Lalithaa Jewellery Mart Limited has announced the allotment of 72,89,100 shares to its entity, Lalithaa Jewellery (M) SDN. BHD., in Malaysia. This transaction, effective from October 28, 2026, has resulted in the Malaysian company becoming a subsidiary of Lalithaa Jewellery Mart. The acquisition cost amounts to MYR 72,89,100 (approximately ₹7.29 crore), with the subsidiary poised to commence operations in gold, diamond, and silver retailing and wholesaling.
Subsidiary Acquisition in Malaysia
Lalithaa Jewellery Mart Limited has officially disclosed the allotment of 72,89,100 equity shares to its associated entity, Lalithaa Jewellery (M) SDN. BHD., based in Malaysia. This significant transaction, which occurred on October 28, 2026, has led to the Malaysian company becoming a subsidiary of Lalithaa Jewellery Mart Limited. The total cost for acquiring these shares was MYR 72,89,100, at a price of MYR 1 per share, constituting 91% of the subsidiary’s shareholding.
Business Expansion and Future Operations
The newly acquired subsidiary, Lalithaa Jewellery (M) SDN. BHD., is set to engage in the business of Gold, Diamond, and Silver Retailing and Wholesaling. Although the subsidiary’s turnover is yet to commence, this strategic move signals Lalithaa Jewellery Mart’s intention to expand its business presence internationally, particularly within the Malaysian market. The company aims to leverage this acquisition to grow its operations beyond its current primary line of business.
Transaction Details
The acquisition falls under the category of a related party transaction, as Lalithaa Jewellery (M) SDN. BHD. has become a subsidiary. However, the company has stated that there is no other interest in this transaction by promoters, the promoter group, or other group companies, and it has been conducted on an ‘arm’s length’ basis. No specific governmental or regulatory approvals were required for this allotment, and the completion is considered immediate upon the allotment.
Source: BSE
