Kalyan Jewellers IPO gets subscribed 2.61 times on final day

Kalyan Jewellers' initial public offering (IPO) got subscribed 2.61 times on Thursday, which is the final day of subscription. The jewellery firm raised Rs 351 cr anchor bids from marquee investors like Singapore's GIC, Sundaram Mutual Funds and HDFC life amongst others.

The company said it saw good demand for its shares from the qualified institutional buyers (QIBs) as the portion reserved for them was subscribed 2.76 times. Market analysts said that HNIs invested in the Kalyan IPO keeping in mind long term gains, as opposed to listing gains.

Portion reserved for retail was a total of Rs 411 crore, and the