Daily News
Joyalukkas India files Draft Red Herring Prospectus for Rs 2,300 crore IPO
New Delhi: Retail jewellery chain Joyalukkas India Ltd has filed preliminary papers with Sebi to raise Rs 2,300 crore through an initial public offering. The Initial Public Offering (IPO) will comprise fresh issue of equity shares and there will be no Offer for Sale (OFS), according to the Draft Red Herring Prospectus (DRHP).
The company will use the net proceeds worth Rs 1,400 crore for the repayment or prepayment of borrowings, in full or part of all or certain borrowings for the company and Rs 463.90 crore for financing the opening of eight new showrooms. The funds will also be utilised for general corporate purposes.
The Kerala-based firm is into sale of gold jewellery, studded jewellery, and other jewellery products, including diamonds, platinum and silver.
More than 90 per cent of its revenue comes from the Southern region followed by the Western region. The company plans to add 8 new showrooms over the next 2 years across Telangana, Maharashtra, Odisha and Karnataka.
Joyalukkas clocked a profit of Rs 471.75 crore in FY21 as against Rs 40.71 crore in the year-ago period.
Edelweiss Financial Services Ltd, Haitong Securities India Pvt Ltd, Motilal Oswal Investment Advisors Ltd and SBI Capital Markets Ltd are the book running lead managers for the IPO.
Courtesy: Economic Times
With ‘Uncut Conversations’, Zaveri Bros Diamonds & Gold seeks to build deep, meaningful customer relationships
Thangals Jewellery celebrates International Women’s Day by recognizing employees at its all-women showroom in Dubai
Kirthi Diamonds’ new capsule collection is influenced by iconic characters and elements from Harry Potter films
Abharan Jewellers’ contest asks brides-to-be to document their in-store wedding jewellery shopping journey
India has overtaken China to become second largest diamond market: De Beers CEO Al Cook
US-based private equity firm Advent International to acquire Orra Fine Jewellery, say media reports
The House of Rose debuts in Mumbai with a 21,000 sq. ft. experiential concept space showcasing fine jewellery and luxury watch brands
Eminent jeweller Viren Bhagat sets up first global boutique in London’s Mayfair
Wide Angle4 weeks agoIndia has overtaken China to become second largest diamond market: De Beers CEO Al Cook
- Daily News1 month ago
US-based private equity firm Advent International to acquire Orra Fine Jewellery, say media reports
- Exclusive2 months ago
The House of Rose debuts in Mumbai with a 21,000 sq. ft. experiential concept space showcasing fine jewellery and luxury watch brands
- Wide Angle1 month ago
Eminent jeweller Viren Bhagat sets up first global boutique in London’s Mayfair
