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Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process.   Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
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IPO News | Kalyan Jewelers filed a document with SEBI

 

IPO News | Kalyan Jewelers filed a document with SEBI



Kalyan Jewelers, a leading jewellery sector company, is planning an IPO. For this, the company has filed a draft Red Hearing Prospectus (DRHP) with capital market regulator SEBI. Through this, the company plans to raise Rs 1,750 crore. According to DRHP, the IPO will have a fresh issue of Rs 1,000 crore and Rs 750 crore will be under Offer for Sale. The offer will be from promoters TS Kalyanraman and Hydel Investment. Kalyanraman will sell shares worth Rs 250 crore while Hydel will sell shares worth Rs 500 crore. The funds raised through the fresh issue will be used by the company for the needs of working capital and for general corporate purposes.

 

The promoters currently hold 76 per cent stake in the company. While Warburg holds a 24 per cent stake. Warburg invested Rs 1,200 crore in Kalyan Jewelers in 2014. After this, in 2017 it had imposed another 500 crore rupees. The company's revenue in the quarter of March 2020 was Rs 10,101 crore, an increase of 3.3 per cent from a year earlier. While the company had a net profit of Rs 145 crore, a 4.87 times increase compared to a year ago. As of June 2020, the company had 107 showrooms in the country while the Middle East countries had 30 showrooms.

 

Kalyan Jewelers filed with SEBI comes at a time when the jewellery sector, already set up due to the outbreak of coronavirus, is betting for a complete revival for the wedding and festive season. Gold prices have also risen since reaching a record high of around Rs 56,200 on August 7, 2020. On the other hand, shares of listed companies in segments such as Titan, Vaibhav Global and Renaissance Global have gained momentum in the last three months. So far some companies like Titan, TBZ of the jewellery sector in the country are listed on the stock market. Among the branded companies, Kalyan Jewellers is a large company preparing for listing. However, its net profit has increased 4.87 times in a year, which could be a staggering figure. In recent times, dozens of companies have been approved by SEBI for IPOs, but all these IPOs have been halted due to lockdown and deteriorating market conditions.


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