Kalyan Jewellers IPO: Kalyan Jewellers India Ltd on Thursday fastened a price band of Rs 86-87 a share for its Rs 1,175 crore-initial share-sale, which can open for public subscription on March 16.
The three-day public issue would conclude on March 18 and the bidding for anchor traders would open on March 15, Kalyan Jewellers introduced in a digital press meet.
The preliminary public supply (IPO) includes issuance of contemporary fairness aggregating up to Rs 800 crore and a proposal on the market (OFS) price Rs 375 crore.
Kalyan Jewellers’ promoter T S Kalyanaraman could be offloading shares price up to Rs 125 crore, whereas Highdell Investment Ltd, an affiliate of Warburg Pincus, would promote up to Rs 250 crore price of shares by way of the OFS route.
Half of the issue is reserved for certified institutional consumers, 35 per cent for retail traders and 15 per cent for non-institutional bidders.
Proceeds from the contemporary issue of shares could be utilised for working capital necessities and basic company function.
At the tip of June 2020, the corporate had 107 showrooms throughout 21 states and union territories in India, and 30 showrooms within the Middle East. Kalyan Jewellers designs, manufactures and sells a variety of gold, studded and different jewelry merchandise.
Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the worldwide co-ordinators and guide operating lead managers to the supply. Last month, the capital markets watchdog had sought clarification from the service provider banker concerning the corporate’s public issue.
Kalyan Jewellers, which filed preliminary papers for IPO in August, obtained Sebi’s go forward in October.
(Witj PTI inputs)
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