Home Fashion Kalyan Jewellers raises Rs 351.89 crore from anchor investors ahead of today’s...

Kalyan Jewellers raises Rs 351.89 crore from anchor investors ahead of today’s IPO

By  
SHARE

India, the country’s second-largest jeweller after Titan, wants to raise Rs 1,175 crore through an initial public offer (IPO) of shares. The IPO opens today (March 16) and will close on March 18 (Thursday). The company has priced its shares in a band of Rs 86-87.

Out of the IPO proceeds of Rs 1,175 crore, Rs 250 crore would go to Highdell, company, which was an early investor in the company. Now it wants to partially exit its investment.

Kalyan Jewellers raised Rs 351.89 crore from anchor investors aheadof its Rs 1,175-crore initial public offering which opens for subscription.

The company allocated 4.04 crore shares at Rs 87 per share to 15 anchor investors. The anchor allocation was done at the higher end of the IPO price band of Rs 86-Rs 87 per share.

The anchor investors include Government of Singapore, Monetary Authority of Singapore, BNP Paribas Arbitrage, Sundaram MF, Kuber India Fund, Edelweiss Alternative Investment Opportunities Trust and HDFC Life Insurance Company.