NEW DELHI: Private equity major Warburg Pincus on Thursday sold a 6.45% stake in jewellery retailer Kalyan Jewellers for Rs 3,584 crore via open market transactions. Meanwhile, the Singapore govt, Fidelity, Nomura, HSBC Mutual Fund and Citigroup Global Markets acquired stakes in the company.
US-based Warburg Pincus, through its affiliate Highdell Investment, offloaded shares of Kalyan Jewellers through a block deal on the NSE. According to the data, Highdell Investment sold a 6.45% stake in Kalyan Jewellers. The shares were disposed at an average price of Rs 539 apiece, taking the combined transaction value to nearly Rs 3,584.5 crore.
At the end of the June quarter, Highdell Investment owned a 9.17% stake in Thrissur-based Kalyan Jewellers. It has held the stake since 2014.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/us-fund-warburg-pincus-sells-6-5-in-kalyan-jewellers-for-rs-3584-crore/articleshow/112720877.cms