Shares of Kalyan Jewellers India, India’s largest jewelry company, increased by 8.3% in early morning trading to ₹589.45 a share, following reports of five huge block deals totalling ₹3,585 crore on August 22.
Approximately 6.6 crore shares, or 6.4% interest in the jewellery firm, were exchanged today at a floor price of ₹539 per share. Highdell Investment is expected to have sold a portion of its investment to the company’s promoter, Trikkur Sitarama Iyer Kalyanaraman.
On Wednesday, Kalyan Jewellers told investors that Highdell Investment Ltd. and the promoter of Kalyan Jewellers India Limited signed a Share Purchase Agreement (SPA) on August 21, 2024. Highdell will sell 24,299,066 equity shares, or 2.36% of the company’s share capital, to the promoter for ₹535 per share, totalling ₹1,300 crores.
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