Kalyan Jewellers India has invested Rs 350 crore in Candere Lifestyle Jewellery, its wholly owned subsidiary, through a rights issue. The company disclosed the transaction to stock exchanges.

Kalyan Jewellers Candere investment 

The Thrissur-based jewellery retailer subscribed to 17,50,000 equity shares of Candere at a face value of Rs 10 each, issued at a premium of Rs 2,000 per share. 

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The company said the entire sum is meant to repay loans Kalyan Jewellers had earlier extended to Candere. The filing described the transaction as being conducted at arm’s length, even though it falls within the ambit of related party transactions given Candere’s status as a wholly owned subsidiary.

Candere remains 100% Kalyan subsidiary

Since Candere is fully owned by Kalyan Jewellers, the rights issue does not alter the shareholding pattern between the two entities. Candere will continue to remain a 100% subsidiary after the infusion.

The filing also noted that no governmental or regulatory approvals were required for the transaction, and that the consideration was paid entirely in cash.

Candere revenue rises to Rs 425 crore

Candere, incorporated in 2010, runs an e-commerce jewellery retail business in India. As per the filing, it began as Enovate Information Technologies before being renamed Enovate Lifestyles in 2012, and then Candere Lifestyle Jewellery in August 2025.

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The company’s turnover has grown over the past three years, from Rs 130.3 crore in FY24 to 163.8 crore in FY25 and Rs 425.36 crore in FY26. Despite the revenue growth, Candere posted a net worth of negative Rs 32.51 crore as on March 31, 2026, and a loss after tax of Rs 12.77 crore for the year, the filing noted.

About Kalyan Jewellers India

Kalyan Jewellers India, founded in 1993 by T.S. Kalyanaraman, is one of India’s largest organised jewellery retailers, headquartered in Thrissur, Kerala. The company designs, manufactures and sells gold, diamond, silver and other jewellery products across price points, with wedding jewellery as its largest category. Its retail network spans over 500 showrooms across India, the Middle East and the United States, operated under the Kalyan and Candere brands.

Kalyan Jewellers share price today

Kalyan Jewellers India’s share price increased 0.29% as of early trade on September 21. The company’s share price declined 1.6% in the past month. However, Kalyan Jewellers India’s share price has increased 14.46% in the last year.