Sky Gold & Diamonds Limited announced its board has approved the acquisition of 100% of Purvi Gems & Jewellery (India) Private Limited. The deal, valued at up to ₹9,00,00,000 (Rupees Nine Crores) in cash, aims to expand market share, customer segments, and diversify the company’s product portfolio. The acquisition is expected to be completed by November 30, 2026.
Strategic Acquisition Approved
Sky Gold & Diamonds Limited (formerly Sky Gold Limited) has officially approved the acquisition of Purvi Gems & Jewellery (India) Private Limited. The Board of Directors, in a meeting held on September 18, 2026, resolved to acquire 100% of the issued, subscribed, and paid-up share capital of the target company. This strategic move is set to significantly enhance Sky Gold & Diamonds’ market presence and operational capabilities within the gems and jewellery sector.
Deal Rationale and Financials
The acquisition is driven by several key strategic objectives, including expanding the company’s market share, reaching new customer segments, and broadening its product portfolio to offer a more diverse range of jewellery. The aggregate cash consideration for this acquisition is set at up to ₹9,00,00,000 (Rupees Nine Crores). Purvi Gems & Jewellery (India) Private Limited reported a turnover of approximately ₹103.40 Crores as of March 31, 2026, indicating a substantial addition to Sky Gold & Diamonds’ existing business.
Target Company Background
Purvi Gems & Jewellery (India) Private Limited is primarily engaged in the manufacturing of jewellery and related articles, with a focus on lightweight uncut and precious fine jewellery. The company also undertakes related activities in the manufacturing and processing of jewellery and precious products. Incorporated on December 3, 2010, the company has demonstrated consistent turnover growth, with figures of ₹67.87 Crores in FY 2023-24 and ₹78.95 Crores in FY 2024-25.
Timeline and Confirmation
The acquisition is anticipated to be completed on or before November 30, 2026. The Board Meeting where this outcome was decided commenced at 8:40 AM IST and concluded at 8:55 AM IST on the same day. Further details as required by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are provided in the enclosed Annexure A.
Source: BSE
