Mangaluru: Shares of Kalyan Jewellers Ltd. are likely to remain in focus after reports emerged that a prominent domestic mutual fund is planning to sell around five crore shares through a large block deal.
According to sources familiar with the development, the proposed transaction is expected to be executed outside the exchange-designated block deal window and could take place at any time.
Deal may be priced at a discount
The proposed share sale is likely to be priced at an 8% to 10% discount to Kalyan Jewellers’ prevailing market price, making it one of the notable transactions involving the company’s stock in recent months.
If completed, the transaction would involve approximately five crore shares, representing a significant volume of the company’s equity.
Mutual fund likely to retain stake
Despite the planned sale, the domestic mutual fund is expected to continue as a shareholder in Kalyan Jewellers after the transaction, according to people familiar with the matter.
The move suggests the sale may be aimed at portfolio rebalancing rather than a complete exit from the company.
Stock likely to remain in focus
The size of the proposed transaction and the expected pricing discount are likely to keep Kalyan Jewellers shares under close watch in the coming trading sessions.
Market participants will also monitor the identity of the buyers and the final execution price once the deal is completed.
According to the report, two investment bankers have been appointed to manage the proposed block deal.
The company has not made any official announcement regarding the reported transaction, and the details remain based on information from sources familiar with the matter.