Kalyan Jewellers receives funding worth ₹500 crore

Leading Indian jewellery entity Kalyan Jewellers Ltd received an additional investment by Warburg Pincus LLC, to the tune of ₹500 crore, as per reports. Previous to this the Indian jeweller had received a funding worth ₹1,200 crore in 2014 from Warburg Pincus whose investment in the company now stands at ₹1,700 crore, reports add.

Kalyan Jewellers will employ the additional funding to support its expansion plans and acquisition opportunities, as per reports. Kalyan plans to increase its stores to 200 in the next three years, enter new markets of Saudi Arabia, Bahrain, Oman, Singapore and Malaysia and step up its domestic presence in Mumbai, Delhi, West Bengal, Rajasthan, Odisha and the southern states, and reach out to Uttar Pradesh and Madhya Pradesh markets, reports add.