Mini Diamonds (India) Ltd announced that its wholly owned subsidiary, Namra Jewels Private Limited, will launch a new collection of gold and silver idols weighing 20 to 100 grams ahead of Dussehra. This move marks the company's strategic entry into the precious metal idol segment, aiming to capture festive and devotional demand.

Product launch details

The new collection combines traditional religious significance with contemporary craftsmanship. Namra Jewels intends to target customers seeking products for personal worship, festive purchases, and gifting. The initiative is designed to diversify the subsidiary's offerings beyond its existing jewellery lines, addressing additional consumer segments within the Indian market.

Strategic rationale

Management stated that precious metals hold a central place in Indian households during festivals. By expanding into occasion-based products, Namra Jewels aims to strengthen its presence in the festive market. The company views this as a step toward building a diversified precious metal retail brand with a wider range of offerings.

About the company

Mini Diamonds (India) Limited is listed on BSE and operates in cut and polished diamonds, lab-grown diamond jewellery, and manufacturing. The company serves both domestic and international markets through B2B and B2C channels.

Mini Diamonds (India) Ltd has allotted 1.11 crore convertible warrants to its promoter and promoter group entities via a preferential issue on private placement basis. The allotment, approved by the Board of Directors on October 13, 2026, was executed at a price of ₹8 per warrant.

The company received a subscription amount of ₹2.22 crore, representing 25% of the total warrant issue price. Each warrant is convertible into one fully paid-up equity share with a face value of ₹2. The remaining 75% of the issue price is payable upon conversion.

Allotment details

The warrants were issued to two key individuals within the promoter group: Upendra Narottamdas Shah, the Managing Director, and Ronish U Shah, an Executive Director. Both received an equal number of warrants.

Conversion terms and regulatory compliance

The warrant holders are entitled to exercise their warrants in one or more tranches at any time within 18 months from the date of allotment. To convert the warrants into equity shares, holders must pay the remaining 75% of the warrant issue price for each proposed conversion.

This action follows earlier disclosures made on July 9, 2026, and August 10, 2026, regarding the issuance of warrants. The allotment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.