Subscription for IPO of Kalyan Jewellers is now open from March 16, 2021. The price of the band set is Rs 86-87 per share.
The last day for the subscription is March 18. A fresh issue of Rs 800 Crore through IPO and sale by promoters and existing shareholders of Rs 375 crore is in motion.
On the very first day, Kalyan Jewellers IPO was subscribed 0.60 times, where the retail category was subscribed for 1.10 times and NII category subscribed for 0.20 times.
Some experts suggest buying the share acknowledging the future rewards investor may get. The deciding factors are its product diversification, strong networking, and better performance. However, some recommend, that it may be risky due to high competition pricing, and variations in the gold prices.
The higher price band of value Rs 87 may concern the investor for a while but in the long run, it will be profitable. Having a high reach in the market, brand value, diverse range of customers Marwadi Shares and Finance also recommend buying its share.
The company generated Rs 352 crore on Monday. The allotment to 15 anchor investors was about 4.01 crore. The lead managers in the issue are Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets, and BOB Capital Markets.
The incorporation of the company was in the year 1993. The founder of the company is T. S. Kalyanaraman. Along with the jewelry business, the company has a stronghold on the textile trading, distribution and wholesale business. In India, the company has 107 showrooms in operation and 30 are operating in the Middle East.
The company may generate high revenue and profits from the newly opened stores and overall contribution from various regions.
Check all the recent news updates and share market updates