Kalyan Jewellers will open its three-day initial public offering (IPO) worth Rs 1,175 crore on Tuesday (March 16) and will conclude it on Thursday (March 18). The public offering consists of a fresh issue worth Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore. The purpose behind the IPO is to utilise the money raised through it for financing the business working capital requirements and to meet general corporate purposes. According to the information available, in August 2020, the preliminary papers for IPO were filed and it received the nod of the Securities and Exchange Board of India (SEBI) in the month of October 2020.
Investors who are willing to subscribe or bid on the IPO need to know the below-mentioned details regarding price band, registrar, lot size, etc.
Price Band: Rs 86 – Rs 87 is the price band fixed for the IPO.
Public Issue: The IPO comprises a fresh issue worth Rs 800 crore and an offer for sale of Rs 375 crore by existing shareholders. Via offer for sale, promoter TS Kalyanaraman and investor Highdell Investmentwill sell shares worth Rs 125 crore and Rs 250 crore respectively.
Reserved Shares: 50 percent of the issue size has been reserved for qualified institutional buyers followed by 35 percent for retail investors and 15 percent for non-institutional investors. Kalyan Jewellers has also reserved Rs 2 crore worth of shares for its employees.
Lot Size: A minimum of 172 equity shares and in multiples of it thereafter can be subscribed by the investors.
Dates for Allotment and Refunds: The share allotment is likely to finalise around March 23, 2021,while the refund of money and unblocking of funds from ASBA account is expected to take place fromMarch 24. Investors also need to note that the allotted shares will be credited to the demat accounts of eligible investors by March 25, and the shares will get listed on BSE and NSE with effect from March 26.
Lead Managers: The lead managers of the public issue include Axis Capital, Citigroup Global Markets India, ICICI Securities, SBI Capital Markets and BOB Capital Markets,while the registrar of Kalyan Jewellers IPO is Link Intime India Private Ltd.
How to apply: One can apply for the Kalyan Jewellers IPO online using either UPI or ASBA as a payment method.
Company Profile: Being one of India's largest jewellery companies, Kalyan Jewellers started its business with a single showroom in Thrissur, Kerala and has expanded over the years to become a pan-India company comprising 107 showrooms across 21 states and union territories in the country. As of December 202, the company has an international presence with 30 showrooms in the Middle East.
Designing, manufacturing, and selling a variety of gold, studded and other jewellery products for various occasions — wedding, festivals and many more — is the main business activity of the company.