Sky Gold & Diamonds to Acquire Majority Stake in Shri Rishab Gold for Rs. 10 Crores

Sky Gold & Diamonds Ltd., a leading manufacturer and exporter of gold and diamond jewellery, announced that its wholly owned subsidiary, Starmangalsutra Pvt. Ltd., has entered into an non-binding term sheet to acquire a majority stake in Shri Rishab Gold, a reputed Mumbai-based jewellery firm. The partnership marks a significant step in Sky Gold & Diamonds’ strategy to establish India’s largest and most trusted mangalsutra-focused enterprise. The acquisition is expected to align Shri Rishab Gold’s operations with Starmangalsutra’s robust governance standards and efficient working capital model, enhancing synergies across product development, manufacturing, and distribution. The transaction is subject to customary closing conditions and requisite approvals.