Kalyan Jewellers raises Rs 351 cr from 15 anchor investors, including PEs

 The IPO comprises issuance of fresh equity up to Rs 800 crore and an offer for sale worth Rs 375 crore

Kalyan Jewellers India has raised Rs 351.89 crore from 15 anchor investors, including the government of Singapore, Calypso Global Investment Fund and others.

The IPO committee of the company in their meeting held on Monday finalised the allocation of 40,448,275 equity shares to anchor investors for an anchor investor allocation price of Rs 87 per equity share.

The government of Singapore took nearly 29 per cent of the anchor investor portion, while the Monetary Authority of Singapore took 5.11 per cent. Sundaram Mutual Fund took nearly 25 per cent through various funds. Other investors included HDFC Life Insurance (2.84 per cent), Calypso Global Investment (14.21 per cent), SegantiII India Mauritius (3.98 per cent), Kuber India Fund (3.98 per cent), Moon Capital Trading (3.98 per cent), Edelwiss Alternative (3.98 per cent), Baroda Large and Mid Cap Fund (2.84 per cent), BNP PAribas Arbitrage (2.84 per cent) and Cohesion K Best Ideas Sub Trust (1.68 per cent).

Out of the 40,448,275 equity shares, 10,344,768 equity shares (i.e. 25.6 per cent of the total allocation to anchor investors) were allocated to two domestic mutual funds through four schemes.

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 will open the initial public offer of equity shares of face value of Rs 10 each (Equity Shares” and such initial public offer, the “offer”) on March 16, 2021. The offer will close on March 18, 2021. The price band of the offer has been fixed at Rs 86 to Rs 87 per equity share.