Kalyan Jewellers block deal: Highdell Investment sells ₹725 cr shares; BNP Paribas buys ₹190 cr; check other buyers

Block deal: Kalyan Jewellers witnessed huge buying and selling in the open market on Friday. Highdell Investment offloaded nearly ₹725 crore worth of stake in Kalyan, while BNP Paribas was among the top buyers with an investment of nearly ₹190 crore. Citigroup, Franklin mutual funds, Employees Provident Fund, and Sundaram MFs were among other buyers.

As per NSE data, Highdell Investment offloaded 6,41,02,561 equity shares at a price of ₹113.10 apiece. The transaction aggregated to ₹724.99 crore.

As of March 31, 2023, Highdell held 24,53,31,151 equity shares or 23.82% in Kalyan.

While Highdell sold a portion of its stake in Kalyan, there were multiple buyers in the open market. Among the most to buy would be BNP Paribas Arbitrage who purchased 1,67,99,292 equity shares at ₹113.10 apiece in Kalyan.

BNP's buying aggregated to ₹189.99 crore.

Citigroup Global Markets Mauritius bought 44,20,866 equity shares in Kalyan, while Employees Provident Fund purchased 22 lakh equity shares. Nomura India Investment Fund Mother Fund bought 85,02,316 equity shares, and Nomura Funds Ireland PLC also bought 35,98,743 equity shares.

Sundaram Mutual Funds such as Sundaram Balanced Advantage Fund, Sundaram Consumption Fund, and Sundaram Aggressive Hybrid Fund -- were also among buyers.

Also, Franklin Templeton Mutual Funds, Universal-Investment-Gesellschaft MBH, TINIESA, TNTBC as the Trustee of Nomura India Stock Mother Fund, AEMV, AVAW, and AVS-MF -- were other buyers.

On BSE, Kalyan Jewellers' stock price closed at ₹131.65 apiece, surging by ₹17.35 or 15.18%.

The stock had hit a new 52-week high of ₹135 apiece on BSE.

Before the block deal, Kalyan's stock ended at ₹114.30 apiece on Thursday.

ICICI Securities has recommended 'Buy' rating on Kalyan Securities for a target price of ₹160 apiece.