Kalyan Jewellers Ltd

About the Company:

Kalyan Jewellers is one of the largest jewellery companies in India based on revenue as of March 31, 2020. Company was establishedfounder and one of the Promoters, Mr. T.S. Kalyanaraman, who has over 45 years of retail experience, of which over 25 years is in the jewellery industry.

Company started the jewellery business in 1993 with a single showroom in Thrissur, Kerala.

Company has expanded to become a pan-India jewellery company, with 107 showrooms located across 21 states and union territories in India, and also have an international presence with 30 showrooms located in the Middle East as of December 31, 2020.

In Fiscal 2020 and in the nine months ended December 31, 2020, company’s revenue from operations was Rs.101,00.9 crores and Rs.55,16.7 crores, of which 78.19% and 86.21% was from India and 21.81% and 13.79% was from the Middle East.

Company’s total showrooms have increased from 77 as of March 31, 2015 to 137 showrooms as of December 31, 2020.

As of December 31, 2020, Company had 766 “My Kalyan” locations and 2,699 dedicated “My Kalyan” employees.

Company also sells jewellery through our online platform at www.candere.com.



Company’s Employees:

As of December 31, 2020, company had 7,230 employees employed across all our subsidiaries and locations in India and the Middle East, of which 6,895 are employed in India and 335 are employed in the Middle East.



“My Kalyan” Neighbourhood Centres:

Company’s “My Kalyan” network consists of multiple service centres that are located in a wide radius around most of our showrooms.

Company employs dedicated “My Kalyan” personnel at these service centres who engage in door-to-door and other direct marketing efforts within their local communities to promote brand “Kalyan”.

“My Kalyan” network contributed 17.02% of our revenue from operations in India and 30.88% of the enrolment to our purchase advance schemes in India in Fiscal 2020.

As of December 31, 2020, we had 766 “My Kalyan” locations and 2,699 dedicated “My Kalyan” employees.On average, company has approximately seven “My Kalyan” locations per showroom.



Kalyan Matrimony Business:

Kalyan Jewellers has an online matchmaking site named Kalyan Matrimony at www.kalyanmatrimony.com, enabling users to explore potential marital partners.

Company is able to leverage customer data from our Kalyan Matrimony site to identify potential jewellery customers well before their wedding and to send targeted advertisements to promote brand awareness, particularly for wedding-related jewellery.


Revenue from India & Overseas: (Fiscal 2020)

  • Company’s revenue was Rs.10,100.9 crores, of which 78.19% was from India and 21.81% was from the Middle East.



Showroom Expansion (From 2015 to 2020):

Company’s total showrooms have increased from 77 as of March 31, 2015 to 137 as of December 31, 2020.

Between April 1, 2015 and December 31, 2020, Kalyan Jewellers opened 60 net new showrooms at an average rate of approximately 12 showroom openings per year across multiple regions,



Impact of COVID-19: (March 2020 to May 2020)

Due to a government mandated lockdown in India, company had to temporarily close all of our showrooms, “My Kalyan” centres, manufacturing facilities, procurement centres and offices from mid-March to May 2020.

Company’s operations in the Middle East were similarly impacted during this period, and given the slowdown in the general economy of the Middle East countries in which we have operations, we chose to permanently close seven of our showrooms.


Management Team:

  1. Mr. T.S. Kalyanaraman (Designation: Chairman and Managing Director)
  2. Mr. Mr. T.K. Seetharam (Designation: Designation: Whole-time Director)
  3. Mr. T.K. Ramesh (Designation: Whole-time Director)




Objectives of the Issue:

Offer for Sale: (Rs. 375 cr)

  • Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to receive their respective portion of the proceeds from the Offer for Sale.


Fresh Issue: (Rs. 800 cr)

  • Funding working capital requirements of our Company.
  • General corporate purposes.



Financials of the Company: (Consolidated)

(in Crores) FY 18 FY 19 FY 20 31st Dec 20
Revenue 10,580.2 9814.0 10,181.1 5549.8
Net Profit 140.9 (-4.8) 142.2 (-79.9)



IPO Details:

Details Info
Issue Opens on 16th March 2021
Issue Closes on:. 18th March 2021
Issue Price Rs. 86 – 87
Face Value Rs.10
Retail Category Allocation 35%
Minimum Lot 172 Shares
Minimum Investment Rs.14,964
Issue Constitutes 13.11%
Issue Size Rs.1175 cr ($ 158 million)
Market Cap Rs. 8962 cr ($1.21 billion)
Listing at NSE & BSE
Equity Shares Offered (Fresh) 9,19,54,022
Equity Shares Offered (OFS) 4,31,03,448
Total Equity Shares Offered (Fresh + OFS) 13,50,57,470
Equity Shares Prior to the Issue 93,80,99,035
Equity Shares after the Issue 103,00,53,057


Also Read : List of Upcoming IPO’s in India.

Subscription Details:

(Subscription-Category-Wise (no. of times) Till time : 05:00 PM) Shares Offered 16th March 17th March 18th March
QIB 2,72,79,068 0.00 0.25 2.79
NII 2,04,59,303 0.2 0.90 1.93
Retail 4,77,38,372 1.12 1.92 2.85
Employee    2,32,558 1.16 1.93 3.78
TOTAL 9,57,09,301 0.60 1.22 2.64



Important Dates:

Finalization of Basis of Allotment On or Before 23rd March 2021
Initiation of Refunds On or Before 24th March 2021
Credit of Equity Shares: On or Before 25th March 2021
Listing Date: On or Before 26th March 2021



IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
1.49 58.38 6.63% 25.71



Check IPO Allotment Status:

Link InTime: https://linkintime.co.in/PublicIssue/

BSE IPO Website: https://www.bseindia.com/IPO/Allotment



Company Contact Info:
Kalyan Jewellers Ltd
Sitaram Mill Road, Punkunnam
Thrissur, Kerala – 680 002
Tel: +91 487 24 37 333
E-mail: compliance@kalyanjewellers.net;
Website: www.kalyanjewellers.net



IPO Registrar Info:
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg
Vikhroli (West), Mumbai 400083
Telephone: +91 22 4918 6200
Email: kalyan.ipo@linkintime.co.in
Website: www.linkintime.co.in