Goldiam International Limited has successfully passed its quarterly monitoring review for the utilization of proceeds from its Rs. 202.05 crore Qualified Institutional Placement (QIP), according to a report issued by CARE Ratings Limited for the quarter ended December 31, 2025.

QIP Utilization Overview

The monitoring agency confirmed that all proceeds utilized during Q3FY26 were in accordance with disclosures made in the placement document. The company has maintained transparency in fund deployment while ensuring optimal returns on unutilized amounts.

Fund Deployment Progress

The primary objective of the QIP is funding expenditure towards setting up 63 new brand-exclusive stores across India, with a total allocation of Rs. 194.96 crore. During Q3FY26, the company made significant progress in this initiative.

Store Expansion Activities

The company has opened 13 new retail stores till January 07, 2026, and signed MoUs for 19 additional stores planned for the coming months, progressing toward its target of 63 stores.

Investment of Unutilized Proceeds

CARE Ratings noted that Rs. 183.97 crore of unutilized proceeds have been strategically invested across various instruments to generate returns while maintaining liquidity for future deployment.

Investment Portfolio Breakdown

Regulatory Compliance and Approvals

The monitoring report confirmed that the company has obtained all necessary government and statutory approvals related to the project objectives. Board resolution dated August 11, 2025, authorized the management to invest unutilized QIP proceeds in creditworthy instruments until required for deployment.

Risk Factors and Market Considerations

CATE Ratings highlighted that the company derived approximately 99% of its sales in FY25 from exports, with the US contributing more than 95% of revenue. The monitoring agency noted that potential imposition of additional import tariffs on India could impact the company's performance in coming quarters.

The report also mentioned that Rs. 29.43 crore of unutilized proceeds have been invested in non-convertible debentures with maturities extending beyond the timeline specified in the placement document, though the company clarified these are listed instruments that can be liquidated within 2-3 working days.

Implementation Timeline

According to the placement document, the company plans to deploy Rs. 85.19 crore by March 31, 2026, and Rs. 110.01 crore by March 31, 2027. As of December 31, 2025, Rs. 13.44 crore has been utilized against the first milestone, indicating steady progress toward the implementation schedule.

The monitoring report found no deviations from the stated objectives and confirmed that shareholder approval requirements were not applicable as no material deviations occurred during the quarter.

Source: Exclusive

Goldiam international has announced securing significant export orders worth Rs 80 crores for manufacturing and export of lab-grown diamond jewellery. The Mumbai-based manufacturer and exporter disclosed this development under Regulation 30 of SEBI (LODR) Regulations, 2015, highlighting the company's expanding international presence in the lab-grown diamond segment.

Order Details and Timeline

The export orders have been awarded by international clients from the USA and Middle East markets. The company expects to fulfill these orders on or before April 30, 2026, ensuring strong business momentum in the near term. Notably, the disclosed figure of Rs 80 crores does not include the company's online orders, suggesting additional revenue streams beyond these contracted exports.

Product Focus and Market Positioning

The orders specifically involve lab-grown diamond studded gold jewellery, reflecting the growing global demand for sustainable and ethically sourced diamond alternatives. This development positions Goldiam International strategically in the expanding lab-grown diamond market, particularly in key international markets including the USA and Middle East regions.

Regulatory Compliance and Transparency

In compliance with SEBI regulations, Goldiam International confirmed that the promoter group has no interest in the entities awarding these orders, and the contracts do not fall under related party transactions. This ensures arms-length dealings and maintains transparency in the company's business operations.

Business Impact

The Rs 80 crore order book represents a substantial business development for Goldiam International, demonstrating the company's capability to secure large-scale international contracts in the competitive jewellery export market. The focus on lab-grown diamonds aligns with global trends toward sustainable luxury products, potentially opening additional market opportunities for the company.