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Warburg takes a shine to Kalyan Jewellers’ Candere
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Global private equity firm Warburg Pincus is in discussions with Kalyan Jewellers India to acquire about 10% stake in the Kerala-based company’s lifestyle brand Candere for Rs 800-850 crore, two people aware of the discussions told ET.
The New York-based growth investor will likely purchase part of this stake from Kalyan Jewellers, while the rest will be newly issued shares in Candere, one of the people said. Candere will use the proceeds from newly issued shares to expand its presence, he said.
“Kalyan Jewellers is in the process of rapidly…
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