Kalyan Jewellers India Ltd IPO Opens on 16th March,2021

 

₹ 1,175 crore Kalyan Jewellers India Ltd IPO will open on March 16, 2021. The issue will close on March 18, 2021. The company has fixed the  price band at ₹ 86-87/Share. 

The public issue, backed by Warburg Pincus, comprises fresh issue of ₹ 800 crore and an offer for sale (OFS) amounting to ₹ 375 crore. Investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. A total of 35 per cent of the issue will be reserved for retail investors.

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

The bidding for anchor investors will open on March 15.

Kalyan Jewellers IPO Tentative Timetable

Kalyan Jewellers is one of India's largest Jewellery companies. The firm was started by Kalyanaraman in Kerala in 1993. The key business activities of the company is to design, manufacture, and sell a variety of gold, studded and other jewellery products for various occasions i.e. wedding, festivals, etc.

Initially, the company was started with a single showroom in Kerala, and over the years, it has expanded its presence with 107 showrooms located across 21 states and union territories in India. It not just serves the domestic market but also serves overseas customers with 30 showrooms located in the Middle East. The company generates a significant portion of revenues from gold jewellery, accounted for 74.77% in fiscal 2020 followed by studded (diamond and precious stone) and other jewellery segments.