Sky Gold touches roof on acquiring stakes in Starmangalsutra, Sparkling Chains
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Sky Gold is locked at is upper circuit limit of Rs. 1538.85, up by 73.25 points or 5.00% from its previous closing of Rs. 1465.60 on the BSE.
The scrip opened at Rs. 1537.00 and has touched a high and low of Rs. 1538.85 and Rs. 1537.00 respectively. So far 2454 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,538.85 on 24-Jun-2024 and a 52 week low of Rs. 250.25 on 11-Aug-2023.
Last one week high and low of the scrip stood at Rs. 1538.85 and Rs. 1265.85 respectively. The current market cap of the company is Rs. 2037.01 crore.
The promoters holding in the company stood at 61.32%, while Institutions and Non-Institutions held 0.04% and 38.64% respectively.
Sky Gold has acquired stake in Starmangalsutra and Sparkling Chains. These acquisitions present significant opportunities for Sky Gold to further enhance its market visibility and broaden its range of high-quality jewelry, renowned for expert craftsmanship. Starmangalsutra specializes in the manufacturing of traditional and modern Mangalsutra jewelry, while Sparkling Chains focuses on chain jewelry made from gold, silver, and other precious or base metals.
The company has acquired complete stake in Starmangalsutra and Sparkling Chains at a cost of Rs 23.98 crore and Rs 26.00 crore respectively. The consideration will be discharged by issue of 4,17,542 equity Equity Shares of the Company at an issue price of Rs 1,197 having a face value of Rs 10 each to the existing Shareholders of M/s Sparkling Chains and M/s Starmangalsutra on a preferential basis.
