IPO | Kalyan Jewelers: Valuation Too Premium Relative to Closest Listed Peer TBZ
Kalyan's IPO valuation came out higher than our expectation. At >50x PE, it is valued at more than double that of its closest listed peer TBZ which...
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ECM Weekly (14th March 2021) - Coupang, Baidu, Shanghai Heartcare, Chaoju Eye Care, Linklogis, Tuya
Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
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Kalyan Jewellers IPO - No Glitter
Kalyan Jewellers aims to raise around US$160m via a mix of selling new and existing shares in its Indian IPO. The company was established in 1993...
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Pre-IPO | Kalyan Jewelers: Nothing Differentiated and Nowhere Near to Market Leader Tanishq
The jewelry industry in India is highly fragmented. Kalyan has limited differentiation relative to its competitors. It also lags behind...
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Kalyan Jewellers IPO: In a Recovery Following a Strategy Mishap
Despite being unlikely to grow revenues beyond an average rate of 10% over the next couple of years, Kalyan Jewellers could improve its margins...
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