Kalyan Jewellers raises ₹352 crore from anchor investors
₹1,175-crore IPO opens today
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.
The offer comprises a fresh issue of up to ₹800 crore of shares and an offer for sale (OFS) of up to ₹375 crore. The OFS includes shares of up to ₹125 crore by promoters T.S. Kalyanaraman and ₹250 crore by investor Highdell Investment Ltd. The offer, which will close on March 18, includes a reservation of up to ₹20 crore for employees.