Mumbai (Maharastra) [India],October 23: Sky Gold Limited (BSE – 541967, NSE: SKYGOLD), one of the leading jewellery manufacturers based in Navi Mumbai, specializing in a diverse range of gold jewellery designs, including customized pieces, and catering to prominent retailers and jewellery brands across various market segments, has successfully raised ₹ 269.99 Cr through a Qualified Institutional Placement (QIP) from renowned funds.
The Company has allotted 9,99,259 equity shares of ₹ 10 each at price of ₹ 2,702 (a premium of ₹ 2,692) raising total of ₹ 269.99 Cr. Post this QIP, Company’s share capital stands increased from ₹ 13.65 Cr to ₹14.65 Cr comprising of 1,46,54,006 Equity Shares of ₹ 10 each.
In the recently concluded QIP, the following allottees were allocated a total of 129,535 equity shares, distributed among various leading institutional investors.
| Sr. No. | Name Of Allottees | Number of Equity Shares Allotted | Percentage of total Equity Shares allotted (%) |
| 1 | Motilal Oswal Small Cap Fund | 1,57,290 | 15.74 |
| 2 | Motilal Oswal Multi Cap Fund | 1,57,290 | 15.74 |
| 3 | Motilal Oswal Large Cap Fund | 74,019 | 7.41 |
| 4 | Motilal Oswal Business Cycle Fund | 74,019 | 7.41 |
| 5 | Motilal Oswals Manufacturing Fund | 37,009 | 3.70 |
| 6 | Kotak Mahindra Life Insurance Company Limited | 2,59,068 | 25.93 |
| 7 | Bank Of India Flexi Cap Fund | 77,720 | 7.78 |
| 8 | Bank Of India Business Cycle Fund | 33,309 | 3.33 |
| 9 | Copthall Mauritius Investment Limited ODI | 18,505 | 1.85 |
| 10 | Societe Generale – ODI | 37,010 | 3.70 |
| 11 | Susquehanna Pacific Pty Ltd | 29,608 | 2.96 |
| 12 | Bnp Paribas Financial Markets – ODI | 44,412 | 4.44 |
The QIP attracted substantial interest from reputable institutional investors, demonstrating their strong confidence in the company’s business model and growth potential.
The successful QIP marks a pivotal moment for the company, reflecting its commitment to growth and innovation in the jewellery industry. With the backing of prominent institutional investors and an enhanced capital structure, the company is well positioned to capitalize on emerging opportunities and continue its trajectory of success.
On successful completion of QIP placement, Mr. Mangesh Chauhan, Managing Director & CFO,
Sky Gold Limited said, “We are thrilled to see overwhelming response to our QIP and happy to have few marquee investors in our Company. This is a clear indication of their confidence in our growth strategy and optimistic business outlook. The fund raised to the tune of ₹ 270 Cr will empower us to strengthen our business and facilitate future expansions, enabling us to better meet the growing demands of our clients and adapt to emerging market trends.
Additionally, these funds will allow us to diversify our product offerings and cater to a broader customer base. We aim to enhance our design library, which currently features over 500,000 designs, by incorporating more localized options that resonate with the diverse tastes of our clientele. This strategic investment will position us to explore new segments and respond dynamically to market opportunities.”
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
