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RBZ Jewellers shares debut at par with issue price; later climb 5% to touch upper circuit level

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NewsDrum Desk
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New Delhi: Shares of RBZ Jewellers Ltd made a flat market debut on Wednesday listing at par with the issue price of Rs 100.

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The stock listed at Rs 100 on the BSE and NSE.

Later, shares of the company climbed 4.99 per cent to Rs 104.99 -- its upper circuit level -- on the BSE.

On the NSE, the stock jumped to its highest trading permissible limit for the day at Rs 105, up 5 per cent.

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The company's market valuation stood at Rs 419.96 crore.

The Rs 100-crore initial share sale of RBZ Jewellers received 16.86 times subscription on the closing day of bidding on Thursday.

The Initial Public Offering (IPO) of 1 crore equity shares had a price range of Rs 95-100 apiece. The Ahmedabad-based company is a B2B and retail jewellery firm.

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