Kalyan Jewellers' IPO gets subscribed 1.22 times on Day 2

The retail portion has been subscribed 1.92 times

Kalyan Jewellers India, one of the largest jewellery chains, got an overall subscription of 1.22 times on the second day of its IPO.

The retail portion received a great response and has been subscribed 1.92 times on the second day.

The portion set aside for non-institutional investors was subscribed 90 percent, and qualified institutional buyers have put in 25 percent bids.

The company also raised Rs 352 crore from its anchor book subscription ahead of the IPO, allocating 40,448,275 equity shares to 15 anchor investors and at the upper price band of Rs 87 per equity share.

Some of the marquee anchor investors include Government Of Singapore Sundaram MF, HDFC Life Insurance Company Limited, Calypso Global Investment Fund, Segantii India Mauritius, Kuber India Fund, Moon Capital Trading PTE. Ltd, Edelweiss Crossover Opportunities Fund (Series-II), Baroda Large & Mid-Cap Fund, BNP Paribas Arbitrage – ODI, Cohesion Mk Best Ideas Sub-Trust were part of the anchor allotment.

The offer comprises initial public offering of Equity Shares of the Company aggregating up to Rs 1,175 crore comprising a fresh issue aggregating upto Rs 800 crore (Fresh Issue); and an offer for sale aggregating upto Rs 375 crore, comprising offer for sale of Equity Shares aggregating upto Rs 125 crore by T S Kalyanaraman (“Promoter Selling Shareholder”) and offer for sale of Equity Shares aggregating upto Rs 250 crore by Highdell Investment Ltd (Investor Selling Shareholder) and together with the Promoter Selling Shareholder, the “Selling Shareholders”).

Axis Capital Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Global Co-ordinators and Book Running Lead Managers to the Offer. BOB Capital Markets Limited is the Book Running Lead Manager to the Offer.