Joyalukkas India files darft paper to raise Rs 2,300 crore via IPO
Kerala based jewellery retail chain Joyalukkas India Ltd has draft papers with Securities Exchange Board of India to raise around Rs 2,300 crore via IPO.
The issue from the joyalukkas India of worth Rs 1,400 crore will be used to repay debt. As of 28 February 2022, the total outstanding debt of the firm was at Rs 1,524.47 crore.
The firm also plans to use Rs 463.90 crore for financing the opening of the new showrooms. The firm operates 85 showrooms under the Joyalukkas brand located across 68 cities in India with an aggregates area of almost 344,458 square feet, as of January 3, 2022. Of these 85 showrooms, six are large format showrooms, including the largest showroom at Tamil Nadu, Chennai that has an area of over 13,00 square feet.
Source: money control
for more details please read daily updates at www.unlistedstockstrades.com