Highdell Investment, a part of Warburg Pincus, is set to sell a 2.36% stake in Kalyan Jewellers for ₹1,300 crore to the company’s promoter, TS Kalyanaraman. This sale, announced on Wednesday, August 21, involves 2.42 crore shares at ₹535 each. The deal price is 2.45% lower than Kalyan Jewellers’ closing stock price on Wednesday, which was ₹548.15, up 1.27% from the previous day.
After the transaction, which was agreed upon on August 21, Kalyanaraman’s stake in the company will rise from 60.59% to 62.95%. However, the deal depends on certain conditions being met, such as securing financing from financial institutions.
Earlier this year, Highdell had also sold a 2.54% stake in Kalyan Jewellers through a bulk deal in March. At that time, Highdell held over 103 crore shares in the company.
Kalyan Jewellers recently reported a 27% increase in net profits for the April to June quarter of the 2024-25 financial year, driven by strong growth in both the Indian and Middle Eastern markets. Revenue from India rose by 29%, while the Middle Eastern operations grew by 16% year-on-year.
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