Kalyan Jewellers' Rs1,175-cr IPO to open on Mar 16

New Delhi, March 11 Kalyan Jewellers India Ltd on Thursday fixed a price band of Rs 86-87 a share for its Rs 1,175-crore initial public offering, which will open for public subscription on March 16. The three-day public issue would...

Tribune News Service

Updated At : 12:33 PM Mar 12, 2021 IST

New Delhi, March 11

Kalyan Jewellers India Ltd on Thursday fixed a price band of Rs 86-87 a share for its Rs 1,175-crore initial public offering, which will open for public subscription on March 16.

The three-day public issue would conclude on March 18 and the bidding for anchor investors would open on March 15, Kalyan Jewellers announced in a virtual press meet.

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 TS Kalyanaraman would be offloading shares worth up to Rs 125 crore, while Highdell Investment Ltd, an affiliate of Warburg Pincus, would sell up to Rs 250 crore worth of shares through the OFS route.

Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders. PTI

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