Sky Gold & Diamonds Limited announced its board has approved the acquisition of 100% share capital of Purvi Gems & Jewellery (India) Private Limited. The deal, valued at up to ₹9,00,00,000 ( ₹9 Crores) in cash, aims to expand the company’s market share, customer segments, and product portfolio in the gems and jewellery sector. The acquisition is expected to be completed by November 30, 2026.
Acquisition of Purvi Gems & Jewellery Approved
Sky Gold & Diamonds Limited (formerly Sky Gold Limited) has announced a strategic move to acquire the entire 100% issued, subscribed, and paid-up share capital of Purvi Gems & Jewellery (India) Private Limited. The approval came during the Board of Directors meeting held on September 18, 2026. This acquisition is intended to bolster the company’s presence in the gems and jewellery market.
Deal Rationale and Financials
The transaction involves a total cash consideration of up to ₹9,00,00,000 (Rupees Nine Crores). The primary objectives of this acquisition include expanding Sky Gold & Diamonds’ market share, reaching new customer segments, and diversifying its product offerings to include a broader range of jewellery. Purvi Gems & Jewellery (India) Private Limited reported a turnover of approximately ₹103.40 Crores as of March 31, 2026. The company operates in the manufacturing of jewellery and related articles, focusing on lightweight uncut and precia fine jewellery.
Transaction Details and Timeline
The acquisition is structured as a cash consideration and is anticipated to be completed on or before November 30, 2026. The company has confirmed that this acquisition does not fall within the purview of a related party transaction, and the promoter/promoter group/group companies do not have any interest in the entity being acquired, ensuring the deal is conducted at ‘arms’ length’.
Target Company Background
Purvi Gems & Jewellery (India) Private Limited, incorporated on December 3, 2010, is primarily engaged in the business of manufacturing jewellery and related articles. Its operations span the gems and jewellery industry, with a focus on lightweight uncut and precia fine jewellery, alongside related manufacturing and processing activities for jewellery and precious products. The company has shown increasing turnover over the past few financial years, with provisional financials for FY 2025-26 standing at ₹103.40 Crores.
Source: BSE
