Kalyan Jewellers IPO Aims to Raise $161 Million

Kalyan Jewellers IPO Aims to Raise $161 Million

Kalyan Jewellers India Limited will open its initial public offer (IPO) of equity shares of face value of ₹10 each on 16th March, 2021. The offer will close on 18th March, 2021. The price band of the offer has been fixed at ₹86 to ₹87 per equity share. Bids can be made for a minimum of 172 equity shares and in multiples of 172 shares thereafter.

The company plans to raise ₹11,750 million (~$161 million) through the IPO to fund its working capital requirements and for general corporate purposes. The offer comprises a fresh issue aggregating up to ₹8,000 million, an offer for sale worth ₹3,750 million, which includes the sale of equity shares valued at ₹1,250 million by Promoter, Chairman and Managing Director, T.S. Kalyanaraman.

The offer also includes a reservation aggregating up to ₹20 million, for subscription by eligible employees

Axis Capital Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Global Co-ordinators and Book Running Lead Managers to the offer. BOB Capital Markets Limited is the Book Running Lead Manager.

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.