As per bankers, the ISO certified multinational jewelry group Joyalukkas is planning to file draft papers for an initial public offering with market regulator Securities and Exchange Board of India (SEBI) within this week.
Keep reading to know more about the fund planning and other Joyalukkas India IPO news insights!
Know About the Plan of Joyalukkas for Its IPO
There was a query regarding this IPO news, which the company’s chairman Joy Alukkas has cleared in a recent citing. He shared that the company will update all information to both public and media at the appropriate time if any development in capital raising occurs.
In the above citing, one of the members of this company also shared the names of merchant bankers related to this issue. It includes Haitong Securities, Edelweiss Financial Services, SBI Capital Markets, and Motilal Oswal Investment Advisors Limited.
This company had previously decided to go public back in 2018. However, Joyalukkas India had to shelve their IPO plans due to bad market conditions.
In 2021, the total fund raised by Kalyan Jewellers through initial public offering amounted to Rs. 1,174 crores, which now values at Rs. 6,301 crores.
The biggest in the jewelry sector of India, Titan Company Limited by Tata Group, holds a market value of Rs. 2.4 lakh crores.
Joyalukkas has shared their revenue from operations for FY 2021, which stood at Rs. 8,066 crores. This value is slightly greater than the previous fiscal year’s earning of Rs. 8,024 crores. At the same time, its net profit for FY 2021 stands at Rs. 472 crores against a net profit of Rs. 41 crores in the previous financial year.
More About the Company – Joyalukkas
Since the initiation of Joyalukkas Company in 1987, it has expanded dramatically. It has outlets in around 65 cities across India, and this company works with a vision to ‘ornament the world.’
It offers its customer a wide variety of collections containing beautifully crafted artistic pieces in gold, platinum, silver, diamond, pearl ruby, and others.
Apart from different jewelry ranges, the company also sells bars and coins of silver and gold across its stores in India.
As per sources, Joyalukkas India IPO, the company will likely file its draft papers with SEBI this week itself. So, those waiting to invest in their shares must keep an eye on it. However, individuals should always conduct thorough research on the company’s history, vision, and financials before investing.
Keep scrolling through our blogs section to get more such updates and news on IPO and the stock market.
Frequently Asked Questions
1. Where are the branches of Joyalukkas located?
Joyalukkas is present in many parts of this country like Karnataka, Kerala, Telangana, Gujarat, Delhi, Maharashtra, Andhra Pradesh, Tamil Nadu, Haryana, Punjab, etc.
2. Does Joyalukkas offer a gold scheme to its customers?
Yes, Joyalukkas even offers Easy Gold Purchase Scheme to benefit its customers. Under this scheme, the customers of this company can purchase jewelry in advance and pay later in installments for ten months.
3. Are there any Joyalukkas stores outside this country?
Joyalukkas also has stores outside India like Bahrain, Kuwait, Malaysia, Saudi Arabia, Singapore, United Arab Emirates, USA, UK, Oman, etc.
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