Kalyan Jewelers IPO: These Offers Can Subscribe From Tomorrow

Kalyan Jewelers IPO: these offers can subscribe from tomorrow, know what is the price of a share, the date of listing.

This week once again, the IPO market is getting a lot of buzzes. The Rs 1,175 crore Initial Public Offer (IPO) of leading jewelery brand Kalyan Jewelers India will open for subscription on Tuesday, 16 March.

The last date for subscribing to this IPO is March 18, 2021. The IPO of the company is worth Rs 1,175 crore. Anchor investors can subscribe to the IPO on March 15.

Under this public offer, the company will issue new shares worth Rs 800 crore. At the same time, shares worth Rs 375 crore will be allocated through Offer for Sale (OFS).

Know what is Price Band.

For this issue, the company has fixed the price of each share at Rs 86-87. In terms of lot size, the investor will have to bid for at least 172 shares.

If calculated from the upper price band, a minimum investment of Rs 14,964 will be required for this issue.

Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets and BOB Capital Markets are the lead managers for the issue.

The company says that the proceeds from this IPO will be used for capital requirements and general corporate needs.

Kalyan Jewelers started in the year 1993 in Kalyanraman, Kerala. After this listing, the company will compete with Tata Group’s Titan, Tribhovandas Bhimji Zaveri, and PC Jeweler.

Know when the allotment of shares will take place. According to various brokers, the allotment of shares can be completed on March 23, 2021. This IPO may be listed on March 26, 2021.

Stock Market Update: Sensex breaks over 900 points, Nifty falls below 14800 points, banking stocks fall the most.

Today, the first trading day of the week i.e. Monday, the stock market opened with a downward trend. Bombay Stock Exchange’s flagship index Sensex opened 143.14 points down at 50648.94.

At the same time, the National Stock Exchange’s Nifty lost 31.80 points to open at 14999.20 level. Sensex fell 754.96 points to 50,037.12 and the Nifty fell 219.25 points to trade at 14,811.70 levels at 11:07 am.

Around one o’clock in the day, the Sensex fell 904.48 points to trade at 49,887.60 and the Nifty fell 254.55 points to trade at 14,776.40.

State Bank was the biggest loser among the Sensex stocks. Its stock was down nearly two percent.

On the other hand, shares of Mahindra & Mahindra, Dr. Reddy’s Lab, Bajaj Auto, Axis Bank, Bajaj Finance, and Kotak Bank also declined. In contrast, gains were recorded in Tech Mahindra and Power Grid.