Last Updated on February 12, 2024 by Admin
Fine jewellery brand Kalyan Jewellers’ stakeholder Warburg Pincus divested an 8.42% in the business represented by 8.67 crore shares. The stake sale had a value of Rs 2,936.96 crore and was carried out through open market transactions.
US-based private equity business Warburg Pincus’ company Highdell Investment Limited sold its shares in Kalyan Jewellers India on the National Stock Exchange and the Bombay Stock Exchange, the Press Trust of India reported. Highdell Investment Limited sold more than 6.87 crore shares on the National Stock Exchange in three tranches. The business also sold off 1.8 crore shares on the Bombay Stock Exchange.
On the Bombay Stock Exchange, Kalyan Jewellers’ shares sold at an average price of Rs 344.42 per share. The National Stock Exchange saw slightly lower prices of between Rs 334 to Rs 339.59 per share.
Following the share sale, Highdell Investment Limited now holds a 9.17% stake in Kalyan Jewellers down from its previous stake of 17.59%. Businesses and funds which bought shares from the business during the recent share sale included Motilal Oswal Mutual Fund, which bought approximately 1.1 crore shares on the Bombay Stock Exchange, India Retailing reported. The share sale caused Kalyan Jewellers’ share price to go up by over 5% on the Bombay Stock Exchange.
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