Business Standard

Jewellery chain Joyalukkas India files DRHP for Rs 2,300-crore IPO

Joyalukkas clocked a profit of Rs 471.75 crore in FY21 as against Rs 40.71 crore in the year-ago period

Joyalukkas

The Kerala-based firm is into sale of gold jewellery, studded jewellery, and other jewellery products, including diamonds, platinum and silver

Press Trust of India New Delhi
Retail jewellery chain Joyalukkas India Ltd has filed preliminary papers with Sebi to raise Rs 2,300 crore through an initial public offering.
The Initial Public Offering (IPO) will comprise fresh issue of equity shares and

there will be no Offer for Sale (OFS), according to the Draft Red Herring Prospectus (DRHP).
The company will use the net proceeds worth Rs 1,400 crore for the repayment or prepayment of borrowings, in full or part of all or certain borrowings for the company and Rs 463.90 crore for financing the opening of eight new showrooms. The funds will also be utilised for general corporate purposes.
The Kerala-based firm is into sale of gold jewellery, studded jewellery, and other jewellery products, including diamonds, platinum and silver.
More than 90 per cent of its revenue comes from the Southern region followed by the Western region. The company plans to add 8 new showrooms over the next 2 years across Telangana, Maharashtra, Odisha and Karnataka.
Joyalukkas clocked a profit of Rs 471.75 crore in FY21 as against Rs 40.71 crore in the year-ago period.
Edelweiss Financial Services Ltd, Haitong Securities India Pvt Ltd, Motilal Oswal Investment Advisors Ltd and SBI Capital Markets Ltd are the book running lead managers for the IPO.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 28 2022 | 3:29 PM IST

Explore News