Kalyan Jewellers IPO: Another golden opportunity to earn from investing in an IPO is going to come in front of investors. Kalyan Jewelers’ IPO of Rs 1175 crore will open for subscription on 16 March 2021. Investors can bid for subscription in the price band of Rs 86-87 per share. The face value per share is 10 rupees. You can apply for subscription for three days, that is, on March 16, the IPO will open for subscription and by March 18, investors will be able to apply for it. A fresh issue of Rs 800 crore will be floated in the issue and shares worth Rs 375 crore are for offer (OFS) by the promoters and shareholders. Under OFS, the shares valued at Rs 125 crore are by promoter TS Kalyanraman and the shares worth Rs 250 crore belong to Hydel Investment Limited. Equity shares of Kalyan Jewelers will be listed on BSE and NSE. There is no gray market activity in the shares of Kalyan Jewelers India.
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Lot Size of 172 shares
Kalyan Jewelers has put a lot size of 172 shares for the IPO. Investors can bid for a minimum of 172 equity shares. On the basis of the upper band in the price band of 86-87 rupees per share, investors can place their bids for subscription of IPO with a minimum investment of Rs 14,964.
According to the information, less than 50 percent of the issue has been reserved for qualified institutional investors (QIBs), 35 percent for retail investors and 15 percent for non-institutional investors. Shares worth Rs 2 lakh will be reserved for eligible personnel. Eligible employees are being offered shares at a discount of 8 rupees in bidding under the Employment Reservation Portion. Axis, Capital, Citigroup Global Markets India Private Limited, ICICI Securities Limited and SBI
Capital Markets Global Co-ordinators and Book Running Lead Managers for the issue. Apart from these, BoB Capital Market will also be the book running lead manager and the registrar link for the offer will be Intime India Private Limited.
Kalyan Jewelers 1.8% share in jewellery market
The company will meet the working capital requirements from the funds raised from investors for which the company needs Rs 600 crore and the fund will also be used for general corporate purposes. As of FY 2019, Tanishq (Titan Company Limited) holds a 3.9 per cent stake as the leader in the Indian jewelery market and 12.5 per cent in the organized jewelery market. Kalyan Jewelers has a share of 1.8% of the overall jewelery market and 5.9 per cent in the organized jewelery market during the same period.