Date: September 19, 2026

Board Meeting Outcomes

  • The Company has invested ₹350,00,00,000 (Rupees Three Hundred and Fifty Crore) in equity shares of Candere Lifestyle Jewellery Pvt Ltd
  • Investment made through subscription to 17,50,000 equity shares of ₹10 each on a Right Issue basis
  • The allotment of equity shares was completed on September 19, 2026

Disinvestment / Strategic Actions

Investment Details:

  • Entity: Candere Lifestyle Jewellery Pvt Ltd (wholly owned subsidiary)
  • Number of shares: 17,50,000 equity shares
  • Face value: ₹10 per share
  • Premium: ₹2000 per share
  • Total consideration: ₹350,00,00,000 (cash consideration)
  • No change in shareholding percentage - remains 100% wholly owned subsidiary

Strategic Rationale:

  • Objective: Entirely for repayment of loan extended by the holding company (Kalyan Jewellers India Ltd)
  • Impact: Will enable Candere to repay/pre-payment of certain outstanding borrowings

Subsidiary Financial Information:

  • Date of Incorporation: December 31, 2010
  • Paid up Capital: ₹38,21,300
  • Net worth as on March 31, 2026: ₹(325.14 million) [negative]
  • Turnover as on March 31, 2026: ₹4253.66 million
  • Profit/(Loss) After Tax as on March 31, 2026: ₹(127.77 million) [loss]

Historical Turnover:

  • March 31, 2026: ₹4253.66 million
  • March 31, 2025: ₹1638.15 million
  • March 31, 2024: ₹1303.47 million

Regulatory Compliance:

  • Transaction classified as related party transaction (wholly owned subsidiary)
  • Transaction considered at arm's length
  • Exempt under Regulation 23(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • No governmental or regulatory approvals required
  • No interest from promoter/promoter group/group companies beyond the Company's shareholding

Company Background:

  • Candere was incorporated as Enovate Information Technologies Private Limited on December 31, 2010
  • Name changed to Enovate Lifestyles Private Limited on June 11, 2012
  • Name changed to Candere Lifestyle Jewellery Private Limited on August 11, 2025
  • Line of Business: India-based E-commerce company involved in retail sale of jewellery