The shares of Kalyan Jewellers gained more than 2 percent on September 3 after a report said that international private equity firm Warburg Pincus is in discussions with the jewellery-maker to buy some stake in its lifestyle brand Candere.
Warburg Pincus is eyeing 10 percent stake in Candere for Rs 800-850 crore, the Economic Times reported citing people familiar with the matter. The New York-based company will likely purchase part of this stake from Kalyan Jewellers, while the rest will be newly issued shares in Candere, the report added.
Candere will use the proceeds from the issue of new shares to expand its presence, it further said.
Moneycontrol couldn't independently verify the report.
Notably, Warburg Pincus had remained an investor in Kalyan Jewellers since 2014 before fully exiting the company last year. In August 2024, Warburg Pincus sold its last 9.17 percent stake to institutional investors and TS Kalyanaraman - the promoter of the jewellery chain.
For the April-June quarter of the financial year 2026, Kalyan Jewellers reported a revenue of Rs 66 crore and a net loss of Rs 10 crore for Candere, which was founded in 2013. The lifestyle brand's number of showrooms stood at 81 at the end of the quarter.
Kalyan Jewellers shares later pared some gains to trade 0.6 percent higher at Rs 511.75 apiece. The stock currently has a P/E ratio of around 66.
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