AJC Jewel Manufacturers Ltd has greenlit the acquisition of its UAE-based group entity, AJC Jewel Manufacturers FZE, for a consideration capped at Rs 40 million. The move aims to boost its global footprint and strengthen operational synergies in the gems and jewelry sector.
The board of AJC Jewel Manufacturers Ltd, a leading designer and manufacturer of precious jewelry, has approved a proposal to acquire its promoter group subsidiary, AJC Jewel Manufacturers FZE, based in the UAE. Valued at a maximum of Rs 40 million, this transaction is part of the company’s strategy to tap international market opportunities and consolidate its global operations.
The acquisition signals AJC’s commitment to expanding revenues and integrating business lines across borders. AJC Jewel Manufacturers Ltd recently reported strong half-year results, with revenues of Rs 99 crore and robust profit growth, setting a solid foundation for this expansion initiative. The company’s management indicated that specific details of acquisition percentage, consideration, and payment structure will be finalized and disclosed after mutual agreement.
Investor activity has also picked up, with key stakeholders such as Amit Rajendra Prasad Agarwal recently increasing his holding in the company. Industry observers expect the acquisition to enhance AJC’s capacity to serve foreign markets, especially in high-value jewelry segments.
Key Highlights:
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Board approved acquisition of UAE-based AJC Jewel Manufacturers FZE, total deal value up to Rs 40 million
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Strategic goal: Strengthen global business and boost international revenue streams
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Specific percentage and payment mode to be disclosed upon final agreement
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Follows company’s strong half-year financial results and rising investor interest
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Expected to improve operational synergies and market reach in gems/jewelry sector
Sources: ScanX Trade, AJC Jewel Manufacturers Ltd investor filings, Bajaj Broking, MoneyWorks4Me