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Sky Gold and Diamonds Acquires Ganna N Gold for Rs. 225 Crore, Enters Bangles Manufacturing

Sky Gold and Diamonds Limited, formerly known as Sky Gold Limited, has announced the acquisition of Ganna N Gold, a Mumbai-based jewellery manufacturing company specialising in gold bangles. The deal, valued at Rs. 225 crore, is an all-share swap with no cash outflow. This acquisition will enable Sky Gold and Diamonds to foray into the manufacturing of machine-made and handmade bangles, enhancing its product profile and servicing its strong customer base. Ganna N Gold, established in 2021, is a leading jewellery manufacturing player with tax benefits under section 115BAB. The key management team of Ganna N Gold will be integrated within the larger organisation. Sky Gold and Diamonds operates a state-of-the-art manufacturing facility in Navi Mumbai and employs over 850 people. The company's products are sold across 2000+ retail outlets through its B2B partners.

• Sky Gold and Diamonds acquires Ganna N Gold for Rs. 225 crore
• 100% share-swap deal with no cash outflow
• Foray into manufacturing of machine-made and handmade bangles
• Ganna N Gold has a good product recall and inhouse design capabilities
• Key management team of Ganna N Gold to be integrated within the larger organisation