Mini Diamonds India Ltd to invest in Sterling Silver Lab-Grown Diamond Jewellery and Jewellery Testing Industry

The Board of Directors of Mini Diamonds (India) Limited in their meeting held today, i.e., Thursday, June 27, 2024 approved the proposals:

1. To acquire 51% Partnership Interest of M/s Dazzling Concepts LLP from the existing designated partner.

2. To incorporate a subsidiary with 75% stake, in the name of 'Pyramid Gold Assaying & Hallmarking Centre Private Limited' or such other name as may be approved by Central Registration Centre (CRC), Ministry of Corporate Affairs, (MCA).

Dazzling Concepts LLP specializes in sterling silver lab-grown diamond jewellery, blending tradition with technology to create luxurious and ethical pieces. We believe that Lab-grown diamonds is expected to grow exponentially in the coming years to come.

The proposed company shall enter into the jewellery testing industry by establishing premier centers dedicated to the meticulous testing, hallmarking, and assaying of jewellery. The entity's state-of-the-art facilities will ensure the highest standards of quality and authenticity, providing consumers and businesses with unparalleled confidence in the integrity of their precious metal products. Through its commitment to precision and excellence, the proposed entity aims to become the gold standard in jewellery certification, enhancing trust and transparency in the market.

Shares of MINI DIAMONDS (INDIA) LTD. was last trading in BSE at Rs. 78.56 as compared to the previous close of Rs. 77.02. The total number of shares traded during the day was 57690 in over 36 trades.

The stock hit an intraday high of Rs. 78.56 and intraday low of 75.48. The net turnover during the day was Rs. 4452406.00.