Kalyan Jewellers India Ltd has fixed a price band of ₹86-87 per share for its ₹1,175-crore Initial Public Offering (IPO), which will open for subscription on March 16.
The offer comprises a fresh issue of up to ₹800 crore of shares and an offer for sale of up to ₹375 crore. The OFS includes shares of up to ₹125 crore by promoters T.S. Kalyanaraman and ₹250 crore by investor Highdell Investment Ltd, the company said in a statement.
The offer, which will close on March 18, includes a reservation of up to ₹20 crore for employees.
About 50 per cent of the net offer would be allocated to Qualified Institutional Buyers (QIBs), and about 60 per cent of the QIB portion may be allocated to anchor investors. Further, not less than 15 per cent of the net offer would be allocated to non-institutional investors and the remaining 35 per cent for retail investors.
Axis Capital Ltd, Citigroup Global Markets India Private Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd are the Global Co-ordinators and Book Running Lead Managers to the offer. BOB Capital Markets Ltd is the book running lead manager to the offer.
The company proposes to use the funds raised through the fresh issue towards working capital requirements and general corporate purposes.