Liquidity Events
Warburg Pincus sells 8.4% in Kalyan Jewellers for Rs.2,937-Cr
US-headquartered private equity major Warburg Pincus, through its arm Highdell Investment Ltd, has divested an 8.4% stake in Thrissur, Kerala-headquartered Kalyan Jewellers India for INR 2,937 crore through open market transactions.Highdell Investment sold off 1.80 crore shares on the BSE. It also offloaded more than 6.87 crore shares in three tranches on the NSE. Around 8.67 crore shares sold represent an 8.42% stake in Kalyan Jewellers India.The shares were sold at an average price of INR 344.42 apiece on the BSE, while the shares were disposed of in the price range of INR 334-339.59 apiece on the NSE, taking the combined deal size to INR 2,936.96 crore.Post transaction, Highdell's shareholding in Kalyan Jewellers declined to 9.17% from 17.59% as of December quarter.Motilal Oswal Mutual Fund bought around 1.1 crore shares on the BSE. Invesco Mutual Fund (MF), Motilal Oswal MF, Sundaram MF, Franklin Templeton MF, Goldman Sachs, The Master Trust Bank of Japan Ltd AC Nomura India Investment Fund Mother Fund, and Nomura Funds Ireland were among the buyers on the NSE.Last year in June, Warburg Pincus, divested a 6.2% stake in Kalyan Jewellers for INR 725 crore.
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