribhovandas Bhimji Zaveri’ and has two designer boutiques under the trade name ‘Krsâla’, which predominately sell jadau and diamond studded
jewellery.
Its listed peers include Gitanjali Gems, Thangamayil Jewellery among others.
Performance of Peers On BSE
Currently, promoters - Shrikant Zaveri, Binaisha Zaveri, Raashi Zaver and promoter group together hold 98.60% stake in the company.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-03-22 | Tribhovandas Bhimji Zaveri - HSBC Global (Part Exit) | Capital Market | 5.85 | |
| 2012-04-24 | Tribhovandas Bhimji - HSBC, Credit Suisse | IPO / Offerings |
Credit Suisse (International) Holding AG HSBC Global Investment Fund A/c HSBC Global Investment Fund Mauritius Limited |
5.68 |
| 2011-01-27 | Tribhovandas Bhimji - IPO | IPO / Offerings | - |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Tribhovandas Bhimji Zaveri Limited |
Shri Bhimji Zaveri Shrikant Zaveri Binaisha Zaveri Raashi Zaveri |
241/43, Zaveri Bazaar |
Danabhai Jewellers Private Limited Popley Diamond And Gold Plaza Private Limited |
http://www.tbztheoriginal.com |
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