Let’s have a detailed review of the company and analytics of the Kalyan Jewellers Limited IPO release date, IPO offer price, subscription, Kalyan Jewellers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs.86 to 87
Listing AtBSE , NSE
Min. Order Quantity172 Shares
Listing Date Mar 26, 2021
Offer for SaleRs 1,175 Cr
Fresh IssueRs 800 Cr
IPO SizeRs 375 Cr
Tick SizeRs.1

Kalyan Jewellers IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Kalyan Jewellers Share Price – Live Performance

Summary of Kalyan Jewellers IPO

Kalyan Jewellers IPO

They are one of the largest jewellery companies in India based on revenue as of March 31, 2020, according to the Technopak Report.

They were established by their founder and one of their Promoters, Mr. T.S. Kalyanaraman, who has over 45 years of retail experience, of which over 25 years is in the jewellery industry. They started their jewellery business in 1993 with a single showroom in Thrissur, Kerala.

They design, manufacture and sell 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 their highest-selling product category, to daily-wear jewellery.

The Promoters of this company are MR. T.S. KALYANARAMAN, MR. T.K. SEETHARAM AND MR. T.K. RAMESH. The lead managers to the issue are Axis Capital Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited, SBI Capital Markets Limited, BOB Capital Markets Limited. The Registrar to this issue is Link Intime India Private Limited.

Check similar articles for this IPO

Kalyan Jewellers IPO GMP
Allotment of Kalyan Jewellers IPO

 

Kalyan Jewellers IPO Dates / Launch Date

The opening and the closing date of Kalyan Jewellers IPO is Mar 16, 2021 and Mar 18, 2021.


Kalyan Jewellers IPO Subscription 

Day / DateQIBNIIRIIEmployeeTotal Subscription
1st Day – Mar 160.00x0.20x1.10x1.15x0.60x
2nd Day – Mar  170.24x0.89x1.90x1.91x1.21x
3rd Day – Mar 182.76x1.91x2.82x3.74x2.61x
Shares Offered or Net Issue27,279,06820,459,30347,738,372232,55895,709,301

The shares subscribed by the public will be updated here.

Check Kalyan Jewellers IPO LIVE Subscription

For the Latest Bid details click on the above links.


Kalyan Jewellers IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Kalyan Jewellers IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment FinalizationMar 23, 2021
Refunds InitiationMar 24, 2021
Credit of Shares to Demat AccountMar 25, 2021
Share Listing DateMar 26, 2021

Kalyan Jewellers IPO Price Band / Cash Price

The face value of each share is Rs.10, and the cash price of the IPO is Rs.86 to 87. 


Kalyan Jewellers IPO Size

This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs.86 to 87 per equity share aggregating to Rs.17,500 MILLION


Kalyan Jewellers IPO Share Offering

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.10 each at a price of Rs.86 to 87 per equity share aggregating to Rs.10,000 MILLION,

Offer for Sale: Offer for sale consists of Up to [●] Equity Shares of face value of Rs.10 each for cash at a price of Rs.[●] per Equity Share aggregating Rs.7,500 MILLION.


Kalyan Jewellers IPO – Live Performance

The listing date of this IPO is Mar 26, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Kalyan Jewellers Share Price

Kalyan Jewellers IPO Grey Market Premium

The Kalyan Jewellers Limited IPO Grey Market Premium price is Rs 9-10, the Kostak rate is Rs 250 and the Subject to Sauda is X. 


Kalyan Jewellers Limited – Company Overview

They started their jewellery business in 1993 with a single showroom in Thrissur, Kerala. They have since 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 June 30, 2020.

Their total showrooms have increased from 77 as of March 31, 2015 to 137 showrooms as of June 30, 2020, and they intend to continue to open additional showrooms as they expect significant opportunity for further penetration in their existing markets as well as in new markets, primarily in India. They also sell jewellery through their online platform at www.candere.com.

They design, manufacture and sell 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 their highest-selling product category, to daily-wear jewellery.

Kalyan Jewellers: Hyperlocal Jeweller

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

They engage local artisans to manufacture jewellery (based on their specifications) that is suited to local tastes in the markets in which they operate and hence endeavour to curate a localised product mix and store experience within each of their showrooms to suit their customers’ preferences in the immediate micro market.

Kalyan Jewellers – Trusted Jewellery Brand

They pride ourselves on being a trusted jeweller and have endeavoured to establish a strong brand that their customers associate with trust and transparency. According to the Technopak Report, they were one of the first jewellery companies in India to voluntarily have all of their jewellery BIS hallmarked as well as accompanied by a detailed pricing tag disaggregating the various components of price to aid transparency to consumers.

