Kalyan Jewellers IPO
Kalyan Jewelers IPO: This week was very important for the initial public offer (IPO) market. More than one IPO of big companies was launched. The IPO of Kalyan Jewelers (Kalyan Jewelers India), the leading jewelery brand, opened for Rs 1,175 crore on Tuesday 16 March this week.
Bid for only 7 percent on the first day
So far, 3.95 crore bids have been made for 9.57 crore shares of the company. The share of non-institutional investors is 13 percent. While the reserve portion for employees has been bid for only 7 per cent on the first day. Qualified Institutional Buyers has bid for 1 lakh shares. While there are 2.72 crore equity share reserves for them.
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Kalyan Jewelers plans to raise Rs 1175 crore from the issue. Of this, the company has already raised Rs 352 crore from anchor investors. In the issue, the company will sell fresh shares worth Rs 800 crore and shares worth Rs 375 crore under the offer for sale.
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Know, what is the business of the company?
Talking about the company’s business, Kalyan Jewelers had 107 showrooms in 21 states of the country till 30 June 2020. Apart from this, the company also has 30 showrooms abroad. Avinash Gorakshakar, director research, Profitmart Securities, said that Kalyan Jewelers has expanded into an all-India jewelery company.