Sky Gold's Subsidiary to Acquire 51% Stake in Jewellery Firm Shri Rishab Gold

* Sky Gold & Diamonds Limited announced that its wholly-owned subsidiary, Starmangalsutra Private Limited, has approved a proposal to enter into a non-binding agreement to acquire a 51% partnership interest in M/s. Shri Rishab Gold. * Shri Rishab Gold is a partnership firm engaged in jewellery manufacturing, particularly known for its strong presence in the mangalsutra segment, with a rich client base including one of India’s largest jewellery brands. * The proposed acquisition is for approximately up to ₹10 crore, to be paid in cash. * As of March 31, 2025, Shri Rishab Gold reported a turnover of ₹48.9 crore and an EBIDTA of ₹3.87 crore. * The acquisition's primary objective is to expand the customer portfolio and deepen market penetration in the high-growth traditional mangalsutra jewellery segment. * It also aims to align Shri Rishab Gold’s operations with Starmangalsutra’s governance standards and efficient working capital model, enhancing synergies across product development, manufacturing, and distribution. * Mr. Mangesh Chauhan, Managing Director of Sky Gold & Diamonds Ltd., stated that this acquisition reinforces their commitment to building leadership in specialized jewellery categories and will drive category growth and long-term value creation. * The indicative time period for completion of the acquisition is 12 months, subject to relevant approvals. * The transaction is subject to customary closing conditions and requisite approvals.