Private equity firm Warburg Pincus has sold a 6.45% stake in Kalyan Jewellers, raising ₹3,584 crore through open market transactions. The stake was sold via its affiliate, Highdell Investment Ltd, on August 22. The shares were sold at an average price of ₹539.10 each.
Following the transaction, prominent buyers such as the Singapore government, Fidelity, Nomura, HSBC Mutual Fund, and Citigroup Global Markets acquired stakes in the jewellery retailer. Prior to this sale, Highdell Investment held a 9.17% stake in Kalyan Jewellers, which it had owned since 2014.
In addition, Kalyan Jewellers disclosed that a share purchase agreement was signed between the company’s promoter, Trikkur Sitarama Iyer Kalyanaraman, and Highdell Investment on August 21. Under this agreement, Highdell Investment will sell an additional 2.36% stake, amounting to 2,42,99,066 shares, for a total of ₹1,300 crore at a price of ₹535 per share.
