Kalyan Jewellers IPO: Jewellery brand Kalyan Jewellers is bringing its Initial Public Offering (IPO) this month. This public issue opens on 16 March and will remain open till 18 March. The company is expected to raise Rs 1175 cr through this IPO.

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The price band at which the Kalyan Jewellers IPO is launched is Rs 86-87 per share.

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Kalyan Jewellers will issue shares worth Rs 800 cr through this IPO while share worth Rs 375 cr will be sold as OFS or Offer For Sale.  

TS Kalyanaraman has a 27.41 per cent stake in Kalyan Jewellers while Highdale Investments has 24 per cent stake.

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 Kalyan Jewellers will utilise the money raised from the IPO for its operations over the next two years.

Till last year, Kalyan Jewellers had 107 jewellery showroom in 21 states across the country. It also has 30 showrooms outside India.

The investors can invest on a lot of 172 shares which will require an investment of RS 14,965. Any retail investor can apply for a maximum of 2236 shares.  

Kalyan Jewellers Executive Director Ramesh Kalyanaraman said that the company started opening 2-3 showrooms every year. The company also expanded its business in the Middle East. The company is now spread across 21 states across the country.