Sky Gold strengthens mangalsutra segment with Rishab Gold partnership

Sky Gold & Diamonds Limited, through its wholly-owned subsidiary Starmangalsutra Private Limited, announced a non-binding agreement to acquire a 51% partnership interest in Shri Rishab Gold (SRG). This strategic move aims to expand Sky Gold's customer portfolio and deepen market penetration within the high-growth traditional mangalsutra jewellery segment. The transaction, valued at approximately up to INR 10 Crores, is subject to customary closing conditions and requisite approvals, with an indicative completion period of 12 months.

Shri Rishab Gold, established in 2016, is a partnership firm specializing in jewellery manufacturing, particularly known for its strong presence in the mangalsutra segment. For the fiscal year 2024-25, SRG reported a turnover of INR 48.9 Crores and an EBIDTA of INR 3.87 Crores. The acquisition is not classified as a related party transaction.

This acquisition is expected to align Shri Rishab Gold's operations with Starmangalsutra's robust governance and efficient working capital model, fostering synergies in product development, manufacturing, and distribution. Sky Gold & Diamonds Limited, a leading gold jewellery manufacturer established in 2008, operates a 1,30,000 sq. ft. facility in Navi Mumbai and is listed on both BSE and NSE.