Indian jeweller Joyalukkas withdraws $278 million IPO
1 year, 10 months ago

Indian jeweller Joyalukkas withdraws $278 million IPO

The Hindu  

Joyalukkas, one of India's biggest jewellery retailers, shelved plans for a public listing, a document on the market regulator's website showed on Tuesday, making it the first major company this year to pull its plans for an initial public offering. Joyalukkas did not give a reason for withdrawing its ₹23-billion IPO, but analysts said the most likely reason was macro-economic concerns such as market volatility and stubbornly high inflation. Indian e-commerce firm Snapdeal pulled its $152 million IPO in December, amid a meltdown in tech stocks, while wearable electronics company boAt, in October, decided to raise funds from existing investors rather than go ahead with a planned IPO. The IPO's book runners were Edelweiss Financial Services Ltd., Motilal Oswal Investment Advisors Ltd., Haitong Securities India, and SBI Capital Markets Ltd. None of them immediately respond to a request for comment.

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Mumbai-based Shanti Gold International Limited files DRHP for IPO
19 hours, 37 minutes ago

Mumbai-based Shanti Gold International Limited files DRHP for IPO

Live Mint  

Mumbai-based Shanti Gold International Limited has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering. The proceeds from the fresh issue will be utilized as follows: ₹45.83 crore will fund capital expenditure for the proposed Jaipur facility, ₹190 crore will be allocated towards the company's incremental working capital …

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