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Published on 12/03/2021 11:09:47 AM | Source: Dion Global Solutions Ltd

Kalyan Jewellers Ind announces launch of initial public offering

Posted in IPO Analysis| #IPO

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Kalyan Jewellers India Ltd. has announced public offering of 135057471 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 77.00 per share. The gross proceeds of the issue are expected to be Rs 1,17,500.00 lakhs. The company's initial public offer (IPO) will open on 16 March 2021 and is expected to close on 18 March 2021, subject to customary closing conditions.

The price band of the issue has been fixed at Rs 86.00-87.00 per share. The IPO includes a fresh Issue of 135057471 Equity Shares of the Company at an price of Rs 87.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 172 shares with bids in multiples of 172.

Kalyan Jewellers India Ltd. anticipates using the proceeds of the issue for Funding working capital requirements of the Company General corporate purposes. Citigroup Global Markets India Pvt.Ltd.,Axis Capital Ltd.,SBI Capital Markets Limited,BOB Capital Markets Ltd.,ICICI Securities Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.