IPO of Kalyan Jewellers subscribed 2.6x – Times of India
[ad_1]
Read More/Less
MUMBAI: The Rs 1,175-crore initial public offering (IPO) by Kalyan Jewellers, one of the largest companies in the organised jewellery segment in India, closed with a subscription of 2.6 times. The issue had a price band of Rs 86-87 a share.
According to data on the BSE, the institutional portion of the offer was subscribed 2.8 times while the non-institutional or high net worth investors’ part was subscribed 1.9 times, the retail part 2.8 times and the employee part by 3.7 times.
The IPO comprises issuance of fresh equity aggregating up to Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore. Kalyan Jewellers promoter T S Kalyanaraman is offloading shares worth up to Rs 125 crore, while Highdell Investment, an affiliate of Warburg Pincus, is selling up to Rs 250 crore worth of shares through the OFS route.
The proceeds from the fresh issue of shares would be utilised for working capital requirements and general corporate purpose.
Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the managers to the offer.
[ad_2]