Kalyan Jewellers shares gain over 7% as promoter likely buys stake from Highdell Investment

The block deal also likely included US-based global private equity firm Warburg Pincus's affiliate Highdell Investment, selling a 2.36% stake to promoter Trikkur Sitarama Iyer Kalyanaraman.

In the early trade, the stock was trading at ₹586 apiece, up 7.6%, on the National Stock Exchange (NSE). Its market capitalisation stands at ₹60,569.15 crore.

On the BSE, the scrip gained 7% to ₹586.9.

On Wednesday, in an exchange filing, Kalyan Jewellers said that a share purchase agreement has been executed between Highdell Investment and the promotor TS Iyer Kalyanaraman.

Pursuant to the SPA, Highdell will sell 2.42 equity shares, representing 2.36% of the company's share capital, to promoter Trikkur Sitarama Iyer for ₹1,300 crore.

Post-transaction, the 'promoter' and 'promoter group' shareholding in the jewellery maker will increase from 60.59% to 62.95%.

Kalyan Jewellers had reported a 26.5% year-on-year (YoY) growth in its consolidated revenue from operations to ₹5,535.5 crore in the latest April-June quarter. The new profit increased 24% YoY to ₹177 crore in Q1 FY25.