One of India’s leading jewellery chains, Kalyan Jewellers, has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India. The company is looking to generate around Rs. 1,750 crores from the sale of its shares through this IPO. Here are some of the most important Kalyan Jewellers IPO details.
About the company
Formally incorporated in the state of Tamil Nadu in the year 2009, Kalyan Jewellers started off humbly as a small sole proprietorship firm in Thrissur. Over the many years, the retail jewellery chain has managed to build a strong brand presence throughout India and abroad. As a matter of fact, Kalyan Jewellers possesses more than 200 outlets across the entire world, with around 107 showrooms in India and around 30 in the Middle Eastern Region.
The company enjoyed a strong revenue inflow of around Rs. 101,009.18 million in the fiscal year 2020 alone. Out of the total revenue generated in the year, around 78.19% came from the company’s Indian operations, whereas the remaining 21.81% was from the company’s middle eastern showroom outlets. The Rs. 1,750 crore IPO from Kalyan Jewellers is the biggest public issue in the last three years.
Details of the Kalyan Jewellers IPO
Now that you’re acquainted with the company, let’s take a look at some of the important details of the upcoming Kalyan Jewellers IPO, such as the Kalyan Jewellers IPO date and the Kalyan Jewellers share price band.
Kalyan Jewellers IPO date
The opening date of the upcoming IPO from Kalyan Jewellers is 16th March, 2021 and the closing date is March 18th March, 2021. More details of the same may be unveiled when the company files its Red Herring Prospectus
Kalyan Jewellers IPO size
According to the Draft Red Herring Prospectus filed by the company with SEBI, the total Kalyan Jewellers IPO size is likely to be around Rs. 1,750 crores. This latest IPO issue from the company comprises a fresh issue component as well as an Offer for Sale (OFS) component.
The company is likely to net around Rs. 1,000 crores from the sale of the fresh issue of shares from this upcoming IPO, with the quantum of the equity shares being sold not being notified as of yet.
Furthermore, the promoters of the company, HIGHDELL INVESTMENT LTD. and Mr. T. S. Kalyanaraman, would also be selling around Rs. 500 crores and Rs. 250 crores worth of shares via the OFS component of this issue.
Kalyan Jewellers IPO share price
The latest IPO with a price band of ₹86-87 per share.
Kalyan Jewellers IPO listing
The Kalyan Jewellers IPO is proposed to be listed on both the premier stock exchanges of the country, namely the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company has also received in-principle approvals from both these stock exchanges.
Kalyan Jewellers IPO objectives
The net proceeds received from the new IPO is proposed to be utilised by the company for funding its working capital requirements and for general business purposes.
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