Sky Gold & Diamonds has completed the ₹9 crore all-cash acquisition of Purvi Gems & Jewellery (India), buying 100% of the company's equity, the listed jewellery manufacturer confirmed on October 7, 2026.
The consideration works out to 1.5x Purvi Gems' book value as of March 31, 2026. Sky Gold said the transaction is not a related-party transaction — neither its promoters nor the promoter group have any interest in the target — and Purvi Gems' existing management will continue to run the business.
Purvi Gems specialises in lightweight, uncut and precia jewellery with demand across South India and export markets. For Sky Gold, the deal means immediate entry into higher-margin studded jewellery and a stronger export footprint, particularly in the Middle East.
Management expects the acquisition to add roughly 100 kg of potential monthly sales capacity and cross-selling opportunities across Sky Gold's customer network. The company projects the acquired business could generate ₹1,600–1,800 crore in annual revenue over the next two to three years — a company expectation dependent on execution, customer retention and market demand.
The Purvi Gems buyout continues Sky Gold's stated acquisition-led strategy: earlier targets Sparkling Chains, Starmangalsutra, Speed Bangles and Shri Rishabh Gold have, by the company's account, contributed to revenue and profitability growth post-integration.
Why it matters for founders
Bolton-on M&A is becoming a repeatable playbook for profitable SMEs: Sky Gold's fifth bolt-on targets a higher-margin segment rather than raw scale. If your startup has a differentiated product line and steady cash flows, strategic acquirers are actively buying — clean governance (arm's-length deal, incumbent management retained) is what makes the transaction smooth.