Kalyan Jewellers initial public offering (IPO) To Open Tomorrow i.e. March 16, 2021


2021-03-15 10:40:46

Kalyan Jewellers IPO To Open Tomorrow

Kalyan Jewellers will utilise the IPO proceeds to fund its working capital requirements

Kalyan Jewellers India’s Rs 1,175 crore initial public offering (IPO) will open for bidding tomorrow i.e. March 16. The Warburg Pincus’ backed company’s IPO will remain open for three days, until March 18, and the shares will be available in the price band of Rs 86-87 per share. The jeweller plans to raise Rs 1,175 crore at the higher end of the price band.

The IPO comprises fresh issue of Rs 800 crore and an offer for sale (OFS) of Rs 375 crore. Investors can bid for a minimum of 172 shares and in multiples of 172 shares, up to 13 lots. A total of 35 per cent will be reserved for retail investors.

The company will utilise the IPO proceeds to fund its working capital requirements and for general corporate purposes.

Kalyan Jewellers was started by Kalyanaraman in Kerala in 1993. It’s listed peers includes Titan, Tribhovandas Bhimji Zaveri and PC Jeweller. Amitabh Bachchan and Katrina Kaif are the brand ambassadors of Kalyan Jewellers.

Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers to the issue of Kalyan Jewellers.



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