Gold jewellery chain Joyalukkas India files IPO papers to raise Rs.2,300-Cr

Kerala-based jewellery retailer Joyalukkas India has filed a draft red herring prospectus (DRHP) with Sebi to raise INR 2,300 crore in fresh capital through an IPO. The company plans to use INR 1,400 crore of the IPO proceeds for cutting debt and about INR 464 crore for expanding operations, which includes opening eight new showrooms.