Industry

Kalyan Jewellers ₹1,175-cr. IPO to open on March 16

Kalyan Jewellers India Ltd. fixed a price band of ₹86-87 a share for its ₹1,175-crore initial share sale, which will open for public subscription on March 16.

The three-day public issue would conclude on March 18 and the bidding for anchor investors would open on March 15, Kalyan Jewellers announced.

The initial public offer (IPO) comprises issuance of fresh equity aggregating up to ₹800 crore and an offer for sale (OFS) of ₹375 crore.

Kalyan Jewellers’ promoter T.S. Kalyanaraman would be offloading shares worth up to ₹125 crore, while Highdell Investment Ltd, an affiliate of Warburg Pincus, would sell up to ₹250 crore worth of shares through the OFS route.

Proceeds from the fresh issue would be utilised for working capital requirements and general corporate purpose.


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Printable version | Jun 16, 2021 10:59:44 PM | https://www.thehindu.com/business/Industry/kalyan-jewellers-1175-cr-ipo-to-open-on-march-16/article34048379.ece

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