Kalyan Jewellers’ shares climbed 6.02% to ₹577.25 after a major block deal on August 22.
The transaction, valued at ₹3,585 crore, saw Highdell Investment potentially offloading its entire stake to the company’s promoter, Trikkur Sitarama Iyer Kalyanaraman.
Promoter TS Kalyanaraman plans to boost his stake in Kalyan Jewellers by 2.36%, acquiring shares from Highdell Investment at ₹535 each, which is below the current price of ₹548.15 per share. Following this purchase, Kalyanaraman’s stake will increase to 23.36% from the previous 21%. Consequently, the combined shareholding of the promoter and promoter group will rise from 60.59% to 62.95%.
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Kalyan Jewellers