Mumbai, October 20 (Udaipur Kiran): Shares of Sky Gold and Diamonds Ltd soared over 7% in Monday’s trade after the company announced that its wholly owned subsidiary, Starmangalsutra, has entered into a non-binding term sheet to acquire a majority stake in Rishab Gold, a well-known Mumbai-based jewellery firm.
The stock is currently trading at ₹357.45, up ₹23.40 or 7.00%, from its previous close of ₹334.05 on the BSE. It opened at ₹328.30 and touched an intraday high and low of ₹357.45 and ₹328.30, respectively, with 1,02,780 shares changing hands so far.
The BSE Group ‘B’ stock, with a face value of ₹10, commands a market capitalization of ₹5,515.48 crore. Over the last 52 weeks, the scrip has hit a high of ₹488.95 (on December 17, 2024) and a low of ₹245.95 (on August 6, 2025). During the past week, it traded between ₹357.45 and ₹308.50.
Promoters hold 51.74% of the company’s equity, while institutions and non-institutional investors hold 9.57% and 38.69%, respectively.
The acquisition marks a major step in Sky Gold’s strategy to build India’s largest and most trusted mangalsutra-focused jewellery enterprise. Rishab Gold, which has a strong presence in the mangalsutra segment, serves a rich client base that includes one of India’s largest jewellery brands. This key client relationship will now be strategically onboarded by Starmangalsutra, helping expand its customer network and strengthen its presence in the traditional jewellery market.
The move will also integrate Rishab Gold’s operations into Starmangalsutra’s robust governance structure and efficient working capital framework, driving synergies across product development, manufacturing, and distribution.
Formerly known as Sky Gold Ltd, the company has been engaged in designing, manufacturing, and marketing gold jewellery since its inception, with a growing footprint across India’s premium jewellery segment.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
Sky Gold and Diamonds Surges 7% as Subsidiary to Acquire Majority Stake in Shri Rishab Gold
