Sky Gold & Diamonds approved the acquisition of a 100% stake in Purvi Gems & Jewellery (India) Private Limited for a cash consideration of up to ₹9 crore. The board sanctioned the deal on September 18, 2026, aiming to expand its product portfolio in the lightweight uncut and precious jewellery segment.

The transaction is not classified as a related-party transaction, with no promoter or group company interest in the target entity. The acquisition is expected to be completed by November 30, 2026. No governmental or regulatory approvals are required for the deal.

Target Company Financials

Purvi Gems & Jewellery operates in the manufacturing of jewellery and related articles. The company has shown consistent growth in turnover over the past three years.

*FY 2025-26 figures are based on provisional financials.

Strategic Rationale

The acquisition supports Sky Gold & Diamonds' strategy to diversify its product offerings and expand market share. By integrating Purvi Gems, which specialises in lightweight uncut and precious fine jewellery, the listed entity aims to broaden its customer segments and foster strategic partnerships.

What the Numbers Show

The purchase price of up to ₹9 crore represents less than 9% of Purvi Gems' provisional FY26 turnover of ₹103.40 crore. This low multiple suggests the acquisition is primarily volume and portfolio-driven rather than paying a premium for immediate earnings power. The target's turnover grew from ₹67.87 crore in FY24 to ₹103.40 crore in FY26, indicating a strong top-line trajectory that aligns with Sky Gold & Diamonds' goal of driving financial growth through expanded market positioning.

Sky Gold & Diamonds has cancelled its investor meeting originally scheduled for September 9, 2026. The company cited unavoidable exigencies as the reason for the cancellation in a disclosure filed with stock exchanges.

The firm had previously intimated the market about the meet on September 1, 2026. The cancellation notice was signed by Managing Director Mangesh Chauhan and filed from Navi Mumbai on September 9, 2026.

Regulatory Disclosure

The company submitted the cancellation intimation pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates timely disclosure of material events to stock exchanges.

Sky Gold & Diamonds Limited, formerly known as Sky Gold Limited, stated that it will intimate any further updates to the stock exchanges. The disclosure was directed to both the BSE Limited and the National Stock Exchange of India Limited.