Jewellery manufacturer completes acquisition of Purvi Gems & Jewellery for ₹9 crores in cash

Sky Gold & Diamonds has completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Pvt Ltd.

Wed 7 Oct 2026

Cash Consideration

₹9 crores

Valuation Multiple

1.5x book value as on 31st March 2026

Expected Annual Revenue

over ₹1,600-1,800 crore in two to three years

Sky Gold & Diamonds has completed the acquisition of 100% equity shares of Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. The company said the acquisition was completed on October 7, 2026.

Deal terms

• Cash consideration of ₹9 crores.
• The company says this works out to 1.5x of Purvi Gems' book value as on 31st March 2026.
• The transaction does not constitute a related-party transaction, and neither the promoter nor the promoter group of Sky Gold has any interest in Purvi Gems.
• Purvi Gems' existing management will continue to oversee the business going forward.

What the company expects from it

• Immediate entry into the fast-growing lightweight uncut and precia jewellery segment, expanding Sky Gold's addressable market.
• Higher exposure to the higher-margin studded jewellery category, supporting product mix and profitability.
• Potential of ~100 kg of monthly sales.
• Cross-selling opportunities across Sky Gold's customer network and a stronger export opportunity, particularly in the Middle East.
• The business is expected to generate over ₹1,600-1,800 crore of annual revenue over the next two to three years, along with established customer relationships, specialised manufacturing capabilities and an experienced team.

Track record shown by the company

• Sparkling Chains Pvt. Ltd.: turnover of ₹201 crore as on 31st March 2024 and ₹760 crore as on 31st March 2026, as per the company's table.
• The same table also lists Starmangalsutra Pvt. Ltd., Speed Bangle Pvt. Ltd. (acquired in August 2025) and Shri Rishab Gold (acquired in December 2025), which the company says broadened its product portfolio and customer base.

Management view

• Managing Director Mr. Mangesh Chauhan said strategic acquisitions have been an important driver of Sky Gold's growth and value creation, and that Purvi Gems brings complementary capabilities in lightweight uncut and studded jewellery, an established customer base and a skilled team.
• Mr. Jigar Mehta, Director of Purvi Gems & Jewellery (India) Pvt. Ltd., said the business has built a strong reputation in lightweight, uncut and precia jewellery, and that Sky Gold's scale, manufacturing capabilities and customer network provide a platform for its next phase of growth.

About the company

• Sky Gold & Diamonds manufactures gold jewellery and is listed on both BSE and NSE.
• Its facility in Navi Mumbai is capable of processing 14.4 tonne of gold per year, and it serves jewellery brands, wholesalers, distributors and retailers in domestic and international markets.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.