TBZ IPO subscribed 6% on Day 1

The initial public offering (IPO) of jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) received six per cent subscription on the first day of the issue with most bids coming in from wealthy investors. The 16.66 million shares on offer are priced between Rs 120 and Rs 126 per share. The IPO closes on April 26.