Kalyan Jewellers is a jewellery store chain that has hadcelebrities like Amitabh Bachchan for promoting its brand.
Now, the company is opening up to public investment withIPO.
March 16, 2021 is the date of opening up for IPO while March18, 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 plannedto be raised via the IPO. Of this amount, Rs 800 crore will be fresh issuewhile Rs 375 will be an offer for sale.
The offer of sale will be by promoter and investor for Rs125 and 250 crore respectively. The promoter TS Kalyanaraman and investor HighdellInvestment will be parting with their shares.
The cash generated will be used for working capitalrequirements.
Investors like you and I can bid in lot size of 172 shares.
Regarding the company, it was launched in 1993 with a singlejewellery showroom in Thrissur, Kerala. The company then grew throughout thecountry with 107 showrooms spread across 21 states and union territories.
The company has not only showrooms in India but also in the MiddleEast with 30 showrooms there.
The company claimed, "We intend to continue to openadditional showrooms as we expect a significant opportunity for furtherpenetration in our existing markets as well as in new markets, primarily inIndia."