Kalyan Jewellers witnessed a significant block deal on August 22, with shares worth ₹3585 crore changing hands. Highdell Investment is likely to have sold a portion of its stake to the company’s promoter, Trikkur Sitarama Iyer Kalyanaraman.
Key Details:
- Transaction Size: Approximately 5.90 crore shares, representing a 5.7% stake in Kalyan Jewellers, were traded at a floor price of ₹539 per share.
- Promoter Purchase: Highdell Investment agreed to sell 2.42 crore equity shares (2.36% stake) to the promoter at ₹535 per share, amounting to ₹1,300 crore.
- Impact on Shareholding:
- Promoter’s Stake: The promoter and promoter group’s shareholding in Kalyan Jewellers will increase from 60.59% to 62.95%.
- Highdell’s Stake: Highdell Investment’s stake will reduce from 9.17% as of the end of June 2024.
Also, Kalyan Jewellers informed exchanges that it acquired a 2.3% stake from Highdell Investment on August 21.
TOPICS:
Kalyan Jewellers