Kalyan Jewellers shot ₹350 crore into its subsidiary Candere on a rights‑issue basis, buying 17.5 lakh shares at a premium of ₹2,000 each. The move nudged the Kalyan stock down 0.34% to ₹584 on the BSE.
The rights issue priced shares at ₹2,010 above the ₹10 par value, totaling ₹350 crore of new capital. Kalyan’s cash outlay targets the loan it had extended to Candere, and the transaction was completed on 19 September 2026.
Candere, an e‑commerce jeweller, turned over ₹425.37 crore in FY 2025‑26, a jump from ₹163.82 crore the year before, yet posted a ₹12.78 crore loss after tax. The capital injection will help it refinance or retire its own borrowings, tightening its balance sheet.
Last quarter, Kalyan Jewellers posted a 64% revenue rise and 45% same‑store sales growth, buoying investor sentiment. Still, the modest share dip suggests traders are weighing the debt‑repayment focus against the company’s broader growth prospects.
The investment does not dilute Kalyan’s 100% ownership of Candere, and no regulatory approval was required under SEBI’s Regulation 23. Looking ahead, the company’s board remains aligned with a debt‑free target for the subsidiary by mid‑2027.