Jewellery Stock Gains Nearly 5%, Company To Acquire 80% Stake In UAE Business For Rs 9.6 Crore

On Friday, Indian equity benchmark indices traded higher, with the benchmark Nifty 50 index rose 61 points (0.26 per cent) to 23,934. Amid the market movement, AJC Jewel Manufacturers share price rose 4.98 per cent to Rs 211.85 after the company announced a proposed acquisition of an 80 per cent stake in its UAE-based jewellery manufacturing business for Rs 9.60 crore.

AJC Jewel Manufacturers Limited has taken a strategic step towards consolidating its international operations by approving the acquisition of an 80 per cent stake in AJC Jewel Manufacturers (FZC), Sharjah, UAE. The UAE entity operates in precious metal jewellery manufacturing and is expected to become a subsidiary of AJC Jewel Manufacturers after completion of the transaction.

UAE Business Reports Strong Revenue Growth

The proposed acquisition will give AJC Jewel Manufacturers majority ownership of its UAE operations. AJC Jewel Manufacturers (FZC), incorporated in Sharjah on May 15, 2024, is engaged in precious metal jewellery manufacturing.

The UAE entity reported revenue of Rs 53.82 crore in CY2024, which increased to Rs 127.95 crore in CY2025. This represents a year-on-year growth of approximately 138 per cent. During January-June 2026, the company recorded revenue of Rs 72.46 crore.

The acquisition will enable AJC Jewel Manufacturers to move from having an international operating presence to gaining majority ownership and greater control over the UAE jewellery manufacturing business.

Rs 9.6 Crore Deal To Be Completed Through Share Swap

The transaction will be executed entirely through a non-cash share swap arrangement. The maximum purchase consideration of Rs 9.59 crore for acquiring 80 per cent stake in AJC Jewel Manufacturers (FZC) will be settled through the issue of up to 5,67,492 equity shares of AJC Jewel Manufacturers at an issue price of Rs 169.16 per share.

The proposed preferential issue will account for approximately 8.55 per cent of the company’s post-issue equity share capital. Following the proposed allotment, promoter and promoter-group shareholding is expected to increase from 56.33 per cent to 59.85 per cent.

The transaction is subject to shareholder and regulatory approvals. The company expects the acquisition process to be completed within approximately three to six months after receiving the required approvals.

Building India-UAE Jewellery Manufacturing Platform

The UAE acquisition aligns with AJC Jewel Manufacturers’ strategy of expanding its jewellery manufacturing platform across domestic and international markets. The company manufactures 22K and 18K gold jewellery for retail chains, corporates and independent jewellers across India and international markets.

AJC operates a 21,780 sq. ft. manufacturing facility in Malappuram, Kerala, with capabilities across traditional casting, studded jewellery, bespoke orders and CNC-machined jewellery. The company also operates a digital-first B2B ecosystem with a library of more than 5,000 jewellery designs.

The consolidation of the UAE business is expected to provide AJC with a stronger platform to integrate its Indian manufacturing capabilities with international customers and distribution opportunities.

About the Company:

AJC Jewel Manufacturers Limited is an integrated jewellery manufacturer engaged in producing 22K and 18K gold jewellery products. The company caters to retail chains, corporates and independent jewellers across India and international markets. Its operations include traditional casting, studded jewellery, bespoke jewellery and CNC-based manufacturing solutions.
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Disclaimer: The article is for informational purposes only and not investment advice.