The shares of Kalyan Jewellers started trading with a 15.06 percent discount at Rs 73.90 on the BSE.Shares of Kalyan Jewellers India made a weak debut on the stock exchanges on Friday. The stock got listed at Rs 73.95 apiece, a 15 percent discount to the issue price of Rs 87 per share on the National Stock Exchange.
The shares of Kalyan Jewellers started trading with a 15.06 percent discount at Rs 73.90 on the BSE.
The Rs 1,175-crore initial public offering (IPO) of studded jewellery maker Kalyan Jewellers was subscribed 2.61 times during March 16-18. The issue has received bids for 24.91 crore equity shares against the offered size of 9.57 crore shares.The IPO comprises of issuance of fresh equity up to Rs 800 crore and an offer for sale (OFS) worth Rs 375 crore.
Kalyan Jewellers is one of the largest jewellery companies in India based on revenue as of March 31, 2020.
News Source: CNBC TV 18