Kalyan Jewellers files DRHP for Rs 1,750 crore IPO

The IPO comprises Rs 1,000 crore of fresh issue and Rs 750 crore offer for sale by promoter T S Kalyanaraman and Highdell Investment, a Warburg Pincus firm, according to DRHP.

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The net proceeds from the fresh issue are proposed to be utilized towards funding working capital requirements and for general corporate purposes, said the DRHP.
Private equity major Warburg Pincus backed Kalyan Jewellers has filed its draft red herring prospectus (DRHP) with market regulator Sebi on Monday to raise about Rs 1,750-crore through initial public offer (IPO).

The IPO comprises Rs 1,000 crore of fresh issue and Rs 750 crore offer for sale by promoter T S Kalyanaraman and Highdell Investment, a Warburg Pincus firm, according to DRHP. While Kalyanaraman is planning to sell shares worth Rs 250 crore, the Highdell Investment has proposed to divest shares worth Rs 500 crore.

The net proceeds from the fresh issue are proposed to be utilized towards funding working capital requirements and for general corporate purposes, said the DRHP.


Promoters currently hold 76% stake in the company while rest of the 24% held by Warburg Pincus. Warburg Pincus in 2014 invested Rs 1200 crore in Kalyan Jewellers and again in 2017 put in another 500 crore.

For the year ended March 30, 2020 the company has reported 3.3% jump in revenues at Rs 10, 101 crore. The company has posted a net profit of Rs 145 crore in FY20, a jump of 487% over FY19.

As of June 30, 2020, 107 showrooms in India and 30 showrooms in the Middle East.
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