Senco Gold Limited on Wednesday said its board has approved an investment of Rs 68 crore to acquire a 68% equity stake in August Jewellery Private Limited, the parent company of fast-fashion jewellery brand Melorra, making it a subsidiary of the company.
The acquisition will be executed through a primary equity infusion, with Senco Gold subscribing to fresh shares of August Jewellery Private Limited. Post-transaction, Senco Gold will hold 68% of the company’s equity share capital, the company said in a disclosure to the exchanges.
August Jewellery Private Limited, incorporated in 2015 and headquartered in Bengaluru, operates in the gems and jewellery segment and owns the Melorra brand.
The company is engaged in the manufacturing, designing, marketing and sale of gold, silver and gemstone jewellery, with a focus on lightweight, trend-driven designs targeted at younger consumers.
For the financial year ended March 31, 2025, August Jewellery reported a turnover of Rs 3,324.87 lakh. The company currently operates 21 stores across India and launches new jewellery designs on a weekly basis, drawing inspiration from global fashion trends and using advanced design technologies.
Senco Gold said the investment aligns with its long-term growth plans and is aimed at strengthening its digital and omnichannel presence, particularly in the fast-growing youth jewellery segment. The company said Melorra’s design-led and e-commerce capabilities complement its existing strengths.
The transaction will be funded entirely through cash consideration, the company added. The proceeds from the equity infusion will be used by August Jewellery for growth, expansion, and the repayment of existing liabilities, Senco said.
