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Singapore govt among 15 anchor investors for Kalyan IPO

Kalyan is backed by private equity major Warburg Pincus, which has a 24 % stake through its investment arm Mauritius-based Highdell Investment.

Kalyan Jewellers has said that the government of Singapore and Monetary Authority of Singapore are among the 15 anchor investors who invested Rs 351.89 crore on Monday ahead of the jewellery retailer’s initial public offering (IPO). The firm has allocated 4.04 crore shares at the upper price band of Rs 87 a share.

Government of Singapore has been allocated 29% in the anchor allocation of Kalyan Jewellers India, while Monetary Authority of Singapore has been allocated 5.11% .

Sundaram Mutual Fund has been allocated 18.18 % and Calypso Global Investment Fund 14.21 %, sources said.

Kalyan Jewellers Rs 1,175- crore IPO opens on March 16 and will close on March 18. The IPO comprises a fresh issue equity shares aggregating up to Rs 800 crore and an offer for sale of shares worth Rs 375 crore by promoters and shareholders.

Kalyan is backed by private equity major Warburg Pincus, which has a 24 % stake through its investment arm Mauritius-based Highdell Investment.Warburg Pincus invested in two tranches , with the first investment of Rs 1,200 crore in 2014 and the second tranche of Rs 500 crore in 2017.

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