Warburg Pincus to invest $200 Million in Kalyan Jewellers

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Oct 21, 2014: An associate of the private equity firm, Warburg Pincus has made a huge investment of Rs 1,200 crore to acquire a small stake in the popular jewelry firm, Kalyan Jewellers. Regarding this, TS Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers claimed that the firm is delighted to welcome Warburg Pincus as their growth partner.

Kalyan Jewellers based in Kerala is one of the largest jewelry manufacturing and distribution firms in India. The firm’s presence is felt across all the major markets in South India and some Northern states such as Gujarat, Maharashtra,Punjaband NCR with its network of 55 stores. Furthermore, there are six outlets inUnited Arab Emiratesas well.

Also, commenting on this investment, Vishal Mahadevia, Managing Director and Co-Head India, Warburg Pincus stated that the investment of Warburg Pincus in Kalyan Jewellers is the largest ever equity fund investment made so far in the history of jewellery industry in India.

Kalyan Jewellers is pursuing into a two pronged approach for the distribution and product strategy departments. Also, the firm is planning to increase the number of exclusive outlets in the domestic market and foray into the newer regions with focus on the north and western regions of India. When it comes to the overseas markets, Kalyan Jewellers is planning to establish its footprints inKuwaitandQatarin the Middle East andMalaysiaandSingaporeinSoutheast Asiarespectively. It is announced that the firm will be adding over 28 new outlets in the next six months.

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