Joyalukkas India has submitted DRHP to the market regulator SEBI for the IPO. According to DRHP, the company plans to raise around Rs 2300 crore from IPO.
Joyalukkas India IPO to Launch: Kerala based jewelery retail chain company Joyalukkas India Ltd has plans to bring Initial Public Offering (IPO). Joyalukkas India has submitted documents (DRHP) with the market regulator SEBI (SEBI) for this. According to DRHP, Gold Retain Chain Company plans to raise around Rs 2300 crore through IPO. The company will use the proceeds from the IPO to reduce its debt. At the same time, some amount will be used to open new showrooms. The total outstanding debt on the company as on 28 February 2022 was Rs 1524.47 crore. Prior to this, Tata Group’s Titan Company and Kalyan Jewelers are also listed companies in the market from this sector.
85 showrooms across the country
Joyalukkas has a total of 85 showrooms under the brand name “Joyalukkas” across 68 cities in India. Out of these, the area of 6 showrooms is 8000 sq ft or more. The area of a showroom in Chennai is 13000 sq ft, which is the largest. According to a report, the name of gold retail chain Joyalukkas is included in the 5 Indian jewelery brands that have made it to the list of top 100 luxury companies worldwide.
company in profit
The company has an inventory of jewelery made of gold, diamonds and other precious stones such as platinum and silver. Its product profile includes traditional, contemporary and combination designs. Each showroom will get regional customer preferences and different designs in its gold, diamond and other jewelery inventory. The company’s focus is on innovation and design. Apart from this, the company’s focus is also on quality, market trends and customer preferences.
The company’s revenue in the first 6 months of the financial year till September 2021 was Rs 4,012.26 crore as against Rs 2,088.77 crore a year ago. Net profit for the period stood at Rs 268.95 crore, as against Rs 248.61 crore in the same period last year.
Book Running Lead Manager
Edelweiss Financial Services Limited, Haitong Securities India Private, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited will be the Book Running Lead Manager Managers of the issue. At the same time, the registrar for this is Link Intime India. The Kerala-based company has shortlisted Edelweiss Financial Services Ltd., Jefferies Group LLC, Credit Suisse Group AG and IIFL Securities Ltd. to arrange a potential share sale.
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