Kalyan Jewellers will utilise the IPO proceeds to fund its working capital necessities
Kalyan Jewellers India’s Rs 1,175 crore preliminary public providing (IPO) will open for bidding tomorrow i.e. March 16. The Warburg Pincus’ backed firm’s IPO will stay open for 3 days, till March 18, and the shares shall be obtainable within the worth band of Rs 86-87 per share. The jeweller plans to boost Rs 1,175 crore on the greater finish of the worth band.
The IPO contains contemporary situation of Rs 800 crore and a suggestion on the market (OFS) of Rs 375 crore. Investors can bid for no less than 172 shares and in multiples of 172 shares, as much as 13 heaps. A complete of 35 per cent shall be reserved for retail buyers.
The firm will utilise the IPO proceeds to fund its working capital necessities and for normal company functions.
Kalyan Jewellers was began by Kalyanaraman in Kerala in 1993. It’s listed friends consists of Titan, Tribhovandas Bhimji Zaveri and PC Jeweller. Amitabh Bachchan and Katrina Kaif are the model ambassadors of Kalyan Jewellers.
Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets and BOB Capital Markets are the e book operating lead managers to the problem of Kalyan Jewellers.
