SKYGOLD to Acquire Ganna N Gold, Divest Sitaare & Issue Shares

Source |08:48 26 Apr 25

mergers & acquisitions corporate actions fundraising

SKYGOLD board approved acquisition of 100% stake in M/s Ganna N Gold Private Limited via share swap.
To issue up to 61,20,000 equity shares at ₹369 per share (including ₹359 premium) to Ganna N Gold shareholders.
Issue price set as per SEBI (ICDR) norms; may be revised by board/authorities.
Acquisition cost approx. ₹225 crore.
Ganna N Gold's turnover approx. ₹85 crore (FY25), specializing in bangle manufacturing and job work.
Acquisition aims to broaden market reach, product range, and boost operational efficiency.
Acquisition completion target within 15 days post shareholder nod.
Board sanctioned disinvestment of 100% equity in wholly-owned subsidiary Sitaare Gold and Diamonds Limited.
Sitaare is yet to commence operations, with a paid-up capital of ₹10 lakh.
Sitaare sale at face value, completion expected by 25 April 2025.

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