Kalyan Jewellers Invests Rs 350 Crore in Candere Expansion
By Business Desk
Kalyan Jewellers infuses Rs 350 crore into online jewelry brand Candere via a rights issue to scale its physical retail and digital presence.
Kalyan Jewellers has deployed a strategic capital infusion of ₹350 crore into its subsidiary operating the online jewelry brand Candere. The transaction was executed through a rights issue of equity shares to accelerate the subsidiary’s expansion plans.
The Core Deal Breakdown
Here is what you need to know about the transaction details and entities involved in this capital allocation:
Target entity: Enovate Lifestyles Private Limited, operating the online jewelry brand Candere.
Parent investor: Kalyan Jewellers executing the strategic capital injection.
Total funding amount: ₹350 crore delivered via a rights issue of equity shares.
Strategic Deployment of Funds
The company intends to utilize these newly injected funds to accelerate Candere’s comprehensive growth strategy. Management is targeting a significant expansion of its physical retail store network across target markets.
Simultaneously, the capital will fund the further development and scaling of its digital platform. This move underscores the parent company’s direct commitment to strengthening its omnichannel presence and scaling its online-first jewelry business.