Kalyan Jewellers promoter Trikkur Sitarama to buy Highdell Investment's 2.36% stake at Rs 1,300 crore

Kalyan Jewellers India promoter Trikkur Sitarama Iyer Kalyanaraman will purchase a 2.36% equity stake, valued at Rs 1,300 crore, from Highdell Investment, the company informed today via a filing with the exchanges.

The company stated that it received notification today from Kalyanaraman regarding a share purchase agreement executed between Highdell Investment and the promoter.

The 2.36% stake consists of over 2.43 crore equity shares, with a purchase price of Rs 535 per share, according to the filing.


The announcement was made after market hours and share of Kalyan Jewellers ended at Rs 556 on the NSE, gaining by Rs 14.10 or 2.60% over the Tuesday closing price.

The transaction will be subject to promoter arranging requisite funds through financing to consummate the transaction, the release said, adding that the company is not a party to the SPA.

Post the transaction, the promoter and promoter group shareholding in the company will increase from 60.59% to 62.95%.

As on June 30, 2024, Highdell Investment held a 9.17% stake in the jewellery company.

The company has two other promoters in Seetharam T K and T K Ramesh. There are several others, who are classified as "promoter groups" of the company.

The multibagger stock has given returns of 153% over the last one year outperforming Nifty which has yielded 28% in the same period.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)