Sky Gold board approves Rs 270 crore fundraise via QIP

In December 2023, the company transitioned to a significantly larger facility located in Navi Mumbai, boasting a production capacity of 750 kg per month/year.

Moneycontrol News

September 02, 2024 / 14:33 IST

The stock gained an intraday high of 2660 per share on the NSE, rising 2.04 percent.

26 Aug, 2025 12:21

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Sky Gold board on September 2 has approved a fundraise of up to Rs 270 crore through a Qualified Institutions Placement (QIP).

The manufacturer of lightweight jewellery informed the shareholders through an exchange filing "the Board at its meeting held on 9th August 2024 and Extra-ordinary General Meeting held on 2nd September 2024, has considered and approved the raising of additional capital by way of one or more public or private offerings including through a Qualified Institutions Placement (‘QIP’) of Equity Shares or other eligible securities to eligible investors for an amount not exceeding Rs 270 Crore."

The stock gained an intraday high of 2660 per share on the NSE, rising 2.04 percent. At the time of publishing, the counter quoted at Rs 2,610 apiece on the NSE, up marginally 0.12 percent.

"In December 2023, the company transitioned to a significantly larger facility located in Navi Mumbai, boasting a production capacity of 750 kg per month/year. This move has been instrumental in driving substantial growth," PTI quoted Sky Gold Managing Director and CFO Mangesh Chauhan in an earlier report.

Moneycontrol earlier reported that apart from the domestic market, SGL is also tapping consumers in the export market, such as Dubai, Malaysia as well as the United States. A lot of Indian jewellery chains, such as Kalyan Jewellers and Malabar Gold & Diamonds (existing customers of SGL), have a good overseas presence and that would enable SGL to grow the export business.