Kalyan Jewellers IPO Subscription Status: FINAL
Kalyan Jewellers Limited, incorporated in 1993, with a single showroom in Thrissur, Kerala are one of the largest jewellery companies in India based on revenue as of March 31, 2020. They have since 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.
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 2.76x |
| Non-Insti. (HNI) | 15% | 1.91x |
| Retail (RII) | 35% | 2.82x |
| Employees | – | 3.74x |
| Total Subscription | 100% | 2.61x |
Kalyan Jewellers IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.24x | 2.76x |
| HNI | 0.20x | 0.89x | 1.91x |
| Retail | 1.10x | 1.90x | 2.82x |
| Employees | 1.15x | 1.91x | 3.74x |
| Total | 0.59x | 1.21x | 2.61x |
Kalyan Jewellers IPO Subscription: Analyst Recommendations
Angle Broking – Subscribe
“The pre-issue TTM EV/Sales works out to 1.4, which is low compared to Titan Company (7.7x). However, Titan company has a better financial track record compared to KJIL. Going forward, we believe that KJIL would perform better”
CHOICE BROKING – AVOID [ Report ]
“At higher price band of Rs. 87, the company is demanding a TTM P/S valuation of 1.2x, which is at a significant premium to the peer average of 0.4x (excluding Titan Company Ltd.)”
Geojit Capital – SUBSCRIBE
“At the upper price band of Rs 87, the pricing is on the higher side, but on a long-term basis, Kalyan jewellers is available at one-year forward estimated P/E of 25x (on FY23E basis).”
Kalyan Jewellers IPO Subscription: Key IPO Details
| 2018 | 2019 | 2020 Mar | 2020 Dec | |
|---|---|---|---|---|
| Revenue from Ops | ₹1,054.79 Cr | ₹9770.08 Cr | ₹1,010.09 Cr | ₹5516.70 Cr |
| Profit before Tax | ₹213.79 Cr | ₹20.93 Cr | ₹220.89 Cr | ₹(59.12) Cr |
| Profit after Tax | ₹31.53 Cr | ₹97.37 Cr | ₹41.07 Cr | ₹(79.95) Cr |
| EPS (Basic) | 1.70 | (0.04) | 1.70 | (0.96) |
| As of March 2020 | EPS | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | 1.70 | 50.59 | 51.18 |
Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| Kalyan Jewellers | 51.18 |
| Sector Highest | 84.23 |
| Sector Lowest | 84.23 |
| Sector Average | 84.23 |
Kalyan Jewellers IPO Subscription – FAQs
1. How to apply for Kalyan Jewellers IPO in Retail Category?
A: An investor in retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Kalyan Jewellers in HNI Category?
A: An investor can apply in HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospects (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP and DRHP
