Shares of Kalyan Jewellers slip over 9% in trade today on the back of a large block deal in the counter of 2.8 crore shares. According to a report by CNBC-TV18 citing sources, Warbug Pincus is likely to have sold 2.8 crore shares or 2.7% of their entire stake of 26.6%.
Shares in the block deal exchanged hands at an average price of Rs 108 per share, and the entire deal was valued at Rs 312.17 crore, data available on the exchanges showed. Earlier, CNBC-TV18 had reported that the floor price of the deal was proposed at Rs 110 per share, more than 7% discount to previous close.
At 10:05 AM, shares of Kalyan Jewellers were down 7.4% at Rs 109.80. The stock hit a day’s low of Rs 105.60 in the morning trade. The stock on Monday ended at Rs 118.65 on the NSE.