Master Chains N Jewels Limited has taken a significant step towards its initial public offering (IPO) by filing a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) and various stock exchanges. The IPO includes a fresh issue of equity shares amounting to up to ₹400 crore, along with an offer for sale totaling up to 5,906,250 equity shares by the promoter selling shareholder.
For this strategic financial move, Master Chains & Jewels has enlisted the expertise of Crawford Bayley & Co to advise on the IPO. Meanwhile, Luthra and Luthra Law Offices India is providing legal counsel to the Book Running Lead Manager, Systematix Corporate Services Limited.
The transaction team is spearheaded by Kshitij Asthana, a Managing Associate, with support from associates including Savar Arora, Ashutosh Anand, Ashwin Singh, Kumar Anant Ashish, and Manali Singh. Strategic insights are also being provided by Akshit Kapoor, a Partner at the firm.
Master Chains & Jewels is recognized as a leading manufacturer in the gold chain sector in India. The company specializes in the design, manufacturing, and sale of an extensive range of gold jewelry, focusing on lightweight pieces. Operating within India’s organized gold jewelry manufacturing and wholesale distribution market, Master Chains & Jewels supplies products directly to other wholesalers and both single-store and multi-store retailers.
The capital raised from the fresh issue will be directed towards meeting the company’s working capital needs and other general corporate expenses.
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