Kalyan Jewellers India Ltd., one of India’s largest jewellery retailers, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO) to raise ₹1,750 crore.
The IPO comprises a fresh issue aggregating up to ₹1,000 crore and an offer for sale aggregating up to ₹750 crore, including up to ₹250 crore by promoter selling shareholder T.S. Kalyanaraman and up to ₹500 crore by investor selling shareholder Highdell Investment Ltd., a private equity fund managed by Warburg Pincus, which has 24% stake in Kalyan Jewellers and has so far invested ₹1,700 crore.
Proceeds from the fresh issue will be used to meet working capital needs and general corporate purposes.
