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India Jeweler Joyalukkas Said to Plan $400 Million IPO Next Year

  • Company has picked Edelweiss, Jefferies among others for sale
  • Listing to follow a spate of IPOs, including peer Kalyan
Photographer: Dhiraj Singh/Bloomberg

Gold jeweler Joyalukkas India Ltd. is considering an initial public offering in India that could raise about $400 million in the first quarter of next year, according to a person familiar with the matter.

The Kerala-based company has picked Edelweiss Financial Services Ltd., Jefferies Group LLC, Credit Suisse Group AG and IIFL Securities Ltd. to arrange the potential share sale, said the person, who asked not to be identified because the information is private. Joyalukkas is seeking a valuation of $4.8 billion in the IPO, the person said.