Business Update21 Aug 2024, 09:01 pm
Kalyan Jewellers India Ltd Promoter to Acquire 2.36% Stake for INR 13 Billion
AI Summary
Kalyan Jewellers India Ltd has announced the execution of a share purchase agreement (SPA) with Highdell Investment Ltd. The Promoter of Kalyan Jewellers India Ltd will be purchasing 24,299,066 equity shares, representing 2.36% of the share capital of the Company, for a purchase price of INR 535 per share, amounting to INR 13,000,000,310. The Transaction is subject to certain conditions precedent, including availing of financing by the Promoter from financial institutions/ non-banking financial institutions and drawing down of requisite funds. Post the Transaction, the 'promoter' and 'promoter group' shareholding in the Company will increase from 60.59% to 62.95%.
Key Highlights
- Kalyan Jewellers India Ltd Promoter to acquire 2.36% stake in the Company
- Transaction amount is INR 13,000,000,310
- Share purchase agreement executed with Highdell Investment Ltd
- Transaction subject to Promoter arranging requisite funds through financing
- Post-Transaction, Promoter and Promoter Group shareholding to increase to 62.95%