The public issue of Kalyan Jewellers India has been subscribed 1.21 times on the second day of bidding, March 17 as it received bids for 11.56 crore equity shares against the offer size of 9.57 crore equity shares, the data available on the exchanges showed.
The company is planning to raise Rs 1,175 crore through initial public offering which consists of a fresh issue of Rs 800 crore and an offer for sale of Rs 375 crore by promoter and investors.
Retail investors' reserved portion has been booked 1.90 times and employees' portion at 1.91 times. The portion set aside for non-institutional investors was subscribed 89 percent, and qualified institutional buyers have put in 24 percent bids against the reserved portion of 2.72 crore equity shares.
Also read in-house research team's take on Kalyan Jewellers
Religare Broking feels Kalyan Jewellers is well placed to capitalise on opportunities driven by its strong brand, scalable business model, effective operational processes and proven track record of profitable expansion.
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