Kalyan Jewellers
Kalyan Jewellers India Ltd. has received capital markets regulator SEBI’s go ahead to raise an estimated ₹ 1,750 crore through an Initial Share-Sale.
The IPO comprises issuance of fresh equity aggregating up to ₹ 1,000 crore and an offer-for-sale(OFS)worth ₹750 crore, according to the DRHP.
Company promoter T S Kalyanaraman’ would be offloading shares worth up to ₹250 cr, while Highdell Investment Ltd. would sell up to ₹500 crore worth of shares through the offer for sale (OFS) route.
The Company which filed draft papers for Initial Public Offer(IPO) in August obtained Sebi’s observations on October 15, 2020.
SEBI observations are necessary for any company to launch it’s public issues like Initial Public offer(IPO), follow-on public offer(FPO)and rights issue.
The proceeds from the fresh issue of shares would be utilised for general corporate purpose & working capital requirements.
At the end of June 2020, the company had 107 showrooms across 21 states and Union Territories in India and 30 showrooms in the Middle East.
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