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Warburg Pincus-backed Kalyan Jewellers share sale via initial public offering (IPO) was subscribed 2.61 times on the final day of subscription, data from the National Stock Exchange showed. Kalyan Jewellers received 24.95 crore bids for 9.57 crore shares on the offer. A total of 10.41 crore bids were received at the cut-off price, NSE data showed.
Portion reserved for retail investors was subscribed 1.47 times, non-institutional investors portion was subscribed 97 per cent and portion for qualified institutional investors was subscribed 1.18 times.
Kalyan Jewllers sold shares in the price band of Rs 86-87 per share, which will fetch the company Rs 1,175 crore at the higher end of the price band.
The primary market offer consists of a fresh issue of Rs 800 crore and an offer for sale of Rs 375 crore.
Kalyan Jewellers will use the proceeds from the share sale for funding its working capital requirements and for general corporate purposes.
Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets and BOB Capital Markets were the book running lead managers to the issue.
Among other IPOs Nazara Technologies was witnessing huge demand as the issue was subscribed over 10.55 on the second day of the issue.
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