Tribhovandas to Launch $39 Million IPO

Mumbai-based Jewelry retailer Tribhovandas Bhimji Zaveri will launch an initial public offering (IPO) of shares on April 24, 2012, a deal that aims to raise up to 2 billion rupees.

IDFC Capital and Avendus are book running lead managers for the issue, the advertisement said. The offering will close on April 26.

Tribhovandas, which sells gold and diamond jewelry, currently has 14 showrooms across India.