Kalyan Jewellers India Ltd on Thursday mounted a price band of Rs 86-87 a share for its Rs 1,175 crore-initial share-sale, which is able to open for public subscription on March 16.
The three-day public situation would conclude on March 18 and the bidding for anchor buyers would open on March 15, Kalyan Jewellers introduced in a digital press meet.
The preliminary public provide (IPO) contains issuance of recent fairness aggregating as much as Rs 800 crore and a suggestion on the market (OFS) price Rs 375 crore.
Kalyan Jewellers’ promoter T S Kalyanaraman could be offloading shares price as much as Rs 125 crore, whereas Highdell Investment Ltd, an affiliate of Warburg Pincus, would promote as much as Rs 250 crore price of shares by way of the OFS route.
Half of the difficulty is reserved for certified institutional consumers, 35 per cent for retail buyers and 15 per cent for non-institutional bidders.
Proceeds from the recent situation of shares could be utilised for working capital necessities and normal company goal.
At the top of June 2020, the company had 107 showrooms throughout 21 states and union territories in India, and 30 showrooms within the Middle East. Kalyan Jewellers designs, manufactures and sells a variety of gold, studded and different jewelry merchandise.
Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the worldwide co-ordinators and ebook working lead managers to the provide. Last month, the capital markets watchdog had sought clarification from the service provider banker concerning the company’s public situation.
Kalyan Jewellers, which filed preliminary papers for IPO in August, obtained Sebi’s go forward in October.
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