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Kalyan Jewellers' IPO opens on March 16; price band fixed at Rs 86-87

Promoter TS Kalyanaraman is selling shares worth Rs 125 crore and Warburg Pincus is selling shares worth Rs 250 crore in the IPO

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The country’s leading jewellery company will use the IPO proceeds for its working capital requirements and general corporate purposes

Sundar Sethuraman Mumbai

2 min read Last Updated : Mar 12 2021 | 1:41 AM IST

Kerala-based jewellery chain Kalyan Jewellers has priced its initial public offer (IPO) at Rs 86-87 per share. The IPO will be open from March 16-18. The Rs 1,175-crore offer comprises of fresh fund raise worth Rs 800 crore and an offer for sale of Rs 375 crore.

Promoter TS Kalyanaraman is selling shares worth Rs 125 crore and Warburg Pincus is selling shares worth Rs 250 crore in the IPO. Kalyanaraman and Warburg hold 24.5 per cent and 32 per cent stake in the company, respectively. Kalyan Jewellers has reduced the IPO size. Earlier, it intended to do a Rs 1,750-crore

Topics : Kalyan Jewellers initial public offerings IPOs stock market