Sky Gold raises Rs.270-Cr via QIP

Mumbai-based jewellery manufacturer Sky Gold Limited has raised INR 270 crore through a Qualified Institutional Placement (QIP) from major domestic institutional investors, including Motilal Oswal MF, Kotak Mahindra Life Insurance, and Bank of India MF.The new funds raised will be used for expanding its product portfolio, infusing capital into subsidiaries, strengthening organisational capacity, international expansion in the Middle East and Southeast Asia, and pursuing acquisition opportunities.Founded in 2008 by Mangesh Chauhan, Mahendra Chauhan, and Darshan Chauhan, Sky Gold , designs and manufactures gold and silver jewellery with specialisation in lightweight 22-carat gold jewellery and supplies to major retailers including Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers, with its products available in over 2,000 showrooms across India.