Moksh Ornaments Unveils Rs 49 Crore Rights Issue to Expand Global Reach

Gold jewellery manufacturer Moksh Ornaments plans a Rs 49 crore rights issue to expand globally. The offer opens on December 30 and closes on January 10, 2025, offering shares to current shareholders. Moksh aims to boost its presence in international markets, including forming a UAE subsidiary.

Mumbai's renowned gold jewellery manufacturer, Moksh Ornaments, has unveiled its plans to raise a substantial Rs 49 crore through a rights issue set to launch on December 30.

The offering will remain open until January 10, 2025, with a total of 3.26 crore shares available at Rs 15 each, offered in a 14:23 ratio to existing shareholders. This move is managed by lead manager Kunvarji Finstock and registrar Bigshare Services.

Managing Director Amrit J Shah expressed the company's goals to strengthen its international market presence and establish a subsidiary in the UAE. The capital raised will meet working capital needs and support corporate growth. Notably, the company reported a 25.17% revenue increase, reaching Rs 158.45 crore.

(With inputs from agencies.)