

India's jewellery makers are IPO-ing away to pay for gold
Eight jewellery companies have listed on India’s main board this year. Many of them are the behind-the-scenes makers who supply to big brands like Malabar, Kalyan, and Senco. Investors have lapped them up. One issue was oversubscribed a hundred times. On paper, it’s easy to see why, because their profits are soaring.…
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