Kalyan Group in talks with investors to sell $200-$250m stake

Tags: Companies
Indian silk and jewellery retailer Kalyan Group is holding separate talks with Blackstone, TPG Capital Management and Temasek Holdings to sell a minority stake for $200-$250 million, two sources with direct knowledge of the matter told Reuters.

The sources said the talks with the private equity firms were ongoing, and no decisions had been made as to the exact amount of the stake sale.

"At this point in time, we cannot give a time frame for the conclusion of the deal," said one of the sources.

When contacted, Ramesh Kalyanaraman, executive director of Kalyan Group, told Reuters the company is in talks with various investors, but declined to name them or provide details.

Temasek, TPG, and Blackstone Group LP each declined to comment.

Kalyan Group, based in southern India, runs silk and jewellery retail chains across the country.

The company has annual revenues of 94 billion Indian rupees and hopes to touch 150 billion rupees next year. It also plans to expand into Malaysia and Singapore next year in anticipation of a potential listing in 2-3 years, Kalyanaraman said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Exchange managements must distinguish between speculation and gambling

    Every bull run in the Indian equity market raises the spectre of excessive speculation.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Zehra Naqvi

The mere display of power is not success

The stars are not afraid to appear like fireflies —Rabindranath Tagore ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture