Updated: March 11, 2021 6:45:28 pm
Kalyan Jewellers IPO: The Rs 1,175 crore initial public offering (IPO) of jewellery maker Kalyan Jewellers India will open on Tuesday, March 16, 2021, and will be available for subscription till Thursday, March 18, 2021. The price band of the IPO has been fixed at Rs 86-87 per share of the face value of Rs 10 each.
Kalyan Jewellers India is a Thrissur-based premium jewellery manufacturer. It is promoted by TS Kalyanaraman, TK Seetharaman and TK Ramesh and is backed by private equity firm Warburg Pincus.
The IPO comprises a fresh issue of equity shares worth Rs 800 crore and offer-for-sale (OFS) of Rs 375 crore by the promoters and shareholders. Further, the OFS comprises selling up to Rs 125 crore worth shares by Kalyanaraman, and Rs 250 crore by Highdell Investment.
Investors who wish to subscribe to Kalyan Jewellers IPO can bid in the lot of 172 equity shares and multiples thereof. At the upper price band, they will have to shell out Rs 14,964 to get a single lot of Kalyan Jewellers. The shares will be listed on both BSE and National Stock Exchange (NSE).
As much as 50 per cent of the issue is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional bidders.
The net proceeds from the issue will be utilised for funding working capital requirements. Ahead of the public offer, the anchor investors’ portion will be available on Monday, March 15, 2021.
Axis Capital, Citigroup Global Markets India, ICICI Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers to the IPO while Link Intime India is the registrar of the issue.
Kalyan Jewellers has 137 retail stores spread across India and the Middle East, according to the information available on its website. Upon its listing, it will join the likes of Titan Company and PC Jeweller.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.