Kalyan Jewellers is a jewellery store chain that has had celebrities like Amitabh Bachchan for promoting its brand.
Now, the company is opening up to public investment with IPO.
March 16, 2021 is the date of opening up for IPO while March 18, 2021 is the date of closing of the IPO (both days inclusive).
The price band of Rs 86-87 has been set for the share.
Rs 1,175 crore is planned to be raised via the IPO. Of this amount, Rs 800 crore will be fresh issue while Rs 375 will be an offer for sale.
The offer of sale will be by promoter and investor for Rs 125 and 250 crore respectively. The promoter TS Kalyanaraman and investor Highdell Investment will be parting with their shares.
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The cash generated will be used for working capital requirements.
Investors like you and I can bid in lot size of 172 shares.
Regarding the company, it was launched in 1993 with a single jewellery showroom in Thrissur, Kerala. The company then grew throughout the country with 107 showrooms spread across 21 states and union territories.
The company has not only showrooms in India but also in the Middle East with 30 showrooms there.
The company claimed, "We intend to continue to open additional showrooms as we expect a significant opportunity for further penetration in our existing markets as well as in new markets, primarily in India."