Kalyan Jewellers IPO: Opens today; find the key details before subscribing

The initial public offering (IPO) of Kalyan Jewellers India (KJIL) opens today, i.e. on Tuesday, March 16, 2021, with a price band of Rs 86-87 per share. The Warburg Pincus-backed company plans to raise Rs 1,175 crore in a combination of fresh issue and an offer for sale.

The Bid Lot is of 172 Shares and in multiples thereof. The public offer closes on Thursday, March 18, 2021.

The IPO comprises of issuance of fresh equity up to Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore. Kalyan Jewellers' promoter T S Kalyanaraman will offload 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 has been reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional bidders. Proceeds from the fresh issue of shares would be utilised for working capital requirements and general corporate purpose.

The Book Running Lead managers are Axis Capital, Citigroup Global, ICICI Securities, SBI Capital Markets and BOB Capital Markets. The Registrar is Link Intime India.

Besides, the company on Monday informed exchanges that it has raised Rs 351.89 crore by allocating 4.04 crore shares at Rs 87 per share to 15 anchor investors. The anchor investors include the Government of Singapore, Monetary Authority of Singapore, Life Insurance Co Ltd, and BNP Paribas Arbitrage.

Kalyan Jewellers

Established in 1993, Kalyan Jewellers has expanded its presence across India and also in the Middle East. Today, Kalyan Jeweller is India's second-largest jewellery retailers after Titan (Tanishq). Its businesses include design, manufacture, and sale of a variety of gold, studded and other jewellery products for various occasions, such as weddings, which is its highest-selling product category, to daily-wear jewellery.

Its total showrooms have increased from 77 as of March 31, 2015, to 137 showrooms as of December 31, 2020. It has a pan-India presence with 107 showrooms located across 21 states and union territories in India and also has 30 showrooms located in the Middle East. It also sells jewellery through its online platform at www.candere.com. It prides itself on being a trusted jeweller and was awarded the Superbrands title of being 'India's most preferred jewellery brand in Fiscal 2020.

It sells its ornate wedding jewellery through its "Muhurat" brand whereas high-volume, mass-market jewellery is sold through its "Aishwaryam" brand and antique jewellery is sold through numerous brands such as "Mudhra, "Sankalp" etc.