InvestorQ : What is the size of the Kalyan Jewellers IPO and when is the IPO expected?
diksha shah made post

What is the size of the Kalyan Jewellers IPO and when is the IPO expected?

Answer
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Rutuja Nigam answered.
1 month ago


It has been reported in the SEBI filings that Kalyan Jewellers filed for Rs.1750 crore IPO. This is the largest IPO by a jewellery company in India. Most of the jewellery companies have been under a cloud after the PC Jewellers fiasco but gold prices should act in favour.

The issue date and time are yet to be finalized but it is expected before the end of this year itself. Out of the total issue of Rs.1750 crore, a sum of Rs.1000 crore will be raised by way of a fresh issue while the balance Rs.750 crore will be by way of an offer for sale or OFS.

The company has PE participation from Warburg Pincus. The promoter Mr. Kalyanaraman and Warburg Pincus are expected to actively participate and tender part of their shares in the OFS so as to monetize part of their franchise in the company.

The Rs.1000 crore of fresh funds of the IPO will be used to fund working capital and general corporate use. Kalyan Jewellers currently has around 107 stores across 21 Indian states. In addition, it also has 30 showrooms located in the lucrative Middle East market.