Kalyan Jewellers India does not require an introduction as they are the country’s largest jewellers. Kalyan Jewellers wants to raise Rs 1,175 crore through an initial public offer (IPO) of shares. The IPO will open for subscription today (March 16). The company has fixed a price band of Rs 86-87 per share. The IPO will close on March 18 (Thursday). Kalyan Jewellers IPO Subscription weak Grey market premium.
Key Details
| Issue open | March 16, 2021 |
| Issue closes | March 18, 2021 |
| Face value | Rs 10 apiece |
| Minimum bid size | 172 |
| Listing | BSE and NSE |
Kalyan Jewellers IPO Subscription weak Grey market premium
The company raises Rs 352 crore from anchor investors, Ahead of the public issue. Shares were allotted at the upper end of the price band at Rs 87 per share. The anchor investors include the Government of Singapore, Monetary Authority of Singapore, HDFC Life Insurance Co Ltd, and BNP Paribas Arbitrage.
The Rs 1,175-crore IPO comprises fresh equity shares aggregating up to Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore.
Kalyan Jeweller’s promoter T S Kalyanaraman will sell shares worth up to Rs 125 crore, while Highdell Investment Ltd, an affiliate of Warburg Pincus, would sell up to Rs 250 crore worth of shares through the offer for sale (OFS) route.
Kalyan Jewellers filed the preliminary papers for IPO in August 2020 and obtained SEBI’s go-ahead in October 2020.
By June 2020, the company had 107 showrooms across 21 states and Union Territories in India, and 30 showrooms in the Middle East. Kalyan Jewellers designs, manufactures, and sells a wide range of gold, studded and other jewellery products.
Kalyan Jewellers IPO Subscription weak Grey market premium
“We recommend a subscribe rating on the issue,” Angel Broking mentioned in a note.
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