September 27, 2020

kalyan jewellers ipo: Kalyan Jewellers information DRHP for Rs 1,750 crore IPO

Non-public fairness main Warburg Pincus backed Kalyan Jewellers has filed its draft crimson herring prospectus (DRHP) with market regulator Sebi on Monday to boost about Rs 1,750-crore by preliminary public provide (IPO).

The IPO contains Rs 1,000 crore of contemporary challenge and Rs 750 crore provide on the market by promoter T S Kalyanaraman and Highdell Funding, a Warburg Pincus agency, based on DRHP. Whereas Kalyanaraman is planning to promote shares price Rs 250 crore, the Highdell Funding has proposed to divest shares price Rs 500 crore.

The online proceeds from the contemporary challenge are proposed to be utilized in direction of funding working capital necessities and for common company functions, stated the DRHP.

Promoters at the moment maintain 76% stake within the firm whereas remainder of the 24% held by Warburg Pincus. Warburg Pincus in 2014 invested Rs 1200 crore in Kalyan Jewellers and once more in 2017 put in one other 500 crore.

For the 12 months ended March 30, 2020 the corporate has reported 3.3% leap in revenues at Rs 10, 101 crore. The corporate has posted a internet revenue of Rs 145 crore in FY20, a leap of 487% over FY19.

As of June 30, 2020, 107 showrooms in India and 30 showrooms within the Center East.