First Founding Franchisee appointed for Aurel Forever Yours retail brand in Chamba, Himachal Pradesh

Franchise & Growth Agreement executed 11 Oct 2026 with M/s Dharam Pal Bullion & Jewels, Chamba.

Mon 12 Oct 2026

Franchise Processing Fee

One-time processing fee Rs. 10,000 plus GST

Agreement Date

11 Oct 2026

Royalty Terms

no royalty in the initial term

What was announced

The company executed a Franchise & Growth Agreement on Sunday, 11 October 2026 with M/s Dharam Pal Bullion & Jewels, a partnership firm with its principal place of business at Near Laxmi Narayan Temple, Dogra Bazaar, Chamba, Himachal Pradesh. Under the agreement the firm has been appointed an authorised franchisee and the Founding Franchisee of the company's retail brand 'Aurel Forever Yours®'. This is the first franchise outlet of the Aurel Forever Yours network, and the company describes it as the commencement of its franchise-led retail expansion for physical gold and silver bullion, jewellery and allied products. The franchised outlet at Dogra Bazaar, Chamba was inaugurated on 11 October 2026.

Key terms of the agreement

• Term of 5 years from 11 October 2026, renewable for 5 years with priority renewal, and a 12-month lock-in for the franchisee.
• Exclusive Aurel brand rights in Chamba District, with a right of first refusal on new outlets in the territory and adjacent areas.
• One-time Franchisee Processing Fee of Rs. 10,000 plus GST; no royalty or recurring franchise fee during the initial term.
• Products supplied by the company at base cost plus an agreed supply margin and minting charges; commission payable to the franchisee on facilitated plan enrolments and AMANTRA sales.
• Exclusive sourcing of Aurel-branded products from the company; brand, IP and customer data remain with the company.
• Buy-back of sealed, untampered Aurel bullion on expiry or termination.
• Arbitration seated at Amritsar.

About the franchisee

The franchisee is a partnership firm under the Indian Partnership Act, 1932, whose business is trading, retail and dealing in gold and silver bullion, jewellery, silverware and allied articles. Its partners are Mr. Ashok Mahajan, Mrs. Tanvi Sharma, Mr. Ritesh Mahajan, Mr. Rajesh Kumar and Mr. Rishab Mahajan, with Mrs. Tanvi Sharma, Mr. Ritesh Mahajan and Mr. Rishab Mahajan as working partners. The update describes the partners as belonging to a Chamba business family with established interests in cloth trading, restaurant and hotel businesses.

Promoter family link

The partners of the franchisee are members of the maternal family of Mr. Manan Mahajan, Promoter and Whole-time Director & CFO of the company. Neither the promoter, any promoter group entity nor any group company holds any partnership interest in the franchisee. The company states that the franchisee is not a 'related party' under Section 2(76) of the Companies Act, 2013 or Regulation 2(1)(zb) of the Listing Regulations, that the agreement is on Board-approved standard terms applicable to all franchisees, and that it is at arm's length.

Other points disclosed

• The company holds Nil shareholding in the franchisee and is not a partner in it.
• No shares are being issued to the parties under the agreement.
• No nominee director; the company states it has no financial exposure to the franchisee other than trade receivables arising in the ordinary course of supply.
• The agreement was executed substantially in the standard form approved by the Board of Directors at its meeting held on 22 September 2026, under which the Managing Director and the Whole-time Director & CFO were severally authorized to appoint franchisees and finalize franchise agreements.
• The franchisee has no right to appoint directors or to subscribe to shares; customary franchise covenants apply, including exclusive sourcing, brand-use restrictions, confidentiality and a 12-month post-term non-solicitation of plan customers.

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