Ramesh Damani Portfolio Stock: 5x FIIs Stake Jump in Multibagger Small-Cap; Marks India’s Largest Fundraise in Lab-Grown Diamond Retail

In August so far, Foreign Institutional Investors (FIIs) have been net sellers to the tune of ₹25,751.02 crore. Despite this heavy selling, there are select stocks where FIIs have significantly increased their stake. In this article, we focus on one such Small-Cap stock where FIIs have raised their holding by leaps and bounds.

The stock in focus is Goldiam International Limited, a leading diamond jewellery exporter and an emerging retail disruptor in lab-grown diamonds (LGDs). The company recently raised ₹202 crore through a Qualified Institutional Placement (QIP), attracting marquee investors such as Morgan Stanley Asia (Singapore) Pte., along with other FIIs like Saint Capital Fund. As a result, FII holding in the company has surged fivefold, rising from 0.87 per cent to 5.36 per cent, marking the highest level since December 2022.

Goldiam has announced that the proceeds from this fundraise will act as a growth catalyst for ORIGEM, its consumer-facing LGD jewellery brand in India. The company plans to accelerate the rollout of 70–90 stores across the country over the next 18–24 months. This fundraise is the largest of its kind in India’s lab-grown diamond retail space—almost double that of its nearest VC-funded competitors. ORIGEM has already launched six stores in the past ten months and has received encouraging customer response, validating Goldiam’s vision of building India’s leading LGD retail franchise.

Interestingly, one of India’s most prominent investors, Ramesh Damani, also features in Goldiam’s shareholding list. He holds a 1.02 per cent stake, translating into 11,55,633 shares of the company.

Goldiam also has a strong track record of rewarding its shareholders, having distributed nearly ₹200 crore through dividends and buybacks over the past five years.

On the business front, Goldiam’s export operations continue to deliver steady growth, backed by its expanding presence in new markets such as the Middle East, Israel, and Australia. Importantly, the business remains insulated from the recent U.S. tariff announcements on diamond jewellery, thanks to its ability to pre-manufacture raw gold castings in the U.S., ensuring stability. With margins upwards of 20% and a robust growth trajectory, the export division provides a high-margin, resilient base that supports the aggressive expansion of its B2C retail venture, ORIGEM.

From a performance standpoint, this small-cap stock has delivered multibagger returns of 181.37 per cent over the past two years and has gained 33.12 per cent in the last one year.

Disclaimer: The article is for informational purposes only and not investment advice.