Acquisitions18 Oct 2025, 01:02 pm
Sky Gold & Diamonds to Acquire Majority Stake in Shri Rishab Gold for Rs. 10 Crores
AI Summary
Sky Gold & Diamonds Ltd., a leading manufacturer and exporter of gold and diamond jewellery, has 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 subject to customary closing conditions and requisite approvals, and is expected to enhance synergies across product development, manufacturing, and distribution.
Key Highlights
- Sky Gold & Diamonds to acquire a majority stake in Shri Rishab Gold for approximately Rs. 10 Crores
- Acquisition to strengthen Sky Gold & Diamonds’ position in the mangalsutra segment
- Shri Rishab Gold known for its strong presence in the mangalsutra segment and rich client base
- Client relationships to be onboarded by Starmangalsutra, expanding its customer portfolio
- Alignment of Shri Rishab Gold’s operations with Starmangalsutra’s robust governance standards and efficient working capital model