Kalyan Jewellers Limited which had tapped the capital markets with its fresh issue of Rs 800 crs and an offer for sale of 375 crs in a price band of Rs 86-87 was subscribed. The issue received an average response and was subscribed 2.64 times.

Earlier the company had completed its allocation to anchor investors. The company allotted 4,04,48,275 equity shares at the top end of the band to 12 anchor investors comprising of 15 entities. The issue had opened on Tuesday the 16th of March and closed on Thursday the 18th of March.

The highest allocation was made to the Government of Singapore who was allotted 1,17,27,992 equity shares or 29% of the anchor allocation. Another entity, the Monetary Authority of Singapore was allotted 20,65,032 shares or 5.11% of the allocation making the total for the Singapore Government, 34.11% of the anchor book. The next highest allocation was Sundaram Mutual Fund who was allotted 91,95,292 equity shares or 22.76% of the shares in three schemes. The third highest allocation was to Calypso Global Investment Fund who was allotted 57,47,036 equity shares or 14.21% of the shares.

This meant that three anchor investors comprising of six entities were allotted 2,87,35,352 equity shares or 70.08% of the anchor book.

The issue was subscribed 2.79 times by QIB’s, 1.93 times by HNI’s, 2.85 times by Retail, and 3.78 times by Employees. There were 5.94 lac applications and on basis of lots, the retail portion was subscribed 2.17 times. Considering that this issue at Rs 1,175 crs was almost double in size compared with the other issues in the market currently, the number of applications received in this issue was substantially lower.

Full details of the subscription are given below: –