Sky Gold & Diamonds Limited has successfully completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited on October 7, 2026. The transaction was completed for a cash consideration of ₹9 crores, which represents 1.5x of Purvi Gems' book value as of 31st March 2026.
Transaction Details
- Acquisition Completion Date: October 7, 2026
- Target Company: Purvi Gems & Jewellery (India) Private Limited
- Acquisition Structure: 100% equity share acquisition
- Consideration: ₹9 crores cash
- Valuation Multiple: 1.5x book value (as of March 31, 2026)
- Related Party Status: Not a related-party transaction
- Promoter Interest: No interest from Sky Gold promoters or promoter group in Purvi Gems
Strategic Rationale
The acquisition provides Sky Gold with immediate entry into the fast-growing lightweight uncut and precia jewellery segment. Purvi Gems specializes in manufacturing uncut and precia jewellery and related products, particularly in lightweight and studded jewellery categories. The acquisition is expected to:
- Enhance product diversification
- Strengthen presence across key domestic and export markets
- Provide exposure to higher-margin studded jewellery category
- Add approximately 100 kg of monthly sales capacity
- Unlock cross-selling opportunities across Sky Gold's customer network
- Enhance export opportunities, particularly in Middle East markets
Financial Expectations
The acquisition is expected to generate over ₹1,600-1,800 crore of annual revenue over the next two to three years. Purvi Gems brings established customer relationships, specialized manufacturing capabilities, and an experienced team.
Management Continuity
The management of Purvi Gems will continue overseeing the business going forward, ensuring continuity and supporting the integration process.
Acquisition Track Record
The document highlights Sky Gold's successful acquisition history:
- Sparkling Chains Pvt. Ltd.: Acquired for entry into chains segment. Turnover grew from ₹201 crore (March 2024) to ₹760 crore (March 2026); PAT from ₹0.1 crore to ₹22.3 crore.
- Starmangalsutra Pvt. Ltd.: Acquired for mangalsutra segment entry. Turnover grew from ₹171 crore (March 2024) to ₹622 crore (March 2026); PAT from ₹0.07 crore to ₹22.9 crore.
- Speed Bangle Pvt. Ltd.: Acquired in August 2025 for specialized lightweight bangle manufacturing. Turnover grew from ₹0.87 crore (March 2025) to ₹42 crore (March 2026); PAT from ₹0.07 crore to ₹16.6 crore.
- Shri Rishab Gold: Acquired in December 2025 to strengthen capabilities. Turnover grew from ₹49 crore (March 2025) to ₹175 crore (March 2026); PAT from ₹1.60 crore to ₹18.8 crore.
Management Commentary
Mr. Mangesh Chauhan, Managing Director: "Strategic acquisitions have been an important driver of Sky Gold's growth and value creation journey. Our disciplined approach to identifying and integrating businesses has helped us expand capabilities, diversify our product portfolio, improve operating efficiencies and strengthen profitability."
Mr. Jigar Mehta, Director Purvi Gems: "Over the last fifteen years, we have built a strong reputation in lightweight, uncut, and Precia jewellery through our commitment to quality, craftsmanship, and customer relationships. We believe Sky Gold's scale, manufacturing capabilities, extensive customer network, and proven track record provide the ideal platform for growth."
Company Background
Sky Gold and Diamonds Limited is a leading manufacturer of gold jewellery operating from a 1,50,000 sq. ft. facility in Navi Mumbai with capacity to process 14.4 tonne of gold per year. The company offers over 9,00,000+ design styles and serves both domestic and international markets.