The shares of Kalyan Jewellers India Ltd. surged more than 7 per cent on Thursday as a result of several block deals involving stakes worth Rs 3,585 crore.
Highdell Investment, an affiliate of US-based global private equity firm Warburg Pincus, most likely sold promoter Trikkur Sitarama Iyer Kalyanaraman a 2.36 per cent stake as part of the block deal.
The stock was up 7.6 per cent at Rs 586 per share in the early hours of today's trading day on the National Stock Exchange (NSE). The stock opened at Rs 572.00 per share on the NSE. The stock touched the day-high level Rs 590.00 per share, pushing the stock over 8 per cent into green territory.
Kalyan Jewellers has recorded a 52-week high price of Rs 633.60 per share. The stock has also recorded an all-time high price of Rs 633.60, per share the same as the 52-week high price.
Kalyan jewellers share price |
Highdell Investment and the promoter, TS Iyer Kalyanaraman, have executed a share purchase agreement, according to a filing made by Kalyan Jewellers on the exchange on Wednesday.
Promoter's share holding
Highdell will sell promoter Trikkur Sitarama Iyer 2.42 equity shares, or 2.36 per cent of the company's share capital, for Rs. 1,300 crore in accordance with the SPA.
The 'promoter' and 'promoter group's' shareholding in the jewellery manufacturer will rise from 60.59 per cent to 62.95 per cent following the transaction.
Kalyan Jewellers Q1 FY25
Exchange Filling announced a 24 per cent YoY increase in its net profit for the quarter that ended in June, coming in at Rs 177.77 crore.
During the quarter, operating earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 16 per cent to Rs 376 crore, while revenue from operations increased by 26.5 per cent YoY to Rs 5,535.48 crore.
The total revenue rose to Rs 5,557.64 crore, a 27 per cent increase. On the other hand, EBITDA margins decreased from 7.4 per cent to 6.8 per cent during the same time last year.
