SKY GOLD AND DIAMONDS LIMITED has informed the Exchange regarding 'This is to inform you that pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI (Issue of Capital and Disclosure Requirements) 2018, the Board at its meeting held on 18th April 2025 and Resolution passed by members through Postal Ballot on 21st May 2025, has considered and approved the issue of equity shares on Preferential Basis for a consideration other than Cash.'.
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.1 pts less than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sky Gold and Diamonds has approved the issuance of 60,95,074 equity shares on a preferential basis at Rs. 369 per share (face value Rs. 10, premium Rs. 359). The total issue size aggregates to roughly Rs. 224.9 crore. Importantly, the consideration is entirely non-cash, meaning the shares are being allotted against some other value transfer (likely an acquisition) rather than fresh cash inflow. Approvals were secured via the Board on April 18, 2025 and through a Postal Ballot by members on May 21, 2025.
Existing shareholders will face equity dilution, but since the issue is for non-cash consideration, no cash inflow occurs. The move is typically aimed at funding an acquisition or strategic deal, which could be value-accretive if the acquired asset performs well. Watch for follow-up disclosure on what the company is receiving in exchange for these shares.