Kalyan Jewellers IPO Fully Subscribed On Second Day

2021-03-17 11:05:43

Kalyan Jewellers IPO Fully Subscribed On Second Day

Kalyan Jewellers share sale via initial public offering (IPO) was fully subscribed on second day of the issue. Kalyan Jewellers’ Rs 1,175 crore IPO was subscribed 1.07 times till 4:20 pm on the seond day, data from National Stock Exchange showed. Portion reserved for retail investors was subscribed 99 per cent, portion reserved for non-institutional bidders was subscribed 9 per cent and portion for qualified institutional buyers was subscribed 24 per cent.

Warburg Pincus’ backed Kalyan Jewellers is selling shares in the price band of Rs 86-87 per share, which will fetch the company Rs 1,175 crore at the higher end of the price band.

The primary market offer consists of a fresh issue of Rs 800 crore and an offer for sale of Rs 375 crore. Bids can be placed for a minimum 1 lot of 172 shares and in multiples of 172 shares, up to 13 lots.

Kalyan Jewellers will use the proceeds from the share sale for funding its working capital requirements and for general corporate purposes.

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

Among other IPOs Nazara Technologies was witnessing huge demand as the issue was subscribed over 3 times within hours of opening.

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