Kalyan Jewellers IPO to open on March 16, price band fixed at Rs 86-87

NEW DELHI: Kalyan Jewellers India on Thursday said it would hit the market with its proposed IPO on March 1 and has set the price band for the same at Rs 86-87 per share. The issue would close on March 18.

The offer size is pegged at Rs 1,175 crore, and it comprises fresh issue aggregating up to Rs 800 crore and an offer for the same of up to Rs 375 crore. Promoter TS Kalyanaraman would sell Rs 125 crore worth of shares. Besides, Highdell Investment would sell shares worth up to Rs 250 crore.

Prospective investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. The offer will include a reserved share quota worth up to Rs 2 crore for eligible employees. A 35 per cent of the issue will be reserved for retail investors.


The company has proposed to utilise the proceeds for funding working capital requirements and use one part for general corporate purposes.

Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global coordinators and book running lead managers to the offer and BOB Capital Markets book running lead manager.