Kalyan Jewellers’ promoter T S Kalyanaraman could be offloading shares price as much as Rs 250 crore, whereas Highdell Funding Ltd would promote as much as Rs 500 crore price of shares by the OFS route.
Kalyan Jewellers, which filed draft papers for IPO in August, obtained Sebi’s observations on October 15, an replace with the regulator confirmed on Monday.
Sebi’s observations are mandatory for any firm to launch public points like preliminary public supply (IPO), follow-on public supply (FPO) and rights problem.
The proceeds from the contemporary problem of shares could be utilised for working capital necessities and basic company objective.
On the finish of June this yr, the corporate had 107 showrooms throughout 21 states and Union Territories in India, and 30 showrooms within the Center East.
Axis Capital, Citigroup World Markets India, ICICI Securities and SBI Capital Markets are the worldwide co-ordinators and ebook operating lead managers to the supply.
Final month, the capital markets watchdog had sought clarification from the service provider banker concerning the corporate’s public problem.