Joyalukkas withdraws Rs2,300 crore IPO

Indian jeweller Joyalukkas has withdrawn its Rs 23 billion ($277.95 million) initial public offering (IPO), a document on the market regulator's website showed on Tuesday.

The reason for the withdrawal was not immediately known. The jeweller had earlier put a similar IPO plan on hold in 2018.

The jeweller, headquartered in the southern Indian state of Kerala, operates showrooms across roughly 68 cities and is one of the biggest jewellery retailers in the country.