Kalyan Jewellers raises ₹352 crore from anchor investors
March 16, 2021
Kalyan Jewellers India Ltd has raised ₹351.89 crore from 15 anchor investors, ahead of its proposed initial public offering (IPO), including from marquee investors such as the Government of Singapore.
The firm allocated 4.04 crore shares at the upper price band of ₹87 a share.
Apart from The Government of Singapore, which subscribed to 29 per cent of the anchor portion, Sundaram Mutual Fund (18.18 per cent), Calypso Global Investment Fund (14.21 per cent), Monetary Authority Of Singapore (5.11 per cent), Segantii India Mauritius (3.98 per cent) and Kuber India Fund (3.98 per cent) were among the other anchor investors.
Earlier on March 11, Kalyan Jewellers fixed a price band of ₹86-87 per share for its ₹1,175-crore IPO, which will open for subscription on March 16.
Kalyan Jewellers India has raised Rs 351.89 crore from 15 anchor investors, including the government of Singapore, Calypso Global Investment Fund and others. The IPO committee of the company in their meeting held on Monday finalised the allocation of 40,448,275 equity shares to anchor investors for an anchor investor allocation price of Rs 87 per equity share. The government of Singapore took nearly 29 per cent of the anchor investor portion, while the Monetary Authority of Singapore took 5.11 per cent. Sundaram Mutual Fund took nearly 25 per cent through various funds. Other investors included HDFC Life Insurance (2.84 per cent), Calypso Global Investment (14.21 per cent), SegantiII India Mauritius (3.98 per cent), Kuber India Fund (3.98 per cent), Moon Capital Trading (3.98 per cent), Edelwiss Alternative (3.98 per cent), Baroda Large and Mid Cap Fund (2.84 per cent), BNP PAribas Arbitrage (2.84 per cent) and Cohesion K Best Ideas Sub Trust (1.68 per cent).
Updated Mar 16, 2021 | 10:03 IST
Kalyan Jewellers IPO: Although Kalyan Jeweller is the second-largest jeweller in India after Titan Company, its financial performance is nowhere close to Titan. Representational image
New Delhi: Kalyan Jewellers India, the country s second-largest jeweller after Titan, wants to raise Rs 1,175 crore through an initial public offer (IPO) of shares. The IPO opens today (March 16) and will close on March 18 (Thursday). The company has priced its shares in a band of Rs 86-87.
Out of the IPO proceeds of Rs 1,175 crore, Rs 250 crore would go to Highdell, Warburg Pincus company, which was an early investor in the company. Now it wants to partially exit its investment. promoters of the company will get Rs 125 crore by diluting their stake, and the remaining Rs 800 crore (fresh issue) will go to the company to meet working capital requirements and for other corporate purposes. Following the IPO, promoter holding in the company
Retail portion of Kalyan Jewellers IPO gets fully subscribed on Day 1 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.