IPO on the Cards for Kalyan Jewellers
Warburg Pincus-backed Kalyan Jewellers is planning to file for an IPO.
According to reports, the draft document will be filed some time next month. Through the offering, the company is looking to raise a capital of Rs 2,500 crore.
A part of the funds will be used for business expansion both domestic and overseas and a secondary share sale, primarily by private equity investor Warburg Pincus, which will be selling part of its stake in the company, says a report.
Warburg Pincus invested of a total of Rs 1,700 Cr in Kalyan Jewellers - last year, the second and final leg of Rs 500 Cr investment took place. The investment was made in lieu of a 10 per cent stake in the company, which remains to be the largest investment to be made in the jewellery sector.