Before IPO, Kalyan Jewellers mobilises Rs 352 crore

The firm' IPO committee has made up our minds to allocate 4,04,48,275 shares at Rs 87 per share to 15 anchor investors. At this tag, the agency garnered Rs 351.89 crore.

PTI

March 15, 2021 / 11: 19 PM IST

Kalyan Jewellers. | Representative Image

Kalyan Jewellers. | Representative Image

Kalyan Jewellers India Ltd on Monday raised Rs 352 crore from anchor investors sooner than its initial fragment-sale, which opens for public subscription on Tuesday. The firm' IPO committee has made up our minds to allocate 4,04,48,275 shares at Rs 87 per share to 15 anchor investors. At this tag, the agency garnered Rs 351.89 crore,Kalyan Jewellers informed BSE.

The anchor investors encompass the Executive of Singapore, Monetary Authority of Singapore, HDFC Existence Insurance protection Co Ltd, and BNPParibas Arbitrage. The Rs 1,175-crore initial public offer (IPO) includes issuance of fresh equity aggregating up to Rs 800 crore and a proposal within the marketplace (OFS) worth Rs 375 crore.

Laxmi Natural Industries IPO subscribed 2.28 times, retail part booked 4.34 times on Day 1

Kalyan Jewellers' promoter T S Kalyanaraman will offload shares worth up to Rs 125 crore, while Highdell Investment Ltd, an affiliate of Warburg Pincus, would promote up to Rs 250 crore worth of shares via the OFS route. The subject, with a tag band of Rs 86-87 a fraction, will delivery be delivery for public subscription for the length of March 16-18.

Half of of the subject has been reserved for certified institutional investors, 35 per cent for retail investors and 15 per cent for non-institutional bidders. Proceeds from the fresh subject of shares will be utilised for working capital requirements and standard company reason.

At the tip of June 2020, the firm had 107 showrooms all over 21 states and Union Territories in India, and 30 showrooms within the Heart East. Kalyan Jewellers designs, manufactures, and sells a monumental desire of gold, studded and diverse jewellery products. Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and e book operating lead managers to the offer. Closing month, the capital markets watchdog had sought clarification from the merchant banker concerning the firm's public subject.

Kalyan Jewellers, which filed preliminary papers for IPO in August, obtained Sebi's go forward in October.

Learn More

Website Designed & SEO done by KV TechMedia - Web Design Company Uttar Pradesh, India
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram