Kalyan Jewellers India on Thursday said it will open its proposed IPO on March 1 and has set the price band for the same at Rs 86 to Rs 87 per share. The issue would close on March 18.

The offer size is Rs 1,175 crore, comprising a fresh issue aggregating up to Rs 800 crore and an offer for the same of up to Rs 375 crore. Promoter TS Kalyanaraman would sell Rs 125 crore worth of shares in the issue. Besides, Highdell Investment would sell shares worth up to Rs 250 crore.

Prospective investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. The offer will include a reservation of shares worth up to Rs 2 crore for eligible employees. A 35 per cent of the issue will be reserved for retail investors.

Axis Capital Limited, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the Global Co-ordinators and Book Running lead managers to the offer. BOB Capital Markets Limited is the Book Running lead manager to the offer.