InvestorQ : Can you tell me about the proposed IPO of jeweller, Joyalukkas?
indhumathi Sayani made post

Can you tell me about the proposed IPO of jeweller, Joyalukkas?

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2 months ago
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There is an IPO from one of the most respected names in Indian jewellery, Joyalukkas India Ltd. This is the first major jewellery IPO after Kalyan Jewellers more than a year back. Joyalukkas India Ltd has already filed the preliminary papers with SEBI to raise Rs.2,300 crore via the IPO route. This will be the second attempt by Joyalukkas to hit the public issues market after it had to cancel its proposed IPO in 2018 due to adverse market conditions.

The entire issue of Rs.2,300 crore will be by way of fresh issue of shares. Out of the fresh issue component, Joyalukkas will use Rs.1,400 crore for the repayment of debt and another Rs.464 crore for funding the opening of 8 new showrooms. Currently, more than 90% of the revenues of Joyalukkas comes from the Southern region. For FY21, Joyalukkas had reported Rs.8,066 crore revenues with net profits of Rs.472 crore implying net margins of 5.85%

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