InvestorQ : What are the important details of Kalyan Jeweller’s IPO?
nishi Shah made post

What are the important details of Kalyan Jeweller’s IPO?

Anushri Vasa answered.
5 months ago
Backed by Warburg Pincus, Kerala-based retail jeweller Kalyan Jewellers is scheduled to launch its Rs1,175 crore IPO on 16th March. The 3-day offer will conclude on 18th March. The price band of the issue has been fixed at Rs. 86-87 per share. The public issue, backed by Warburg Pincus, comprises a fresh issue of Rs800cr and an offer for sale (OFS) amounting to Rs375cr. Investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. A total of 35% of the issue will be reserved for retail investors. As much as 50% of the issue has been reserved for qualified institutional buyers. Retail investors have a quota of 35% while 15% of the issue is for non-institutional investors.

The company and the shareholders participating in the offer for sale, in consultation with merchant bankers, will finalize the share allotment around 23rd March. The refund of the money (to anchor investors, if any) and unblocking of funds from the ASBA account will take place around 24th March. The allotted shares will be credited to the Demat accounts of eligible investors around 25th March, and the shares will get listed on bourses with effect from March 26, as per the tentative schedule in the company's prospectus.

The company plans to utilize the proceeds from the fresh issue for its working capital requirements and general corporate purposes.

IPO Snapshot:
Issue open: March 16-18
Face value: Rs 10 per share
Fresh Issue: 9.19 crore shares valued at Rs 800 crore
Offer for sale: 4.31 crore shares valued at Rs 375 crore.
Issue size: Rs 1,175 crore
Price band: Rs 86-87 apiece
Minimum lot size: 172 shares
Listing On: National stock Exchange and BSE
Book running lead managers: Axis Capital, Citigroup Global, ICICI Securities, SBI Capital Markets, BOB Capital Markets