Kalyan Jewellers IPO closes today; issue subscribed 2.21 times

Finance    18-Mar-2021
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Mumbai, March 18 : The Kalyan Jewellers IPO ends today. The initial public offering (IPO) has been subscribed 1.92 times so far on the last day of the bidding process. Kalyan Jewellers IPO subscribed 1.94 times. The public issue subscribed 2.44 times in the retail category, 1.47 times in QIB (Qualified Institutional Buyers), and 1.37 times in the NII (Non-Institutional Investors) category.

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The IPO comprises of issuance of fresh equity up to Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore. IPO market lot size is 172 shares amounting to INR 14,964. A retail-individual investor can apply for up to 13 lots totaling to INR 1,94,532. The Pre IPO promoter shareholding stood at 67.99% which would reduce to 60.53% post IPO.
The Thrissur headquartered Kalyan Jewellers is one of the largest jewellery companies in India based on revenue as of March 31, 2020. It is a well Trusted Jewellery brand with film superstars like Amitabh Bachchan. Nagarjuna, Katrina Kaif, Manju Warrior as its brand ambassadors. The brand has a strong network distribution with global outreach offering wide range of jewellery product.
On the financial performance front, for the last three fiscals, Kalyan Jewellers has posted total income/net profits (loss) of :
FY 18 - Rs. 10580.02 cr. / Rs. 141.00 cr.
FY 19 - Rs. 9814.03 cr. / Rs. - (4.86) cr.
FY 20 - Rs. 10181.02 cr. / Rs. 142.28 cr.
For FY 21 till December 31, 2020, it has incurred a loss of Rs. - (79.95) cr. on a turnover of Rs. 5549.80 cr.
The Allotment Date for the issue is set at 23rd March 2021. Initiation of Refunds will be done from 24th March 2021. Credit of Shares to Demat Account is scheduled on 25th March 2021 and the IPO listing date is fixed at 26th March, 2021.

Nse by Siddhi somani