Warburg-backed Kalyan Jewellers IPO loses shine, sees tepid demand

Warburg-backed Kalyan Jewellers IPO loses shine, sees tepid demand

Kalyan Jewellers India Ltd’s initial public offering was oversubscribed by just 1.28 times on Thursday, a sign of tepid interest among investors unimpressed by the jeweller’s recent financial results and spooked by a drop in gold demand.