Jewellery retailer Joyalukkas plans IPO to raise Rs.2,500-Cr

Kerala-based jewellery retail chain Joyalukkas India is to file its draft documents for an initial public offering (IPO). The IPO size is likely to be in the range of INR 2,200-2,500 crore and will entirely be a fresh share issue. Edelweiss Financial Services, Haitong Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets are the merchant bankers to the issue Joyalukkas posted revenue from operations of INR 8,066 crore for FY21 against INR 8,024 crore a year earlier. Its net profit stood at INR 472 crore for FY21 compared to INR 41 crore a year ago. The Joyalukkas brand has outlets in over 65 cities across India.