Mumbai: US Private equity firm Warburg Pincus LLC has agreed to buy a significant minority stakein Kalyan Jewellers for about $200 million, five sources with knowledge of thetransaction told NU on Monday.
The jewellery manufacturer and retailer will use the capital for expansionpurposes, said the sources, who declined to be named as they were not authorisedto speak to the media.
"The deal is almost done and we may probably announce it later theday," said one of the sources, who is directly involved in the stake sale.
Kalyan and Warburg Pincus did not have immediate comments when asked byNU.
Sources had told NU in March that multiple private equity funds were inseparate talks with Kalyan to invest  between$200 million and $250 million.
Private equity funds have invested $4.6 billion in the country so far thisyear, compared with $3.1 billion in 2013, Thomson NU data showed.Consumer-related investments contributed to a fifth of the total private equityinflows so far this year.

(TET)