SKY GOLD AND DIAMONDS LIMITED has informed the Exchange regarding 1st Corrigendum to the Notice of Postal Ballot dated 21st April 2025.
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Sky Gold and Diamonds Limited has issued a corrigendum to its April 21, 2025 postal ballot notice, incorporating changes suggested by the stock exchanges. The company is seeking shareholder approval to issue 60,95,074 equity shares at Rs. 369 per share (face value Rs. 10 plus a Rs. 359 premium) on a preferential basis to acquire 100% of M/s Ganna N Gold Private Limited through a share swap. The total transaction value is approximately Rs. 224.91 crore, with the two non-promoter allottees, Mr. Jinesh Ganna and Mr. Vikas Ganna, each receiving 30,47,537 shares and ending up with a 2.01% stake each in the post-issue capital. The floor price of Rs. 365.60 was determined by an independent registered valuer. The corrigendum clarifies and supplements the original notice but does not change the fundamental structure of the transaction. Promoter holding will dilute modestly from 58.18% to 55.86%, with no change in management control. E-voting concludes on May 21, 2025.
Existing public shareholders will see about 4% dilution as 60.95 lakh new shares are issued, but the deal is entirely non-cash and expands Sky Gold's presence in the gold, silver, and jewellery business through the acquisition of Ganna N Gold. The corrigendum itself is procedural and largely reinforces the previously announced swap terms.