Sky Gold incorporates Sitaare Gold and Diamonds as wholly-owned subsidiary to expand jewelry business

Sky Gold Limited, a prominent player in the gold and jewelry industry, has announced the incorporation of a wholly-owned subsidiary, Sitaare Gold and Diamonds Limited, as per the Ministry of Corporate Affairs. The new entity was incorporated on January 22, 2025, with a subscribed capital of ₹10 lakh comprising 1,00,000 fully paid-up equity shares of ₹10 each.

Key Details About Sitaare Gold and Diamonds Limited:

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  • Industry Focus: The subsidiary will focus on wholesale and retail trading of gold, silver, precious stones, diamonds, and related ornaments.
  • Purpose: Sitaare is established to explore new business opportunities in the jewelry and precious metals sector, aligned with the core business of Sky Gold Limited.
  • Initial Status: As a newly incorporated entity, Sitaare has not yet commenced business operations.
  • Nature of Investment: Sky Gold has made a 100% cash subscription to the initial share capital, confirming complete ownership and control.

Strategic Impact:

Sky Gold Limited aims to leverage Sitaare Gold and Diamonds to strengthen its market presence, diversify its portfolio, and tap into new growth avenues within the jewelry and ornaments industry. With a focus on both wholesale and retail segments, the subsidiary is poised to enhance the company’s reach and operational capacity.