Deal Closed | Kalyan Jewellers India Limited | Proposed IPO

The detail of the deal are:

Sector: Gems and Jewellery 

Announcement Date: 24th August 2020

Name of client: Kalyan Jewellers India Limited

Kalyan Jewellers India Limited designs, manufactures and sells a wide range of gold, studded and other jewellery products across various price points. It is a pan-India jewellery company, with 107 showrooms located across 21 states and union territories in India, and also has an international presence with 30 showrooms located in the Middle East as of June 30, 2020

Deal description: Acted as Legal Counsel to the Lead Managers as to Indian Law in relation to the proposed initial public offering of Kalyan Jewellers India Limited comprising of a fresh issue of equity shares of Kalyan Jewellers India Limited and an offer for sale of equity shares by Mr. T.S. Kalyanaraman and Highdell Investment Ltd cumulatively aggregating to INR 17,500 million (USD 238 million).

Total consideration: INR 17,500 million (USD 238 million)

Team members: Abhimanyu Bhattacharya (Partner), Aditya Cheriyan (Partner), Navodita Gupta (Principal Associate), Vijayaraghavan (Senior Associate) and Raghav Bhatia (Associate)

Role of the firm: Legal Counsel to the Lead Managers as to Indian Law

Financial advisors: The following were the Lead Managers to the Offer: Axis Capital Limited; Citigroup Global Markets India Private Limited; ICICI Securities Limited; SBI Capital Markets Limited; and BOB Capital Markets Limited

Other legal advisors if any with names of Lead Lawyers: AZB & Partners– Legal Counsel to the Issuer as to Indian Law; Cyril Amarchand Mangaldas - Legal Counsel to the Investor Selling Shareholder as to Indian Law; Latham & Watkins LLP– International Legal Counsel to the Lead Managers

Unique feature of the transaction: The Offer includes equity shares tendered by Highdell Investment Ltd, a part the Warburg Pincus group, a global private equity firm.