Acquisitions24 Jun 2025, 03:45 pm
Sky Gold and Diamonds to Acquire Entity in Dubai for Faster Access to UAE Market
AI Summary
The Board of Directors of Sky Gold and Diamonds Limited has approved the acquisition of an entity in Dubai (UAE) instead of incorporating a new entity to expedite access to the UAE market. The new subsidiary will strengthen the company's exports to the Middle East.
Key Highlights
- Acquisition of a Dubai-based entity to expedite market access
- The new subsidiary will promote the company's products throughout the Middle East
- The acquisition is a wholly owned related party transaction
- The estimated capital of the new entity is approximately INR 12 Lakhs
- The acquisition is expected to complete within 2-3 months, subject to relevant approvals