Jewellery retailer Kalyan Jewellers India Ltd on Saturday (September 19) said it has invested ₹350 crore in its wholly owned subsidiary Candere Lifestyle Jewellery Pvt Ltd through subscription to 17.5 lakh equity shares on a rights issue basis.

Kalyan Jewellers subscribed to 17,50,000 equity shares with a face value of ₹10 each at a premium of ₹2,000 per share, taking the total investment to ₹350 crore. The allotment of the shares was completed on September 19, 2026.

"We would like to inform you that the company has invested 350,00,00,000/- (Rupees Three Hundred and Fifty Crore only) in the equity shares of Candere Lifestyle Jewellery Pvt Ltd, a wholly owned subsidiary of the Company by way of subscription to 17,50,000 equity shares of Rs 10 each on a Right Issue basis," according to a stock exchange filing.

The company said the capital infusion is entirely for repayment of the loan extended by Kalyan Jewellers to Candere. The investment will also enable Candere to repay or prepay certain outstanding borrowings. There will be no change in Kalyan Jewellers' shareholding in Candere, which will continue to be a 100% wholly owned subsidiary.

Candere is a related party of Kalyan Jewellers, and the transaction falls within the ambit of related party transactions. The company said the transaction is at arm's length and is exempt under Regulation 23(5) of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Candere operates in the jewellery sector and is an India-based e-commerce company involved in the retail sale of jewellery. As of March 31, 2026, Candere had a paid-up capital of ₹38.21 lakh, net worth of negative ₹32.51 crore, turnover of ₹425.37 crore and a loss after tax of ₹12.78 crore. Candere's turnover stood at ₹163.82 crore as of March 31, 2025, compared with ₹130.35 crore as of March 31, 2024.

Candere was incorporated on December 31, 2010, as Enovate Information Technologies Pvt Ltd under the Companies Act, 1956. Its name was subsequently changed to Enovate Lifestyles Pvt Ltd in 2012 and later to Candere Lifestyle Jewellery Pvt Ltd in August 2025.

No government or regulatory approval was required for the investment, the company said.

On Friday (September 18), shares of Kalyan Jewellers India Ltd ended at ₹584.00, down by ₹2.00, or 0.34%, on the BSE.

Courtesy: CNBCTV