The issue price of Kalyan Jewelers’ IPO was Rs 87 per share.
Kalyan Jewelers’ stock was listed at a discount on the stock market on Friday. Its listing on NSE has been done at a discount of around 15 per cent.
The company’s stock is listed at Rs 73.95 on the NSE. However, on the BSE, these shares are listed at a price of 73.90 per share. Its issue price was Rs 87 per share. That is, the investors have incurred a loss of about 13 rupees.
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The company raised Rs 1175 crore through the issue.Kalyan Jewelers’ IPO was subscribed 2.61 times. The company’s issue opened on March 16 and closed on March 18. The company has raised Rs 1175 crore through its issue. Even before the issue opened, the company had raised Rs 351.89 crore from anchor investors on 15 March.
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Given the subscription, investors were confident of profits
The reserve share for qualified institutional buyers was subscribed 2.76 times. The same non-institutional investors’ portions were booked 1.91 times. The share of retail investors was 2.82 times. While the reserve share for employees was subscribed 3.74 times.
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Largest jewelery company in terms of income
Kalyan Jewelers is the largest jewelery company in the country in terms of income up to March 2020. The company will use the funds raised from the issue for the next two years. Kalyan Jewelers’ rival company was listed in December 2012. After that, for the first time a jewelery company is going to be listed in the market. If we look at the company’s network, 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.
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