New Delhi, Mar 18 (PTI) Kalyan Jewellers initial public offer was subscribed 2.61 times on the last day of subscription on Thursday.

The initial public offer received bids for 24,95,68,044 shares against 9,57,09,301 shares on offer, as per the NSE data.

The portion for qualified institutional buyers (QIBs) was subscribed 2.76 times, non-institutional investors 1.91 times and retail individual investors (RIIs) 2.82 times.

The initial public offer aggregating up to Rs 1,175 crore comprises a fresh issue of up to Rs 800 crore and an offer for sale of up to Rs 375 crore.

The price range for the offer was Rs 86-87 per share.

Kalyan Jewellers India Ltd on Monday raised Rs 352 crore from anchor investors.

Proceeds from the fresh issue of shares would be utilised for working capital requirements and general corporate purpose.

At the end of June 2020, the company had 107 showrooms across 21 states and Union Territories in India, and 30 showrooms in the Middle East.

Kalyan Jewellers designs, manufactures, and sells a wide range of gold, studded and other jewellery products.

Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets were the global coordinators and book running lead managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)