Kalyan Jewellers IPO lists at Rs 73.95, retail investors feel disappointed

Kalyan Jewellers IPO listing: The issue got listed today on exchanges, The IPO was overpriced as indicated by many analysts and there was not much left to attract the investors with the valuations offered.

Kalyan Jewellers share price got listed at Rs 73.95 and made a low of Rs 72.9. Kalyan Jewellers share price opened at 15% discount to IPO price. The IPO got a lame response from the investors and was expected to disappoint on listing as markets have also fallen in past few sessions. Kalyan Jewellers share price today is Rs 77, down Rs 10 or 11.5%. The market cap of the company is over Rs 8000 cr.
 

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Kalyan Jewellers India was incorporated in 1993. The company is one of the largest jewellery companies in India based on revenue as of March 31, 2020. The company was established by their founder and one of their Promoters, T.S. Kalyanaraman.

Kalyan Jewellers India has expanded to become a pan-India jewellery company, with 107 showrooms located across 21 states and union territories in India, and also has an international presence with 30 showrooms located in the Middle East as of December 31, 2020. They also sell jewellery through their online platform at www.candere.com.

Kalyan Jewellers design, manufacture and sell a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is their highest-selling product category, to daily-wear jewellery q One of their key competitive strengths is their ability to operate as a hyperlocal jewellery company. They endeavour to cater to their customers’ unique preferences, which often vary significantly by geography and micro market, through their local market expertise and region-specific marketing strategy and advertising campaigns.

The grassroots “My Kalyan” customer outreach and service centre network is another key element of their hyperlocal strategy which enables them to be a neighbourhood jeweller and is focused on marketing and customer engagement across urban, semi-urban and rural areas in India.

Kalyan Jewellers India is supported by an experienced board of directors which consists of eminent personalities from varied fields and includes the former CEO of Shoppers Stop, former CEO of L&K Saatchi & Saatchi, the former Deputy Governor of the RBI, as well as former leaders of well-reputed banking institutions such as Catholic Syrian Bank, Indian Overseas Bank and State Bank of Travancore. Furthermore, their shareholders include Highdell, belonging to the Warburg Pincus group.