Kalyan Jewellers Shares Surge on Warburg Pincus' Potential Investment in Candere

Shares of

yan Jewellers India Ltd. climbed over 2% on Wednesday, September 3, following reports that global private equity giant Warburg Pincus is in advanced talks to acquire a 10% stake in Candere, the company’s lifestyle jewellery brand, for approximately ₹800-850 crore. According to sources cited by The Economic Times, Warburg Pincus, which previously held a stake in Kalyan Jewellers from 2014 until its complete exit in 2024, is looking to re-enter the jewellery maker’s ecosystem through this investment in Candere. The deal is expected to involve a mix of purchasing existing shares from Kalyan Jewellers and subscribing to newly issued shares in Candere. Candere, known for its contemporary and affordable jewellery offerings, plans to utilize the funds from the issuance of new shares to fuel its expansion strategy, including strengthening its market presence and scaling operations. The lifestyle brand has been carving a niche in the competitive Indian jewellery market, targeting younger consumers with its trendy designs and accessible pricing.