What the board approved
On 18 September 2026, Sky Gold and Diamonds Limited said its board approved the acquisition of the entire issued, subscribed and paid-up share capital of Purvi Gems & Jewellery (India) Private Limited from its existing shareholders. The consideration is entirely in cash and capped at \u20b99 crore. Per the filing, the deal is not a related-party transaction, and the promoter, promoter group and group companies have no interest in the target.
The target
Purvi Gems, incorporated on 3 December 2010, manufactures jewellery and related articles \u2014 described in the filing as lightweight uncut and precia fine jewellery, adjacent to Sky Gold's own uncut and precia jewellery line. The company operates in India, and its reported turnover has risen over the last three financial years, with FY2025-26 based on provisional financials. The company stated the purchase is intended to expand its product portfolio, market share and customer segments within the gems and jewellery segment.
Timeline and approvals
The company said no governmental or regulatory approvals are applicable to the transaction, and that it expects completion on or before 30 November 2026. The board meeting ran from 8:40 AM to 8:55 AM IST.