Gold’s Rally to Give Way to Biggest Jeweler Share Sale in India
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Gold’s record-setting rally is set to give wings to the largest initial share sale by an Indian jeweler, helping it overcome tumbling demand in the second-biggest consuming nation.
Kalyan Jewellers India Ltd. said Monday it plans to raise as much as 17.5 billion rupees ($235 million) through a public listing as it banks on the long-term appeal of gold, a staple of Indian weddings and a popular investment option in the country.