These initiatives, along with their carefully crafted customer education and awareness campaigns around the lack of transparency historically prevalent in the Indian jewellery industry, have helped build the strength of their brand and enabled them to a develop a loyal customer base. They were awarded the Superbrands title of being ‘India’s most preferred jewellery brand in Fiscal 2020’.

Kalyan Jewellers – Customer Reach

Their grassroots “My Kalyan” customer outreach and service centre network is another key element of their hyperlocal strategy which enables them to be a neighborhood jeweller and is focused on marketing and customer engagement across urban, semi-urban and rural areas in India.

Their “My Kalyan” network consists of multiple service centres that are located in a wide radius around most of their showrooms.

They employ dedicated “My Kalyan” personnel at these service centres who engage in door-to-door and other direct marketing efforts within their local communities to promote their brand, showcase their product catalogue, enroll customers in their purchase advance schemes, enrich their customer database and help drive traffic to their showrooms nearest to that area.

Kalyan Jewellers: Information Technology

They have built robust information technology and operational management systems for their operations. These systems are specific to their business needs to ensure best-in-class standards of controls and operational efficiency. They particularly regard the implementation of their policies concerning inventory management and the mitigation of gold price fluctuations as critical to the success of their business.

Additionally, they consider investments in technology to be a key enabler of their growth and have invested in building various technology platforms, particularly in their “My Kalyan” operations, to support their customer acquisition activities.

Kalyan Jewellers Limited: Business strategies

  • Leverage their scalable business model to expand their showroom network and diversify their channels of distribution
  • Widen their product offerings to further increase their consumer reach
  • Leverage their “My Kalyan” network to deepen customer outreach and strengthen the distribution network in their core markets
  • Invest in CRM, marketing and analytics to more effectively target consumers and drive sales

Kalyan Jewellers Ltd – Financial Statements

On the basis of Standalone statement:

Amount (in INR & million)
31-Dec-2031-Mar-20Mar-1931-Mar-18
Total Assets81,229.8882,186.8080,599.1485,512.31
Total Revenue55,497.98101,810.1698,140.29105,801.99
Total Expense99,601.2997,931.01103,664.08
Profit After Tax(799.48)1,422.75(48.64)1,409.97

Earnings per Equity Share (in million)

Amount (in INR & million)
Mar-2031-Mar-1931-Mar-18
Basic1.70(0.04)1.70
Diluted1.49(0.04)1.51

From FY 2017-18 to FY 2019-2020, as per the Restated Financial Statements

  • In Fiscal 2020, 74.77% of their revenue from operations was from the sale of gold jewellery, 23.36% was from the sale of studded jewellery (which includes diamonds and precious stones), and 1.87% was from the sale of other jewellery.
  • In Fiscal 2020, their revenue from operations was Rs.101,009.18 million, of which 78.19% was from India and 21.81% was from the Middle East.

Kalyan Jewellers IPO – Promoters

The Promoters of this company are:

  • MR. T.S. KALYANARAMAN,
  • MR. T.K. SEETHARAM AND
  • MR. T.K. RAMESH

List of Related Parties (Key Managerial Personnel)

  • T.S. Kalyanaraman, Managing Director
  • Sanjay Raghuraman, Chief Executive Officer
  • V. Swaminathan, Chief Financial Officer
  • Jishnu R.G, Company Secretary

Kalyan Jewellers IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares OfferedUp to [●] Equity Shares, aggregating up to Rs.17,500 million
 Of which:
Fresh IssueUp To [●] Equity Shares, aggregating up to Rs.10,000 million
Offer for SaleUp to [●] Equity Shares, aggregating up to Rs.7,500 million

Net Offer

a. QIB CategoryNot more than [●] Equity Shares
b. Non-Institutional PortionNot less than [●] Equity Shares
c. Retail PortionNot less than [●] Equity Shares
 Equity Shares outstanding prior to the Issue839,241,600 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Kalyan Jewellers IPO Issue Object

The Net Proceeds from the Fresh Issue are proposed to be utilized towards the following objects:

1. Funding working capital requirements of their Company; and
2. General corporate purposes.

Kalyan Jewellers Limited: Competitive Strength

  • Established brand built on the core values of trust and transparency
  • One of India’s largest jewellery companies with a pan-India presence
  • Hyperlocal strategy enabling them to cater to a wide range of geographies and customer segments
  • Extensive grassroots “My Kalyan” network with strong distribution capabilities enabling deep customer outreach
  • Visionary Promoters with strong leadership and a demonstrated track record supported by a highly experienced and accomplished senior management team and board of directors
  • Wide range of product offerings targeted at a diverse set of customers
  • Robust and effective internal control processes to support a growing organisation and showroom network with a pan-India presence

Kalyan Jewellers IPO – Basis of the Offer Price

The Offer Price has been determined by their Company and the Selling Shareholder in consultation with the Lead Managers on the basis of the key business strengths.

