The shares were sold by Highdell Investments, an entity controlled by Warburg Pincus, through a block deal on the NSE at ₹110.04 apiece, data on the exchange showed, fetching the PE fund ₹256.67 crore. The names of the buyers were not disclosed.
On Tuesday, the shares closed at ₹107.90 on the NSE, down more than 9% from the previous close.
Since its listing in 2021, the company’s shares have gained about 42%. So far in 2023, though, its shares have fallen about 15%.
Warburg Pincus, through Highdell Investments, held 271.5 million shares or 26.36% stake in the company, as on December 31, 2022.
Kalyan Jewellers was listed in March 2021, when Warburg Pincus sold a stake worth ₹250 crore in the company. While the PE firm had initially planned to sell a stake worth ₹500 crore in the public offering, it later cut down the size of its share sale. Ahead of its initial public offering, Warburg held a 32% stake in the company.
The PE fund had invested ₹1,200 crore in the jeweller in two tranches – ₹700 crore in 2014, and a second tranche of ₹500 crore in 2017.
