Kalyan Jewellers India Limited has invested ₹350 crore in its wholly-owned subsidiary, Candere Lifestyle Jewellery Pvt Ltd. This capital infusion, made through the subscription of 17,50,000 equity shares at a premium, is intended for the repayment of loans extended by the holding company. The investment maintains Kalyan Jewellers’ 100% ownership in Candere, with no change in shareholding percentage.
Kalyan Jewellers Boosts Subsidiary with ₹350 Crore Investment
Kalyan Jewellers India Limited has announced a significant capital infusion into its wholly-owned subsidiary, Candere Lifestyle Jewellery Pvt Ltd. The investment totals ₹350,00,00,000 (Rupees Three Hundred and Fifty Crore only).
Investment Details
The investment was made via a rights issue, with the company subscribing to 17,50,000 equity shares of Candere Lifestyle Jewellery Pvt Ltd, each with a face value of Rs. 10. The shares were acquired at a premium of Rs. 2000/- per share, aggregating the total investment amount.
Objective of Capital Infusion
The primary objective behind this substantial capital infusion is to facilitate the repayment of loans that were previously extended by the holding company, Kalyan Jewellers India Ltd., to Candere Lifestyle Jewellery Pvt Ltd. This move is expected to strengthen Candere’s financial position and optimize its capital structure.
Ownership Structure Unchanged
Despite this significant investment, the shareholding percentage of Kalyan Jewellers India Limited in its wholly-owned subsidiary, Candere Lifestyle Jewellery Pvt Ltd, remains unchanged. Candere will continue to operate as a 100% owned entity.
About Candere Lifestyle Jewellery Pvt Ltd
Candere Lifestyle Jewellery Private Limited is an India-based E-commerce company engaged in the retail sale of jewellery. Established on December 31, 2010, it was formerly known as Enovate Information Technologies Private Limited. The company’s turnover for the financial year ending March 31, 2026, was reported at Rs. 4253.66 Million.
Source: BSE