Qualitative factors are:

  • Established brand built on the core values of trust and transparency;
  • One of India’s largest jewellery companies with a pan India presence;
  • Hyperlocal strategy enabling them to cater to a wide range of geographies and customer segments;
  • Extensive grassroots “My Kalyan” network with strong distribution capabilities enabling deep customer outreach;
  • Visionary Promoters with strong leadership and a demonstrated track record supported by a highly experienced and accomplished senior management team and board of directors;
  • Wide range of product offerings targeted at a diverse set of customers; and
  • Robust and effective internal control processes to support a growing organisation and showroom network with a pan India presence.

Kalyan Jewellers IPO – Quantitative Factors

Basic EPSRONW in %NAV (Rs.)
31-Mar-181.707.23
31-Mar-19(0.04)(0.18)
*31-Mar-201.706.6325.71
  • Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each
ParticularsP/E ratio
Highest61.69
Average61.69
Lowest61.69

Kalyan Jewellers Limited: Competitive Peers

Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)NAV per share (Rs.)
Kalyan Jewellers Limited10[●]1.706.6325.71
Listed Peers
Titan Company Limited161.6916.9122.3875.12

Kalyan Jewellers IPO Lead Managers

Lead Managers
Axis Capital Limited,
Citigroup Global Markets India Private Limited,
ICICI Securities Limited,
SBI Capital Markets Limited,
BOB Capital Markets Limited

Kalyan Jewellers IPO Registrar to Offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg
Vikhroli (West), Mumbai 400083
Telephone: +91 22 4918 6200
Email: kalyan.ipo@linkintime.co.in
Investor Grievance e-mail: kalyan.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Kalyan Jewellers IPO – Other Details

  • Statutory Auditor – Deloitte Haskins & Sells LLP
  • Legal Counsel to the Company – AZB & Partners
  • Bankers to the Company – State Bank of India, Indian Overseas Bank, Bank of Baroda, Canara Bank.


Kalyan Jewellers IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

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    Kalyan Jewellers IPO News

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    Kalyan Jewellers IPO Review FAQs

    Ques – What is the Issue Size of Kalyan Jewellers IPO?

    Answer – The Company is making an initial public offer of NA equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on fresh issue, Offer for sale, and the net issue.

    Ques – What is the Price band?

    Answer – The price band for this particular IPO ranges between Rs.86 to 87. As far as the face value of the share is of concern, it is Rs.10 per share.

    Ques – What is the Kalyan Jewellers IPO Open Date?

    Answer – The opening and closing date for the IPO have been updated. The IPO is set to open on Mar 16, 2021, while the closing date is set at Mar 18, 2021.

    Ques – What is the IPO Allotment Date?

    Answer – We also have the news regarding the respective allotment dates. Basis of Allotment finalization is on Mar 23, 2021, refund initiation is on Mar 24, 2021, credit of shares is on Mar 25, 2021 and share listing date is on Mar 26, 2021.

    Ques – What is the IPO Listing Date?

    Answer – Shares of this company shall be listed in the exchanges BSE as well as NSE. Date when the listing would be done is stagnant on Mar 26, 2021.

    Ques – Who is the Registrar of this IPO?

    Answer – One of the reputed registrars are managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on a lookout for.

    Ques – Who is the Promoter of this Company?

    Answer – Here are the promoters of this company – MR. T.S. KALYANARAMAN, MR. T.K. SEETHARAM AND MR. T.K. RAMESH. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

    Ques – What is GMP of Kalyan Jewellers IPO?

    Answer – We have obtained the GMP of this IPO and it is NA. The further insights of Kostak rate and subject to sauda or SS are as well included in this report.

    Ques – Is Kalyan Jewellers IPO good for Investment?

    Answer – We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

    Ques – What is the PAT of this Company?

    Answer – We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in million is 1,422.75, 2019 is (48.64), 2018 is 1,409.97. PAT from Dec 2020 is (799.48).


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