Monday, October 20, 2014

#PrivateEquity firm #WarburgPincus invests Rs.1200 cr in #KalyanJewellers

Kalyan Jewellers has raised Rs 1,200 crore from Private Equity firm Warburg Pincus. The investment is said to be the largest Private Equity investment in the Jewellery manufacturing and distribution industry in the Country so far.
The company is eyeing Rs. 25000 crores as revenue and plans to foray into new markets like Kuwait, Qatar, Singapore and Malaysia. Currently it has six exclusive outlets in United Arab Emirates. T S Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers  said, 'We look forward to working with Warburg Pincus as we continue to build on our foundation and move onto our next phase of growth.' Founded in 1993 and Headquartered in Thrissur, Kerala, Kalyan Jewellers is the flagship of 100-year old Kalyan Group which was started with textile manufacturing and retailing business. The company has set an ambitious target of 100 showrooms by 2016.