Senco Gold completes ₹68 crore buy of 68% in Melorra brand owner

The acquisition in numbers

What the agreements cover

Senco Gold executed the Share Subscription Agreement, Shareholders' Agreement and other transaction documents with AJPL and its existing shareholders on 25 Oct 2026, the company said in the filing. The deal follows a board-approved investment that the company first reported by letter dated 21 Jan 2026.

The acquisition is a primary investment: fresh equity shares will be issued, and the funds will be used for growth and expansion and for discharge of old liabilities of AJPL. The company says the investment reinforces its digital and omnichannel strategy aimed at the young consumer segment.

AJPL's business and turnover

AJPL was incorporated on 16 Jan 2015 with its registered office in Bangalore, Karnataka. It makes and sells gold, silver and stone jewellery, including fast-fashion lightweight pieces, under the Melorra brand, with 20 stores across India. Senco Gold currently manages those stores as Master Franchisee.

AJPL turnover was ₹97.93 crore in FY2025-26, ₹33.25 crore in FY2024-25 and ₹173.63 crore in FY2023-24. The filing gives no reason for the fall from FY2023-24 to FY2024-25 and the recovery in FY2025-26 that follows it.

What the acquisition means for Senco Gold's shareholders

The company puts the cash outlay at ₹68 crore for a 68% stake, and the stake rises to 79% once the promoter group entity's acquisition is counted. Senco Gold's market value is ₹5,068 crore at the 23 Oct 2026 close, and its Q1 FY27 net profit was ₹101.14 crore.

Not stated: the price per share, the number of new shares to be issued, the valuation basis, the liabilities to be discharged, and the conditions precedent. The next dated step is completion, indicatively in February 2027.

Reference: Original filing (PDF)