Kalyan Jewellers IPO subscribed 1.41 times, QIB fragment booked 65% on final day

Kalyan Jewellers IPO: The firm is planning to raise Rs 800 crore via fresh utter and Rs 375 crore via provide available on the market route

March 18, 2021 / 05: 58 PM IST

The Rs 1,175-crore initial public offering of Kalyan Jewellers has witnessed a 2.61 times subscription to this level on the final day of bidding, March 18. The difficulty opened on March 16.

The public provide has obtained bids for 24.95 crore equity shares against the IPO dimension of 9.57 crore equity shares, the subscription details on hand on exchanges confirmed.

The IPO dimension used to be diminished after the firm raised Rs 351.89 crore from anchor investors on the elevated discontinue of the price band of Rs 86-87 per portion on March 15, a day sooner than the utter opening.

The reserved fragment of qualified institutional merchants is subscribed 2.76 times and that of non-institutional investors is booked 1.91 times. Retail investors place apart in bids 2.82 times bigger than their reserved fragment, while staff fragment used to be subscribed 3.74 times.

Kalyan Jewellers is planning to raise Rs 800 crore via fresh utter and Rs 375 crore via provide available on the market route. The get fresh utter proceeds are going to be old for working capital requirements.

The firm is indisputably among the top jewellery corporations in India in accordance with income as of March 2020. Company operates its jewellery industry via 107 showrooms located all over 21 states and union territories in India, and 30 showrooms within the Heart East as of December 2020.

Additionally learn our in-home learn narrative on Kalyan Jewellers

Taking a sight on the monetary performance, Hem Securities recommends that simplest investors with excessive-probability speed for food can enjoy to composed subscribe to the utter for brief term, Hem Securities said.

Additionally learn - Kalyan Jewellers IPO: 10 stuff that you might enjoy to composed know

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