Chordia Family Announces Voluntary Open Offer for 22.97% Stake in Swarnsarita Jewels India Limited

The Chordia family has announced a voluntary open offer to acquire a significant stake in Swarnsarita Jewels India Limited , marking a strategic move to increase their shareholding in the jewelry company. The offer, managed by Mark Corporate Advisors Private Limited, targets public shareholders and demonstrates the promoters' confidence in the company's prospects.

Open Offer Structure and Pricing

The voluntary open offer seeks to acquire up to 47,94,987 equity shares of face value ₹10.00 each, representing 22.97% of the voting share capital of Swarnsarita Jewels India Limited. The offer has been structured in compliance with Regulation 6 of SEBI (SAST) Regulations, 2011.

Parameter	Details
Offer Size	47,94,987 equity shares
Percentage of Voting Capital	22.97%
Offer Price per Share	₹32.15
Total Consideration	₹15,41,58,832.05
Payment Mode	Cash
Face Value per Share	₹10.00

The offer price of ₹32.15 per equity share has been determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations, 2011, as the equity shares are frequently traded on BSE Limited.

Acquirer Details and Current Holdings

The open offer is being made by three members of the Chordia family, who currently serve in key management positions within the target company. Their existing shareholding and roles demonstrate their deep involvement in the company's operations.

Acquirer Details	Mahendra Madanlal Chordia	Asha M. Chordia	Sunny Mahendra Chordia	Combined
Current Shareholding	8,01,243 shares	2,30,700 shares	4,23,483 shares	14,55,426 shares
Percentage Holding	3.84%	1.10%	2.03%	6.97%
Role in Company	Managing Director	Promoter	Whole-time Director	-
PAN	AACPC3408L	ADLPC2460J	APPPC6577A	-

All three acquirers share the same address at 901, Silver Solitaire CHS, Tilak Road, Opp. Axis Bank, Ghatkopar (East), Mumbai-400077, Maharashtra, India.

Target Company Information

Swarnsarita Jewels India Limited operates in the jewelry sector and maintains its corporate presence in Mumbai's traditional jewelry hub. The company's equity shares are listed on BSE Limited under scrip code 526365 with the symbol SWARNSAR.

Company Details	Information
CIN	L36911MH1992PLC068283
ISIN	INE967A01012
Listing Exchange	BSE Limited
Scrip Code	526365
Symbol	SWARNSAR
Registered Office	10, 1st Floor, Plot-40/42, Ruby Chambers, Dhanji Street, Zaveri Bazar, Mumbai-400003
Corporate Office	104 Floor First Floor, 17/19, Swarn House, Dhanji Street, Zaveri Bazar, Mumbai-400003

Regulatory Compliance and Timeline

The open offer follows a voluntary structure under SEBI regulations, with no minimum acceptance threshold required. Mark Corporate Advisors Private Limited, registered with SEBI under registration number INM000012128, serves as the manager to the offer.

Key regulatory milestones include:

The Detailed Public Statement (DPS) will be published on or before January 30, 2026
The offer is not conditional upon minimum acceptance levels
No competing offer provisions apply
The acquirers have confirmed adequate financial arrangements for the transaction

The acquirers have accepted full responsibility for the information contained in the public announcement and confirmed their commitment to comply with all SEBI (SAST) Regulations, 2011 obligations. The offer represents a straightforward voluntary acquisition without any underlying triggering transaction, as the promoters seek to consolidate their position in the jewelry company.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.49%	-8.32%	+1.54%	+0.94%	-18.60%	+155.51%

Swarnsarita Gems , a prominent player in the Indian jewelry sector, has announced its unaudited financial results for the second quarter ended September 30, 2025, showcasing a robust performance with substantial improvement in profitability.

Financial Highlights

The company's financial results for Q2 FY2026 reflect a strong growth trajectory:

Particulars (Rs. in Lacs)	Q2 FY2026	Q2 FY2025	YoY Change
Revenue from Operations	25,372.56	20,356.34	+24.64%
Net Profit After Tax	599.69	535.92	+11.90%
EPS (Basic & Diluted) (Rs.)	2.88	2.57	+12.06%

The standalone financial results show a significant year-over-year increase in revenue from operations, rising from Rs. 20,356.34 lacs in Q2 FY2025 to Rs. 25,372.56 lacs in Q2 FY2026, marking a robust growth of 24.64%. This substantial revenue growth has translated into improved profitability, with the net profit after tax increasing by 11.90% to Rs. 599.69 lacs, compared to Rs. 535.92 lacs in the same quarter of the previous fiscal year.

Operational Performance

The company's operational efficiency is evident in its ability to manage costs effectively despite the increase in revenue. The cost of material consumed saw a proportionate increase, aligning with the revenue growth. However, the company managed to keep other expenses in check, contributing to the overall profitability.

Corporate Governance

In a move that underscores its commitment to strong corporate governance, Swarnsarita Gems' Board of Directors approved an amended Related Party Policy during their meeting held on November 14, 2025. This step is likely to enhance transparency and ensure compliance with regulatory requirements.

Balance Sheet Strength

As of September 30, 2025, the company's balance sheet remains robust:

Total Assets stood at Rs. 23,390.25 lacs
Total Equity increased to Rs. 14,406.64 lacs
Current Assets were reported at Rs. 22,261.89 lacs

The company's strong asset base and healthy equity position provide a solid foundation for future growth and expansion initiatives.

Market Outlook

While the company has not provided specific forward-looking statements, the jewelry sector in India continues to show resilience and growth potential. Swarnsarita Gems' strong performance in Q2 positions it well to capitalize on market opportunities.

The board meeting, which commenced at 06:00 PM (IST) on November 14, 2025, concluded at 08:00 PM (IST), reflecting a thorough review and approval process for the financial results and policy amendments.