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RAPAPORT... One of India’s leading jewelers, Kalyan Jewellers, is set for expansion across the country with an $196 million (Rs 1,200 crore) investment from an affiliate of Warburg Pincus –- a leading private equity firm. The funding is believed to be the largest private equity investment in the jewelry manufacturing and distribution sector across India. The brand is driving toward increasing annual turnover to approximately $4 billion (Rs. 25,000 crore). With 55 exclusive outlets across South India, Mahatashtra, Gujarat, Punjab and New Delhi, the brand aims to enter newer regions in India with a special focus on strengthening its existing presence in North and West of the nation. The brand also has a strong presence in the United Arab Emirates with six exclusive outlets. The investment will also enable Kalyan Jewellers to scale up its presence in the Middle East -- opening in Kuwait and Qatar -- and also enter Southeast Asia. Ramesh Kalyanaraman, the executive director of Kalyan Jewellers, said, “Kalyan Jewellers is excited about its next phase of growth as we continue to challenge conventional beliefs and practices in the industry and create a strategy, which will shift the paradigm in the industry.” Warburg Pincus has more than $39 billion in assets under its management portfolio, with more than 125 companies across a highly diversified mix. Headquartered in New York, the investment firm has offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Port Louis, San Francisco, São Paulo and Shanghai.
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