Kalyan Jewellers makes weak market debut, lists at 15% discount on BSE

Kalyan Jewellers has made a weak debut on the stock markets. It is trading at a 15 per cent discount on issue price on both the Bombay Stock Exchange and the National Stock Exchange.

Kalyan Jewellers on Friday made a weak debut on the stock market and listed at Rs 73.90 — at a discount of 15.06 per cent on its issue price (Rs 87) — on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), too, the company’s shares got listed at a 15 per cent discount at Rs 73.95. Analysts were expecting a weak debut for Kalyan Jewellers after the company’s Rs 1,175 crore initial public offering (IPO). The company's public issue, which opened for investors on March 16 and closed two days later, was subscribed 2.61 times. As mentioned earlier, the jewellery company had fixed the price band at Rs 86-87 per share. The offer comprised a fresh issue of shares worth Rs 800 crore and an offer-for-sale (OFS) of Rs 375 crore.