InvestorQ : When is Joyalukkas India planning its IPO?
sara Kunju made post

When is Joyalukkas India planning its IPO?

Mary Joseph answered.
1 year ago

One of India’s leading exquisite jewellery chains, Joyalukkas India Ltd, is planning to launch an IPO around the last quarter of the current fiscal ending Mar-22. The IPO size is expected to be around $400 million or Rs.3,000 crore and the IPO would be done at an indicative valuation of $4.8 billion. The company will file the draft red herring prospectus with SEBI around late November or in early December this year.

Joyalukkas currently has a network of over 130 jewellery showrooms spread across 11 countries and is present in most of the major cities of India with origins in the state of Kerala and the Middle East. Joyalukkas had planned an IPO in 2018 but that had to be postponed due to tight credit conditions in the aftermath of the PNB scam perpetrated by Nirav Modi. Recently, Kalyan Jewellers had come out with an IPO and had received a good response.