Views On Kalyan Jewellers - IPO update By Amarjeet Maurya, Angel Broking Ltd
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Below are Views On Kalyan Jewellers - IPO update By Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
“Ahead of IPO opening Kalyan Jewellers (KJIL) got good response from anchor investors which were around ~Rs352cr (~30% of IPO issue size). The name investors are Government of Singapore, Sundaram Mutual Fund, BNP Paribas, HDFC Life Insurance Company etc. We have a subscriber rating on IPO. In terms of valuations, the pre-issue TTM EV/Sales works out to 1.4 (at the upper end of the issue price band), which is low compared to Titan Company (trading at 7.7x). However, Titan company has a better financial track record compared to KJIL. Going forward, we believe that KJIL would perform better on the back of a strong brand and number of stores in India & internationally.”
Above views are of the author and not of the website kindly read disclaimer
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