Private Equity

Liquidity Events

Warburg sells residual 6.81% in Kalyan Jewellers for Rs.3,583-Cr

Business Line  

Global Private Equity firm Warburg Pincus has sold its last tranche of 6.81 % in Thrissur-headquartered Kalyan Jewellers through a series of bulk and block deals estimated at INR 3,583 crore.The major buyers were Motilal Oswal MF, Invesco MF, Fidelity Investment Fund, Nomura India Investment Fund, Government of Singapore, Nomura Funds Ireland plc, Citi Group Global Markets Mauritius and Global New Generation Stock Fund.With the latest stake sale, Warburg has completely exited its investment in the company that was made in 2014. As part of the stake sale, Warburg has agreed to sell 2.36% stake to Kalyan Jewellers promoter TS Kalyanaraman for INR 1,300 crore. The transaction will increase the promoter and promoter group’s shareholding in Kalyan from 60.59 % to 62.95%.