Kalyan Jewellers IPO Fully Subscribed On Second Day Kalyan Jewellers will use the proceeds from the share sale for funding its working capital requirements and for general corporate purposes.
Updated: March 17, 2021 4:35 pm IST
Kalyan Jewellers share sale via initial public offering (IPO) was fully subscribed on second day of the issue. Kalyan Jewellers Rs 1,175 crore IPO was subscribed 1.07 times till 4:20 pm on the seond day, data from National Stock Exchange showed. Portion reserved for retail investors was subscribed 99 per cent, portion reserved for non-institutional bidders was subscribed 9 per cent and portion for qualified institutional buyers was subscribed 24 per cent.
Warburg Pincus backed Kalyan Jewellers is selling shares in the price band of Rs 86-87 per share, which will fetch the company Rs 1,175 crore at the higher end of the price band.
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The IPO of Craftsman Automation was subscribed 3.81 times on Wednesday, the last day of the bidding process. The issue received bids for 1.47 crore shares against the 38,69,714 shares on offer.
The initial public offer (IPO) of Laxmi Organics was subscribed 106.74 times on the third and last day of the bidding process on Wednesday. The issue received bids for 347.51 crore shares as of 5:00 pm, against a total offer of 3,25,58,138 shares.
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.
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Synopsis
Though Kalyan is among the largest jewellery retailers in India, its growth has remained flat of late. Worse, the pandemic dealt a heavy blow with revenues declining for the first nine months of FY21. At a P/E ratio of more than 50x, Kalyan’s stock may be cheaper than Titan’s, but is double as expensive as that of TBZ.
More than two quarters after Kalyan Jewellers filed its draft red-herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India, the company’s initial public offering (IPO) is scheduled to open for subscription today. Priced at INR86-INR87 per share, the IPO will close for subscription on March 18, 2021. In its DRHP filed in August 2020, the jewellery showroom chain had initially said it plans to raise INR1,750 crore