Kalyan Jewellers Gets SEBI Nod For IPO

Kalyan Jewellers India Ltd has received consent from the capital market regulator the Securities and Exchange Board of India for its proposed Rs 1,750 crore share-sale.

The Initial Public Offering would comprise issuance of fresh equity aggregating up to Rs 1,000 crore and an offer for sale (OFS) worth Rs 750 crore, according to the Draft Red Herring Prospectus (DRHP).

According to PTI a report Kalyan Jewellers' promoter T S Kalyanaraman would be offloading shares worth up to Rs 250 crore, while Highdell Investment Ltd would sell up to Rs 500 crore worth of shares through the OFS route.

Kalyan Jewellers has 137 retail stores spread across INDIA and MIDDLE EAST

Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products. Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products.

Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and book running lead managers to the offer.

Last month, the capital markets watchdog had sought clarification from the merchant banker regarding the company's public issue.

Several jewellers are already listed including PC Jewellers, Tara Jewels and Tribhovandas Bhimji Zaveri among others. Most of the jewellers have seen their shares already listed below the IPO price.