Gold rally gives way to biggest sale of jeweler shares in India
By Swansy Afonso and Nupur Acharya
The record-breaking rally in gold is expected to fuel an Indian jeweler’s biggest initial stock sale, helping it weather plummeting demand in the second-largest consumer country.
Kalyan Jewelers India Ltd. on Monday announced plans to raise up to 17.5 billion rupees ($ 235 million) through a public listing, as it builds on the long-term appeal of gold, a staple…