Kalyan Jewelers has raised Rs 351.89 crore from some anchor investors on Monday 15 March. The company has given 4.04 crore shares to anchor investors at a price of Rs 87 per share.
The IPO of Kalyan Jewelers (Kalyan Jewelers) has opened for application on 16 March i.e. today. Investors will be able to apply in this till March 18. The price band of the company’s IPO has been fixed at Rs 86-87 per share.
Kalyan Jewelers has raised Rs 351.89 crore from some anchor investors on Monday 15 March. The company has given 4.04 crore shares to anchor investors at a price of Rs 87 per share.
The company will raise Rs 1175 crore from the issue. The company will issue Rs 800 crore fresh issue under IPO and will sell shares worth Rs 375 crore in Offer for Sale (OFS).
The company will invest the money raised through the IPO to expand its business. Kalyan Jewelers has put a lot size of 172 shares for the IPO. The company had submitted documents with the capital market regulator SEBI in August last year for listing on the BSE and NSE.
What is business
Kalyan Jewelers’ first showroom was opened by TS Kalyanraman in 1993 in Kerala. As of June 2020, the company had 107 showrooms in 21 states and union territories in India. The company has 30 showrooms in the Middle East. Apart from this, the company also sells jewelery through the online platform Candere.
50% of the IPO will be reserved for eligible institutional investors, 35% for small investors and 15% for non-institutional investors. While two crore shares will be reserved for the employees of Kalyan Jewelers. Axis Capital, Citigroup Global Market India, ICICI Securities and SBI Capital Market are global co-ordinators and book running lead managers for the offer.
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