NEW DELHI: The initial public offer (IPO) of Kalyan Jewellers India opened for public bidding on Tuesday. Analysts say the issue is richly valued but there are reasons to subscribe for the long term.
The company and its shareholders plan to raise Rs 1,175 crore from the market. The issue, priced in the range of Rs 86-87, comprises a fresh issue aggregating up to Rs 800 crore, and an offer for sale worth up to Rs 375 crore.
At Rs 87 per share, the stock is available at 0.9 times FY20 market cap/sales, and 63 times FY20 EPS. In comparison, at the current price, Titan is valued at 186.74 times earnings. Despite being relatively cheaper, investors do not seem that enthused about the issue.
Kalyan Jewellers IPO opens today: Key points you should know before subscribing
Kalyan Jewellers IPO opens today: Key points you should know before subscribing
The Kalyan Jewellers IPO is now open for subscription and investors can place bids till March 18. The public offering has created quite a buzz, but experts have also highlighted some risks. Here is all you need to know before subscribing:
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UPDATED: March 16, 2021 11:48 IST
The Kalyan Jewellers IPO will be open for subscription for investors from March 16 and it will close on March 18. (Photo: Reuters/Representational image)
The much-awaited Kalyan Jewellers initial public offering (IPO) opened for subscription on Tuesday. The Kerala-based jewellery chain’s public offering has created a buzz among investors but several experts have asked them to approach cautiously.