Sky Gold & Diamonds to Acquire Purvi Gems in Strategic Move to Drive Growth, Achieve Scale and Product Diversification

Mumbai, October 8, 2026: Sky Gold & Diamonds Ltd., (Sky Gold) one of India’s leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. Following the completion of the acquisition on October 7, 2026, Sky Gold is well-positioned to leverage Purvi Gems’ expertise in lightweight and studded jewellery to accelerate growth, enhance product diversification and strengthen its presence across key domestic and export markets.

The transaction is completed for a cash consideration of ₹9 crores which represents 1.5x over its book value as of 31st Mar’26 and does not constitute a related-party transaction. Neither the promoter nor the promoter group of Sky Gold has any interest in Purvi Gems, reflecting the Company’s disciplined approach towards capital allocation and inorganic growth. The management of Purvi Gems to continue overseeing this business going forward, ensuring continuity and supporting the integration process.

Purvi Gems has built a strong position in specialised jewellery segments that continue to witness growing demand across key regions, including South India and Export market. The acquisition is expected to further enhance company’s exports while strengthening its ability to cater to evolving customer preferences in high margin studded jewellery business. 

Key Strategic Benefits from Purvi Gems’ acquisition:

• Immediate entry into the fast-growing lightweight uncut & precia jewellery segment, expanding Sky Gold’s addressable market
• Increased exposure to the higher-margin studded jewellery category, supporting improvement in product mix and profitability
• Potential of ~100 kg of monthly sales, enhancing scale and operational flexibility
• Opportunity to unlock cross-selling opportunities and increase wallet share by leveraging Purvi Gems’ product portfolio across Sky Gold extensive customer network 
• Enhances export opportunity through specialised products with strong demand across key international markets, particularly the Middle East
• Acquisition completed at book value, providing access to a business expected to generate over ₹1,600-1,800 crore of annual revenue over the next two to three years, along with established customer relationships, specialised manufacturing capabilities, and an experienced team
• Continues Sky Gold’s proven acquisition, which has historically contributed to enhanced scale and improved market positioning

The acquisition represents another important milestone in the company’s growth journey and is aligned with the long-term strategy of expanding its capabilities through carefully selected and strategically relevant acquisitions mainly in value added products having higher margins. Over the years, Sky Gold has successfully integrated acquired businesses to strengthen its market position, broaden its product offerings, improve operational efficiencies and create long-term value for stakeholders. The acquisition of Purvi Gems builds on this track record and further enhances the Company’s presence across high-growth jewellery categories.

Track Record of Successful Acquisitions

Commenting on the development, Mr. Mangesh Chauhan, Managing Director, Sky Gold & Diamonds Ltd., said: “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. Past acquisitions have contributed meaningfully to our scale and growth while creating long-term value for stakeholders. The acquisition of Purvi Gems is another step in this direction. The business brings complementary capabilities in the lightweight uncut and studded jewellery segments, an established customer base and a skilled team. Given our proven track record of successfully integrating acquisitions and realizing operational synergies, we are confident that Purvi Gems will further strengthen our growth platform and support sustainable long-term value creation.”

Commenting on the development, Mr. Jigar Mehta, Director Purvi Gems & Jewellery (India) Pvt. Ltd., said: 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 of integrating and growing acquired businesses provide the ideal platform for the next phase of our growth.

About Sky Gold & Diamonds Limited

Sky Gold and Diamonds Limited is a leading manufacturer of gold jewellery, renowned for its precision craftsmanship and innovative design. Established in 2008 and listed on both BSE and NSE, the Company operates from an 1,50,000sq. ft. advanced facility in Navi Mumbai, equipped with German and Italian machinery and capable of processing 14.4 tonne of gold per year. 

With a design library of over 9,00,000+ styles, We offer a wide range of rings, chains, mangalsutra, bracelets, pendants, earrings, and customized jewellery, often enhanced with American diamonds, Natural Diamonds, Lab Grown Diamonds and colour gem stones. Our deep understanding of regional tastes enables us to create localized collections that appeal to diverse customer preferences across India. Serving leading jewellery brands wholesalers, distributors, retailers, and, we cater to both special occasions and daily wear segments across multiple price points. Our in-house and freelance designers work together to ensure every piece reflects the finest quality, timeless beauty, and enduring value.

At Sky Gold and Diamonds, we believe that jewellery is more than mere ornamentation it is a reflection of heritage, personal identity, and individual style. We blend the artistry of traditional craftsmanship with modern technology, creating feather-light jewellery that aligns with evolving customer preferences. Our unwavering focus on innovation, quality, and customer satisfaction continues to strengthen our position as one of India’s most trusted names in gold jewellery manufacturing, serving both domestic and international markets