Trikkur Sitarama Iyer Kalyanaraman, the promoter of Kalyan Jewellers India, is set to acquire a 2.36% stake in the company from Warburg Pincus, a global private equity firm. The transaction, valued at ₹1,300 crore, involves buying 2.43 crore equity shares at ₹535 per share.
Pursuant to Regulation 30 and other applicable provisions of the LODR Regulations, we wish to inform you that basis an intimation dated August 21, 2024 received from Mr. Trikkur Sitarama Iyer Kalyanaraman (“Promoter”), a share purchase agreement (“SPA”) has been executed on August 21, 2024 between Highdell Investment Ltd (“Highdell”), and the Promoter of Kalyan Jewellers India Limited (“Company”) – company said in exchange filing
Transaction Details:
- Acquisition Amount: ₹1,300 crore
- Price per Share: ₹535
- Stake Acquired: 2.36% of Kalyan Jewellers
- Total Shares Purchased: 2.43 crore
Impact on Shareholding:
- Current Promoter Shareholding: 60.59%
- Post-Transaction Promoter Shareholding: 62.95%
As of June 2024, Warburg Pincus held a 9.17% stake in Kalyan Jewellers. Originally, the firm held a 32% stake before the company went public, from which it reduced its holding during the initial public offering.
