Kalyan Jewellers India Limited IPO – Mar 16 to 18

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Kalyan Jewellers India Limited IPO – Mar 16 to 18

March 12, 2021
Kalyan Jewellers India Limited IPO – Mar 16 to 18

Kalyan Jewellers India Limited is coming out with a fresh public issue to raise Rs 1,175 crores from the market.

Key details of the issue:

  • Issue opens – Mar 16 (Tuesday)
  • Issue closes – Mar 18 (Thursday)
  • Issue size – Rs 1,175 crores
  • Price band – Rs 86 to 87 per equity share
  • Bid lot – 172 shares and in multiples thereof
  • Employee discount – Rs 8 per equity share
  • Employee reservation – Up to Rs 2 crores

And here are some details of the company and further details on the Kalyan Jewellers India Limited issue.

Company details:

Kalyan Jewellers India Limited is one of the largest jewellery companies in India based on revenue as of Mar 31, 2020 (Source: Technopak Report). The company was established by its Founder and one of the Promoters, Mr. T S Kalyanaraman, who has over 45 years of retail experience, of which over 25 years is in the Jewellery industry.

The company started the jewellery business in 1993 with a single showroom in Thrissur, Kerala. The company is supported by an experienced Board of Directors that consists of eminent personalities from varied fields such as Banking and Finance, Retail, Marketing and Regulatory bodies and includes the former CEO of Shopper's Stop, former CEO of L&K Saatchi & Saatchi, the former Deputy Governor of RBI, as well as former leaders of well-reputed banking institutions such as the Catholic Syrian Bank, Indian Overseas Bank and State Bank of Travancore. Furthermore, its shareholders include Highdell, belonging to the Warburg Pincus group.

The company has expanded to become a pan-India jewellery company, with 107 showrooms located across 21 states and union territories in India, and also have an international presence with 30 showrooms located in the Middle East as of Dec 31, 2020. It also sells jewellery through its online platform at www.candere.com.

The company designs, manufactures and sells a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings (which is its highest-selling product category) to daily-wear jewellery.

One of its key competitive strengths is its ability to operate as a hyperlocal jewellery company. The company endeavours to cater to its customers’ unique preferences, which often vary significantly by geography and micro-market, through its local market expertise and region-specific marketing strategy and advertising campaigns.

The grassroots My Kalyan customer outreach and service centre network is another key element of its hyperlocal strategy, which enables the company to be a neighbourhood jeweller and is focused on marketing and customer engagement across urban, semi-urban and rural areas in India.

Issue size: Rs 1,175 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 586.5 crores

  • NIB – 15% of the offer – Rs 175.95 crores

  • RET – 35% of the offer – Rs 410.55 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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