Sky Gold & Diamonds has acquired 100 per cent of Purvi Gems & Jewellery (India) for Rs 9 crore in an all-cash transaction, expanding its presence in lightweight uncut and precia jewellery and the studded jewellery segment.
The acquisition, completed on October 7, represents 1.5 times Purvi Gems’ book value as of March 31, 2026. Sky Gold said the transaction is not a related-party transaction and that the existing management of Purvi Gems will continue to oversee the business.
Purvi Gems specialises in lightweight, uncut and precia jewellery, with demand across South India and export markets. Sky Gold expects the acquisition to add around 100 kg of potential monthly sales capacity and strengthen its exposure to higher-margin studded jewellery and export markets, particularly the Middle East.
The company said the acquisition is expected to provide access to a business that could generate Rs 1,600-1,800 crore in annual revenue over the next two to three years. It also expects opportunities for cross-selling Purvi Gems’ products through its existing customer network.
The acquisition is part of Sky Gold’s strategy of expanding through targeted acquisitions in value-added jewellery segments. Previous acquisitions include Sparkling Chains, Starmangalsutra, Speed Bangles and Shri Rishabh Gold, which the company said have contributed to growth in revenue and profitability following their integration.
