Kalyan Jewellers has successfully launched one of India’s biggest Initial Public Offerings (IPOs) in the retail space with its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 26th March. Despite the excitement generated in the market prior to its listing, the stock closed on the first day at Rs.75.3 per share, a 14% discount to the issue price.
The listing ceremony concluded at the NSE building in Mumbai where T.S. Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers rang the opening bell along with the company’s management.
Talking at the listing ceremony, Kalyanaraman extended his gratitude to the larger Kalyan Jewellers family, including the company’s employees, business partners and customers, for their support over the years. In his speech, he also shed light on some of the company’s accomplishments, key milestones and differentiated business strategy. The Executive Directors of Kalyan Jewellers, Rajesh Kalyanaraman and Ramesh Kalyanaraman, were also in attendance.
Kalyan Jewellers currently operates 107 showrooms in 21 states and union territories, complemented by a network of 766 My Kalyan outlets across India as well as 30 showrooms in the Middle East.