Sky Gold Secures ₹106 Crore Funding for Expansion Plans

Sky Gold, a prominent player in the business-to-business jewelry manufacturing and marketing sector, has successfully raised ₹106 crore as part of its strategic expansion plans. The funds were secured through the allotment of shares and warrants on a preferential basis, a move that underscores the company's commitment to growth and innovation.

The company's board of directors approved the allotment of 23,32,800 equity shares on a preferential basis, along with equity share warrants totaling 1,76,400 shares at ₹425 each. Notable investors participating in this funding round include Ashish Kacholia, Bengal Finance and Investments, Acron Consultants LLP, Narayana Trading and Investments, and Jinesh Shah.

Reflecting on the company's recent achievements, Mangesh Chauhan, the Managing Director of Sky Gold, expressed enthusiasm, stating that this year has been exceptional for the company, marked by the mainboard migration and significant investments from marquee investors. He emphasized that securing an additional ₹106 crore in capital is a crucial step for Sky Gold's growth trajectory, enabling the company to expand, drive innovation, and explore new market territories.

Established in 2008, Sky Gold specializes in the design, manufacturing, and marketing of gold jewelry, operating primarily under a business-to-business model. The company supplies its products to mid-range jewelers and boutique stores, which, in turn, retail these items through both online platforms and physical stores. Sky Gold's focus is on 22 Karat gold jewelry, offering a diverse range of designs to cater to the discerning tastes of the end consumer. With this latest funding infusion, Sky Gold is poised to further strengthen its position in the market and capitalize on emerging opportunities in the jewelry industry.

HBL