Gold Jeweller Joyalukkas plans to raise $300 million IPO.
Gold Jeweller Joyalukkas Files DRHP for Rs 2,300 Crore IPO With Sebi

Kerala-based jewelry retail chain Joyalukkas India is one of the leading jewellery companies in the country in terms of revenues in fiscal 2021. It has filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (Sebi).

The company plans to raise Rs 2,300 crore through an initial public offering (IPO) with a fresh issue of shares, with no offer for sale component.

Joyalukkas signs up Kajol as brand ambassador | Arab News
Image: Arab News

The jeweller will use the proceeds from the issue to pay back debt and open new stores, according to the draft prospectus filed by the company with Sebi.

Last year, rival company Kalyan Jewellers raised Rs 1,175 crore through its maiden public offer, which included a fresh issue of Rs 800 crore. However, the share price opened on a tepid note on the NSE. It is falling 15 per cent to Rs 73.95 from the issue price of Rs 87 on March 26.

Tata Group-owned Titan, Kalyan Jewellers, Joyalukkas, PC Jewellers, and Tribhovandas Bhimji Zaveri Ltd were named in the Deloitte Global 2021 edition of Global Powers of Luxury Goods in December 2021.

Company Financials

For the half-year ended in September 2021, its revenue was at Rs 4,012.26 crore against Rs 2,088.77 crore a year ago. Net profit for the period stood at Rs 268.95 crore versus Rs 248.61 crore last year. The weighted average return on net worth stood at 16.43. The average industry peer group P/E ratio is 99.71, the company said in its DRHP.

The book running lead managers to the issue are Edelweiss Financial Services, Haitong Securities India Private, Motilal Oswal Investment Advisors, and SBI Capital Markets. The registrar to Joyalukkas India is Link Intime India.

Meanwhile, gold jeweller Joyalukkas India Ltd. was named among five Indian jewellery brands that made it to the list of top 100 luxury companies across the world, according to a new report. Tata Group’s Titan Company jumped three places on the top 100 ‘Global Powers of Luxury Goods’ list to rank 22 and was among the 20 fastest-growing luxury goods companies.

About the Company

The firm operates 85 showrooms under the “Joyalukkas” brand located across 68 cities in India with an aggregate area of approximately 344,458 square feet, as of January 31, 2022. Of these 85 showrooms, six are large-format showrooms (with an area of 8,000 square feet or more). It includes the largest showroom in Chennai, Tamil Nadu which has an area of over 13,000 square feet.

It maintains an inventory of jewellery made of gold, diamond, and other precious stones, platinum and silver, all with an extensive array of designs. Its gold, diamond, and other jewellery inventory in each showroom reflect regional customer preferences and designs.

Company product profile includes traditional, contemporary, and combination designs across jewellery lines, usages, and price points. Its gold, diamond, and other jewellery inventory in each showroom reflects regional customer preferences and designs.

Its focus is on design and innovation, the ability to recognize consumer preferences and market trends. The intricacy of our designs and the quality of the products are its key strengths.