Malabar Gold & Diamonds Plans Stock Market Debut Amid Expansion
Malabar Gold & Diamonds, a Kerala-based retailer, aims to enter the stock market by 2027-28. The company targets a 20% revenue increase this year despite rising gold prices and plans to open 90 new stores as part of its growth strategy. Legal preparations for listing are underway.
- Country:
- India
Kerala's renowned jewellery retailer, Malabar Gold & Diamonds, is gearing up for a significant leap into the stock market arena, with a targeted listing in the 2027-28 fiscal year, as disclosed by its founder and chairman, M P Ahmmad.
Despite the current challenge of escalating gold prices, the company is ambitiously aiming for a 20% revenue surge this year from its recorded Rs 62,000 crore in 2024-25. An integral part of this growth strategy includes opening 60 new stores across India and 30 international outlets.
Ahmmad confirmed ongoing legal efforts to prepare for the stock market debut, including the consolidation of subsidiaries and LLPs. Managing Director O Asher noted that innovative product design and diverse carat offerings are key strategies to retain customers amid price hikes.
(With inputs from agencies.)
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