Joyalukkas India IPO: Kerala’s retail gold jewelery company Joyalukkas India Limited (Joyalukkas India) is preparing to bring an Initial Public Offering (IPO). The company is looking to raise Rs 2,300 crore through IPO. For this Joyluckas India has submitted the documents with SEBI.
Face value Rs 10 per equity share
The face value of the issue for the proposed share sale is Rs 10 per equity share. The offer is being made through a book bidding process, wherein up to 50% allocation will be available to qualified institutional buyers (QIBs). At least 15 percent will be available for allocation to non-institutional investors. 35% and above will be available for allocation to retail investors.
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Know about the company
Joyalukkas’ jewelery business includes the sale of gold jewellery, studded jewelery and other jewelery products including diamonds, platinum, silver and other precious stones. As of September 30, 2021, the South Zone generated 93.33 percent revenue from its operations, followed by the West with 3.37 percent revenue. Also, the company aims to open 8 new showrooms in Telangana, Maharashtra, Odisha and Karnataka in the next 2 years.