Kalyan jewelers get SEBI nod to raise Rs 1750 Cr via IPO
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Kalyan jewelers get a nod from SEBI to raise Rs 1,750 crore from IPO. The initial share-sale comprises issuance of fresh equity aggregating up to Rs 1,000 crore and an offer for sale of Rs 750 crore. Kalyan Jewellers filed its DHRP in August this year and received SEBI’s observation on October 15.
Kalyan Jewellers’ promoter TS Kalyanaraman would offload #stake worth Rs 250 crore. The net proceeds from the fresh share sale will go towards funding working capital requirements and for general purposes, according to DHRP. Promoters hold 76% stake in the company currently while the remaining 24% is held by private equity firm Warburg Pincus LLC
Warburg invested Rs 1200 crore in 2014 and again topped it up with another Rs 500 crore in 2017.
As of year ended March 30, 2020:
- Revenues: 3.3% jump at Rs 10,101 crore
- Net profit: Rs 145 crore, 487% higher as compared to FY19!
Do you have “Vishwasam” (trust) in Kalyan Jewellers & do you think it will do your “Kalyan” if you subscribe for its IPO?
