Kalyan Jewellers is the market leader in jewellery segment and is all set bring an IPO on the market floor on 16th March 2021 for public subscription and this offer will close on 18th March 2021. It’s a Main Board IPO of Equity Shares of the Face Value of INR 10 per share accumulating up to INR 1,175,00 crores. This issue is priced between the range of INR 86 – 87 per Equity Share, with fixed minimum order quantity of 172 shares for INR 14,964, to a maximum of 13 such lots by an individual retail investor i.e. 2236 share aggregating to the value of INR 1,94,532. The issue is supposed to be listed both on NSE and BSE.
More about Kalyan Jewellers India Limited
Kerala based jeweller has its presence pan India with over 107 show rooms across 21 states and 30 in the middle-eastern countries. Established in 1993 with just one showroom this jeweller made massive earnings to second after Tanishq. Major sales contribution is 70% from the gold jewellery and the remaining is from the other jewellery products and studded intricate pieces.
Being a established brand with a presence across the country and beyond being a part of the company’s hyperlocal strategy to spread the business worldwide and the diversity in the product range to meet the individual requirements of the local customers along with strong leadership role are the key strength areas for the robust growth and massive increase in the revenue of the establishment year over year.
When is the IPO open and closing date?
The IPO is scheduled to open on 16th March 2021 for public subscription and will close on 18th March 2021.
What is the issue size?
Total accumulated value of IPO is INR 1,175 crores, out of which INR 375 is Offer For Sale (OFS) for the existing shareholders and INR 800 crores is the Fresh Issue.
How is the issue placed?
50% of the issue is reserved to be subscribed by the institutional buyers, 15% is for the non-institutional investors and the remaining 35% is for the retail investors.
Is there any market lot size to the issue?
Market lot size for an individual retail investor is minimum of 172 shares for INR 14,964, with maximum of 13 such lots to be subscribed i.e. 2236 shares for total value of INR 1,94,532.
Who are the promoters of the company and what is their holding share?
T.K.Seetharam, T.K.Ramesh and T.S. Kalyanraman are the company promoters, holding 67.99% shares Pre-issue which will decline to 60.53% Post-issue.
Investor to the company Highdell Investments will shed off INR 250 crore worth of shares under OFS (offer for sale) issue and promoter T.S. Kalyanaraman is likely to sell INR 125 crore of shares in this IPO.
What are the tentative dates of this IPO
| Opening Date IPO | Mar 16, 2021 |
| Closing Date IPO | Mar 18, 2021 |
| Basis of Allotment Date | Mar 23, 2021 |
| Initiation of Refunds | Mar 24, 2021 |
| Credit of Shares to DEMAT Account | Mar 25, 2021 |
| Listing Date IPO | Mar 26, 2021 |
What is the objective of this issue?
The proceeds from this IPO will be utilised towards financing business working capital requirements and to meet general corporate purposes.
Restated Consolidated Financial Summary of the company
| Particulars | For the year/period ended (INR in Millions) | |||
| 31 Dec 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 | |
| Total Assets | 81,229.88 | 82,186.80 | 80.599.14 | 85,512.31 |
| Total Revenue | 55,497.98 | 1.01.810.16 | 98,140.29 | 1,05.801.99 |
| Profit After Tax (PAT) | (799.48) | 1,422.75 | (48.64) | 1,409.97 |
How to apply for the IPO from Kalyan Jewellers?
One can apply to this IPO either by using ASBA or UPI payment method. Application for the ASBA method is available in the internet banking of your bank. Brokers who do not offer banking services offer UPI payment method for share application.
Who are the Book Running Lead Managers and Global Co-ordinators of the issue?
Citigroup Global Markets India, Axis Capital and SBI Capital Markets and ICICI Securities are the Book Running Lead Managers and Global Co-ordinators to the issue while BOB Capital Market is the BRLM to the issue.