Kalyan Jewellers Initial Public Offering (IPO) will be open for subscription on March 16.  A price band of ₹86-87 per share has been fixed for its ₹1,175-crore IPO. A fresh issue of up to ₹800 crores of shares and an offer for sale of up to ₹375 crores will be offered in this IPO.

According to the statement made by the company, the OFS includes shares of up to ₹125 crores by promoters such as T.S. Kalyanaraman and ₹250 crores by the investor Highdell Investment Ltd. This offer includes a reservation of up to ₹20 crores for the employees. About 50% of the net offer would be allocated to Qualified Institutional Buyers (QIBs), and about 60% of the QIB portion may be allocated to anchor investors. Further, not less than 15% of the net offer would be allocated to non-institutional investors and the remaining 35% for retail investors. The offer will close on March 18. The company intends to use the raised funds towards its working capital requirements and general corporate purposes.

Axis Capital Ltd, Citigroup Global Markets India Private Ltd, ICICI Securities Ltd, and SBI Capital Markets Ltd are the Global Co-ordinators and BOB Capital Markets Ltd is the book running lead manager to the offer.