Kalyan Jewellers India IPO
Kalyan Jewellers India IPO — date, price band, lot size & details 2021
Kalyan Jewellers India listed on 26 Mar 2021 at ₹73.95, 15% below the ₹87 issue price.
Kalyan Jewellers is one of India's largest jewellery companies, with 107 showrooms in India and 30 in the Middle East on 31 December 2020. Its total income was Rs 10,181.02 crore in FY2020.
Stock price
Kalyan Jewellers India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 16 Mar 2021
- Close 18 Mar 2021
- Allotment 23 Mar 2021
- Refund/credit 24 Mar 2021
- Listing 26 Mar 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 18 Mar, 2021 |
|---|---|
| Price Band | ₹86 – ₹87 |
| Face Value | ₹10 |
| Lot Size | 172 Shares |
| Issue Size | ₹1174.82 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 8.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,964 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 172 shares at the ₹87 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 172 | ₹14,964 |
| Retail (max) | 13 | 2,236 | ₹1,94,532 |
| S-HNI (min) | 14 | 2,408 | ₹2,09,496 |
| S-HNI (max) | 66 | 11,352 | ₹9,87,624 |
| B-HNI (min) | 67 | 11,524 | ₹10,02,588 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 6
- 01Total income was Rs 10,181.02 crore in FY2020, which makes it one of the largest jewellers in India by revenue.
- 02The showroom count rose from 77 on 31 March 2015 to 137 on 31 December 2020.
- 03Rs 799.87 crore of the issue was fresh capital, with Rs 600.00 crore planned for working capital.
- 04Total borrowing fell from Rs 4,077.40 crore on 31 March 2018 to Rs 3,640.31 crore on 31 March 2020.
- 05Profit after tax recovered from a loss of Rs 4.86 crore in FY2019 to a profit of Rs 142.28 crore in FY2020.
- 06Net worth was Rs 2,057.89 crore on 31 December 2020.
Risks · 7
- 01The company made a loss of Rs 79.95 crore in the nine months to 31 December 2020.
- 02Profit has swung, from Rs 141.00 crore in FY2018 to a loss of Rs 4.86 crore in FY2019 and a profit of Rs 142.28 crore in FY2020.
- 03Total borrowing was high at Rs 3,667.17 crore on 31 December 2020, against net worth of Rs 2,057.89 crore.
- 04The source shows a negative P/E because of losses, with pre-issue EPS of minus Rs 0.85.
- 05Gold jewellery made up 74.77% of revenue in fiscal 2020, so results track gold prices and wedding demand.
- 06The Middle East gave 21.81% of revenue in Fiscal 2020, which adds currency and regional risk.
- 07Promoter holding fell from 64.18% before the issue to 57.05% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Kalyan Jewellers India offer document.
| Metric | 31 Dec 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 8,122.99 | 8,218.68 | 8,059.91 | 8,551.23 |
| Total Income | 5,549.80 | 10,181.02 | 9,814.03 | 10,580.20 |
| Profit After Tax | -79.95 | 142.28 | -4.86 | 141.00 |
| EBITDA | 366.62 | 760.27 | 580.34 | 732.75 |
| NET Worth | 2,057.89 | 2,158.08 | 2,000.64 | 1,968.06 |
| Reserves and Surplus | 1,099.15 | 1,202.82 | 1,045.93 | 1,012.09 |
| Total Borrowing | 3,667.17 | 3,640.31 | 3,788.00 | 4,077.40 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Kalyan Jewellers India RHP.
Where the money goes
₹739.09 Cr of the issue is earmarked to named objects.
About the company
It designs, makes and sells gold, studded and other jewellery for weddings, festivals and daily wear. Gold jewellery gave 74.77% of revenue in fiscal 2020. It also sells online through candere.com.
On 31 December 2020 it had 107 showrooms across 21 states and union territories in India and 30 showrooms in the Middle East. All showrooms are run by the company. India gave 78.19% of revenue from operations in Fiscal 2020 and the Middle East 21.81%.
The IPO was Rs 1,174.82 crore, with Rs 799.87 crore of fresh issue and Rs 374.94 crore of offer for sale. Rs 600.00 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Kalyan Jewellers India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
37 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Axis Capital
71 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
65 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Citigroup Global Markets India Pvt. Ltd
13 issues handledBOB Capital Markets Ltd
4 issues handledBest listing: Smartworks Coworking Spaces (+6.9%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Kalyan Jewellers India?
The current Grey Market Premium is ₹0.
What is the Kalyan Jewellers India IPO price band?
₹86 to ₹87, on a face value of ₹10.
When is the allotment?
The basis of allotment is 23 March 2021, with listing on 26 March 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
