Kalyan Jewellers opened its IPO amidst upbeat market sentiment
Amidst the upbeat market trend in the Indian stock market, the Kerala based jewellery brand, Kalyan Jewellers opened its IPO
The Kerala-based jewellery company-Kalyan Jewellers opened its IPO on Tuesday to apparently raise the whopping fund worth Rs.1,175 crores. It is said to have already managed to earn the investment worth Rs. 352 crore through the anchor investors on March 15, while leaving a great number for the small investors. The brand has opened its IPO on March 16 thereby allowing the retail investors to buy the stocks for three continuous days. The IPO will last till March 18.
Kalyan Jewellers will raise funds in its three-day IPO bidding and it is expected to reach its target funds worth Rs 1,175 crores. This jewellery brand’s IPO comprises issuance of fresh equity aggregating up to Rs 800 crore. The company has decided to allocate its 4,04,48,275 shares for the initial share-sale with the minimum per-share value of Rs. 86-87. While some investors believe it’s a great opportunity for small investors, many believe that it could turn out to be a risky investment.
Kalyan Jewellers has apparently opened around 137 showrooms across India and its stores are located in 21 states. In the last few years, the brand has aggressively expanded its stores and now it’s aiming at earning great investments through IPO.
For more such updates, stay hooked on to The Live Mirror.