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Gold's record rally to boost Kalyan Jewellers' $235 mn IPO, say experts

Kalyan Jewellers India Ltd. said Monday it plans to raise as much as Rs 17.5 billion ($235 million) through a public listing as it banks on the long-term appeal of gold

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The market share of organized jewelers is less than third of the country’s retail sector, while standalone, smaller stores make for the rest, according to Kalyan Jewellers.

Swansy Afonso and Nupur Acharya | Bloomberg
Gold’s record-setting rally is set to give wings to the largest initial share sale by an Indian jeweler, helping it overcome tumbling demand in the second-biggest consuming nation.

Kalyan Jewellers India Ltd. said Monday it plans to raise as much as Rs 17.5 billion ($235 million) through a public listing as it banks on the long-term appeal of gold, a staple of Indian weddings and a popular investment option in the country.


The plan comes as gold purchases by

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First Published: Aug 25 2020 | 12:54 PM IST

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