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Warburg Pincus divests 8.4% stake in Kalyan Jewellers for Rs 2,937 crore
Private equity major Warburg Pincus on Thursday divested an 8.4 per cent stake in Kalyan Jewellers India for Rs 2,937 crore through open market transactions.
The US-based Warburg Pincus through its arm Highdell Investment Ltd sold shares of Kalyan Jewellers India on the National Stock Exchange (NSE) and the BSE.
Kalyan Jewellers India is into manufacture and sale of gems and jewellery.
As per bulk and block deal data available on the exchanges, Highdell Investment disposed of 1.80 crore shares on the BSE. Similarly, Highdell Investment also offloaded more than 6.87 crore shares in three tranches on the NSE.
Around 8.67 crore shares sold represent an 8.42 per cent stake in Kalyan Jewellers India.
The shares were sold at an average price of Rs 344.42 apiece on the BSE, while the shares were disposed of within the price range of Rs 334-339.59 apiece on the NSE, taking the combined deal size to Rs 2,936.96 crore.
After the latest transaction, Highdell Investment's shareholding in Ka