Sky Gold partners with CaratLane and PN Gadgil Jewellers, raises ₹270 crore for expansion
Alongside these new alliances, Sky Gold secured ₹270 crore in fresh capital from investors such as Motilal Oswal MF, Kotak Mahindra Life Insurance, and Bank of India MF.
The funds will support various initiatives: expanding the 18K gold and diamond product range, capital infusions into subsidiaries, growing its design and sales teams, and scaling operations into international markets like the Middle East, Singapore, and Malaysia.
The company is also exploring acquisitions to strengthen its market position.
In a separate development, Sky Gold on Saturday, October 26, said its board has approved the issue of bonus shares in the 9:1 ratio.
This means, that it will issue nine new bonus equity shares of ₹10 each for every one existing equity share of ₹10 each to the eligible shareholders as on the record date.
The company said it would inform the eligible shareholders of the record date in due course.
Sky Gold, which currently has a market capitalisation of over ₹5,000 crore, had previously issued bonus shares in the ratio of 1:1, meaning one free share for every one held, in 2022.
