Largest jewellery company having 107 showrooms in India and 30 showrooms in Middle East to raise ₹ 1,175 crores from capital markets
Kalyan Jewellers is one of the largest jewellery companies in India based on revenue as of March 31, 2020, according to the Technopak Report. It is established by one of our Promoters, Mr. T.S. Kalyanaraman in 1993. As of December 31, 2020, company had 107 showrooms across 21 states and union territories in India and 30 showrooms in the Middle East. As of December 31, 2020, company had 766 “My Kalyan” locations and 2,699 dedicated “My Kalyan” employees. Company design, manufacture and sell a wide range of gold, studded and other jewellery products across various price points
| IPO Opens | IPO Closes | Price Band (₹/Sh) | Min Retail Application (₹) | Listing Date |
|---|---|---|---|---|
| 16-Mar-2021 | 18-Mar-2021 | 86 to 87 | 14,964 | 26-Mar-2021 |
Kalyan Jewellers 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 our highest-selling product category, to daily-wear jewellery.
Promoters of Kalyan Jewellers are Mr. T.S. Kalyanaraman, Mr. T.K. Seetharam and Mr. T.K. Ramesh
Segment revenues share during FY20 and in the 9MFY20, 74.77% and 75.88%, respectively, of revenue from operations was from the sale of gold jewellery, 23.36% and 21.72%, respectively, was from the sale of studded jewellery (which includes diamonds and precious stones), and 1.87% and 2.40%, respectively, was from the sale of other jewellery.
Kalyan Jewellers will be raising ₹ 1,175 crores through this issue. The objects of the Offer are to (i) Funding working capital requirements; and (ii) General corporate purpose
About Industry
According to Technopak, the Indian jewellery retail sector’s size in Fiscal 2020 was approximately US$64 billion. The sector’s organized retail share stood at approximately 32%, comprised of national and regional players, while the rest of sector continues to be dominated by the unorganised segment. Indians have a strong cultural affinity for gold jewellery and its purchase is deeply ingrained in the Indian psyche. It serves the dual purpose of consumption and investment
Key Pointers
- 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 us 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
- Leverage scalable business model to expand showroom network and diversify channels of distribution
- Widen product offerings to further increase consumer reach and Leverage “My Kalyan” network to deepen customer outreach and strengthen the distribution network in core markets
Kalyan Jewellers IPO Snapshot
| Issue Open | 16-Mar-2021 |
| Issue Close | 18-Mar-2021 |
| Face Value | ₹ 10/- |
| Price Band | ₹ 86 to ₹ 87 (Including premium of ₹ 76 to ₹ 77 per share) |
| Discount to emplyees | ₹ 8/share |
| Bid Lot | 172 shares and in mutiples |
| Listing on | BSE and NSE |
| Mode of Payment | UPI / ASBA (Mandatory); Applications using third party UPI/ASBA Bank accounts are liable to rejected |
Kalyan Jewellers Issue & Subscribed Details
| Particulars | Issued | Subscribed |
|---|---|---|
| Issue Size | ₹ 1,175 Crores (Upper Band) | ₹ - Crores |
| QIB Portion | ~50% | TBA times |
| NII Portion (Application for lot size of 15 & above) | ~15% | TBA times |
| Retail Portion (Applications for lot size between 1 & upto 15) | ~35% | TBA times |
| Employees Portion | Shares upto 2 crores | NA |
| Total | 100% | TBA times |
Kalyan Jewellers IPO Indicative Dates
| Issue Open | 16-Mar-2021 |
| Issue Close | 18-Mar-2021 |
| Anchor Investor Bidding | One working day prior to Issue opening date of 16-Mar-2021 (around 15-Mar-2021) |
| Announcement of Allotment | 23-Mar-2021 |
| Initiation of Refunds | 24-Mar-2021 |
| Credit of Shares | 25-Mar-2021 |
| Listing (Commencement of trading on Stock Exchanges) | 26-Mar-2021 |
Lead Managers of Kalyan Jewellers IPO
List of Book Running and Lead/Co-Lead Manager/s
| Axis Capital Limited |
| Citigroup Global Markets India Private Limited |
| ICICI Securities Limited |
| SBI Capital Markets Limited |
| BOB Capital Markets Limited |
Registrar of Kalyan Jewellers IPO
| Link Intime (India) Private Limited |
Valuation
Company is looking at the following valuation
| Issue Size | ₹ 1,175 Crores (Upper Band |
| Pre-Issue Promoter's Holding | 67.99% |
| Post Issue Promoter's Holding | TBA% |
| Pre-Issue Share Capital | ₹ 958.29 Crores |
| Post Issue Shares | TBA Crores |
| Post Issue Market Cap (based on Price band) | ₹ TBA to ₹ TBA Crores |
Check Allotment Status of Kalyan Jewellers IPO
| Please check below or visit here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
Frequently Asked Questions (FAQ)
| Q. How to Apply for IPO ? A. IPO can be applied Online and Offline mode. Online: a) Via Net banking of Bank website b) Via Stock brokers portal Offline: a) Collect application forms from Brokers > Fill demat details & UPI > Submit to any broker across India. b) Download forms from NSE/BSE website > Fill demat details & UPI > Submit to any broker across India. |
| Q. How to register for BHIM UPI? UPI is made mandatory by SEBI to apply for IPO's. To educate investors National Payment Corporation of India (NPCI) has come out with the useful video. This video educates on how to download BHIM UPI app and its process to register. Source: NPCI |
| What is UPI based ASBA Process ? To educate people to apply for IPO's National Payment Corporation of India (NPCI) has come out with the useful video. This video educates consumers on how the IPO process works and how subscribing for IPOs via BHIM UPI helps reduce the time and effort one needs to take for the same. Source: NPCI |
| Q3? Ans Source: NPCI |
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