Senco Gold acquires 68% stake in August Jewellery for ₹68 crore

Jewellery retail chain Senco Gold Ltd on Wednesday (January 21) announced that its board of directors has approved the acquisition of a 68% stake in August Jewellery Private Ltd (AJPL), the company behind the fast-fashion jewellery brand Melorra.

The transaction will be executed through a Share Subscription Agreement (SSA), Shareholders’ Agreement (SHA), and related documents, with a total cash consideration of ₹68 crore. The acquisition is expected to be completed by April 30, 2026.

August Jewellery Private Ltd, incorporated on January 16, 2015, is engaged in manufacturing, designing, marketing, and selling gold, silver, precious and semi-precious jewellery, including light-weight fashion jewellery under the Melorra brand. The company operates 21 stores across India and focuses on trend-driven jewellery inspired by global runways, with weekly design updates leveraging advanced technology.

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The investment will reinforce Senco Gold’s digital and omnichannel strategy, targeting the young consumer segment and is aligned with its long-term growth plan. AJPL’s design and e-commerce capabilities are expected to complement Senco Gold’s core competencies, create operational efficiencies, enhance customer experience, and drive innovation.

The acquisition does not fall under related-party transactions, and none of the promoters or group companies of Senco Gold hold any interest in AJPL, apart from being creditors. The funds from the investment will be used for growth, expansion, and repayment of existing liabilities.

AJPL reported a turnover of ₹3,324.87 lakh for FY25, ₹17,362.71 lakh for FY24, and ₹60,547.18 lakh for FY23. Following the acquisition, AJPL will become a subsidiary of Senco Gold Limited. No governmental or regulatory approvals are required for the transaction.

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Shares of Senco Gold Ltd ended at ₹313.25, up by ₹1.24, or 3.85%, on the BSE.