What was filed
Sky Gold & Diamonds Limited told the exchanges, via a press release, that it has completed the acquisition of 100% of the equity of Purvi Gems & Jewellery (India) Private Limited on 7 October 2026. Purvi Gems manufactures uncut and precia jewellery and related products. The deal was all-cash and, per the filing, is not a related-party transaction — neither the promoter nor the promoter group of Sky Gold has any interest in Purvi Gems. The existing management of Purvi Gems will continue to run the business.
The strategic rationale
The company frames the deal as an entry into the lightweight uncut and precia jewellery segment and into the higher-margin studded jewellery category, which it says supports an improved product mix. It points to demand for these specialised products across South India and export markets, particularly the Middle East, and notes the acquired business adds potential monthly sales capacity. The filing describes the purchase price as a multiple of Purvi Gems' book value as of 31 March 2026 and states the acquired business is expected to generate annual revenue in a specified range over the next two to three years.
A pattern of bolt-on deals
The release sets Purvi Gems within a stated track record of acquisitions — Sparkling Chains, Starmangalsutra, Speed Bangle (erstwhile Ganna N Gold) and Shri Rishab Gold — each entered to broaden Sky Gold's product portfolio or customer base, with pre- and post-acquisition turnover and PAT given for each. Managing Director Mangesh Chauhan described the Purvi Gems deal as another step in the same disciplined, inorganic-growth approach. Purvi Gems director Jigar Mehta said the company has built its reputation over fifteen years in lightweight, uncut and precia jewellery.