The issue with the 86–87 A share price band, will remain open to public membership during March 16–18.
Kalyan Jewelers India Ltd. raised Ltd 352 crore from anchor investors ahead of its initial share-sale on Monday, which opens for public membership on Tuesday.
The company’s IPO committee has decided to allocate 4,04,48,275 shares to IP anchor per piece at 15 anchor investors. At this price, the firm earned 9351.89 crore, Kalyan Jewelers informed BSE.
Anchor investors include Government of Singapore, Monetary Authority of Singapore, HDFC Life Insurance Company Limited and BNP Paribas Arbitrage.
The initial public offer (IPO) of ₹ 1,175 crore includes new equity aggregation up to ₹ 800 crore and offer of sale (OFS) of ₹ 375 crore.
Kalyan Jewelers promoter TS Kalyanraman will close up to ₹ 125 crore of shares, while Warburg Pincus’ affiliate, Highdale Investment Ltd., will sell up to ₹ 250 crore of shares through the OFS route.
The issue with the 86–87 A share price band, will remain open to public membership during March 16–18.
Half the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders.
The proceeds from the fresh issue of shares will be used for working capital requirements and general corporate purpose.
At the end of June 2020, the company had 107 showrooms in 21 states and union territories in India and 30 showrooms in the Middle East. Kalyan Jewelers designs, manufactures and sells a wide range of gold, studded and other jewelery products. Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets Global are co-ordinators and book running lead managers. Last month, Capital Markets sought a clarification from the merchant banker about the company’s public issue.
Kalyan Jewelers, which filed an initial letter for an IPO in August, moved Sebi forward in October.
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