Pursuant to Regulation of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that M/s Starmangalsutra Private Limited, a WOS of M/s Sky Gold & Diamonds Limited, has approved a proposal to enter into non-binding agreement to acquire 51% in M/s. Shri Rishab Gold, a partnership firm engaged in the business of jewellery manufacturing.
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Sky Gold & Diamonds has announced that its wholly owned subsidiary, Starmangalsutra Private Limited, has approved a proposal to acquire a 51% stake in Shri Rishab Gold, a partnership firm engaged in jewellery manufacturing. The agreement is non-binding at this stage, meaning the deal terms are still preliminary and not yet final. Shri Rishab Gold operates in the same jewellery manufacturing space as Sky Gold, suggesting a move towards backward integration or capacity expansion. The company has not disclosed the deal value or financial details yet. Shareholders will need to wait for further updates on definitive agreements and valuation.
If completed, this acquisition could strengthen Sky Gold's presence in jewellery manufacturing and add a new revenue stream. However, since the agreement is non-binding, there is uncertainty on whether the deal will ultimately go through, so investors should monitor for further clarity.