jewelery manufacturer sky goldSuccessfully picked up on Tuesday ₹270 crore through Qualified Institutional Placement (QIP) from renowned funds.
The company has allotted 9,99,259 equity shares at face value Each at a price of 10 Rs 2,702 (including premium) 2,692), in total 269.99 crores. The share capital of the company has increased after this QIP. From Rs 13.65 crore 14.65 crore, which now includes 1,46,54,006 equity shares having face value 10 each.
Participants in the QIP included Motilal Oswal Small Cap Fund, Kotak Mahindra Life Insurance, Bank of India Flexi Cap, Bank of India Business Cycle Fund.
The company said the QIP attracted considerable interest from reputable institutional investors, reflecting their strong confidence in the company’s business model and growth potential.
Sky Gold CEO on QIP
“We are thrilled to see the tremendous response to our QIP and are delighted to have some major investors in our company. This is a clear indication of their confidence in our growth strategy and optimistic business outlook. raised funds amounting to The Rs 270 crore will empower us to strengthen our business and facilitate future expansion, enabling us to better meet the growing demands of our customers and adapt to emerging market trends,” the Managing Director And CFO Mangesh Chauhan said, sky gold Limited.
Chauhan further added, “Additionally, these funds will allow us to diversify our product offering and cater to a broader customer base. Our goal is to grow our design library, which currently includes over 500,000 designs, to include more localized options that match the diverse tastes of our customers. This strategic investment will enable us to explore new segments and respond dynamically to market opportunities.”
In the recently concluded QIP, a total of 129,535 equity shares were allotted to the following allottees, distributed among various leading institutional investors.
Established in 2008, sky gold Specializing in designing, manufacturing and marketing of gold jewellery. The company operates on a B2B model, primarily providing its products to mid-range jewelers and boutique shops, who then sell them both online and through physical stores.
It specializes in 22-karat gold jewellery, offering a wide range of designs crafted to meet the sophisticated preferences of its customers.
