As of 9:00 PM IST, Sunday 25 October 2026. Based on Senco Gold's stock exchange filing dated 25 October 2026, with background from CNBC-TV18 and ScanX. Indian markets are closed for the weekend, so the shares will first trade on the news on Monday. Turnover figures are converted from lakh to crore and rounded.
Jewellery retailer Senco Gold said on Sunday it had signed the agreements to take a 68% stake in August Jewellery Private Limited, the company behind the lightweight fashion jewellery brand Melorra, for ₹68 crore in cash. Senco's board first approved the deal in January. Sunday's filing moves it from approval to signed contracts, although completion still depends on conditions being met.
The deal at a glance
| Item | Detail |
|---|---|
| Target | August Jewellery Pvt Ltd (AJPL), brand "Melorra", based in Bengaluru, incorporated 16 January 2015 |
| Stake | 68% by Senco Gold; 79% in total including a promoter group entity |
| Price | ₹68 crore, in cash, invested in several tranches |
| Structure | Primary investment: AJPL issues new shares, and the money stays in the business |
| Use of funds | Growth and expansion, and paying off old liabilities |
| Documents signed | Share Subscription Agreement and Shareholders' Agreement, on 25 October 2026 |
| Expected completion | February 2027, subject to conditions and any change agreed by both sides |
| Approvals | No government or regulatory approval needed, according to the filing |
What Senco is buying
Melorra sells trend-led, lightweight jewellery and says it uses technology to launch new designs every week. It has 20 stores across India. According to the filing, Senco already manages Melorra's stores as its master franchisee. The deal therefore formalises a relationship that already exists on the ground.
A business that shrank and is recovering
| Financial year | AJPL turnover |
|---|---|
| 2023-24 | about ₹173.6 crore |
| 2024-25 | about ₹33.2 crore |
| 2025-26 | about ₹97.9 crore |
Melorra's sales fell by about 80% in 2024-25 and then roughly tripled in 2025-26. They are still well below their 2023-24 level. The filing does not explain the swings or give profit figures. The fact that new money will go partly towards "discharge of old liabilities" suggests the business needs capital to repair its balance sheet.
Why Senco wants it
In the filing, Senco says the investment supports its digital and omnichannel strategy and aims at the "fast-growing young consumer segment". It says Melorra's "robust design and e-commerce capabilities complement the Company's core competencies" and expects synergies and operational efficiencies.
Lightweight, everyday jewellery has become more important as high gold prices make heavy traditional pieces more expensive for many buyers. Lightweight designs let retailers offer gold jewellery at lower price points. HorizonDesk has not seen Senco put a revenue target on the Melorra business.
What changed since January
When Senco's board approved the deal on 21 January 2026, CNBC-TV18 reported that completion was expected by 30 April 2026 and that Melorra had 21 stores. The new filing gives February 2027 as the expected completion date and 20 stores. Senco has not publicly explained the delay.
Other details from the filing
- The deal is not a related-party transaction. Senco says none of its promoters or group companies has an interest in AJPL, except as a creditor.
- Once the deal is complete, AJPL will become a subsidiary of Senco Gold.
What to watch
- How Senco's shares react on Monday, when markets reopen.
- The size and timing of each payment tranche, and any further filings on the conditions being met.
- Whether Senco reports Melorra's numbers separately once it becomes a subsidiary.
Disclaimer: This article is for information only and is not investment advice or a recommendation to buy, sell or hold any security. HorizonDesk is not registered with SEBI as an investment adviser or research analyst. Please consult a SEBI-registered professional before making investment decisions.
Related reading on HorizonDesk
- Gold and silver prices in October 2026: analysis and outlook
- Gold above $4,000: why the metal is wobbling
- Dhanteras 2026: date, muhurat and gold buying tips
Sources
- Senco Gold: Regulation 30 filing, updates on acquisition of August Jewellery (25 Oct 2026, PDF)
- ScanX: Senco Gold executes SSA to acquire 68% stake in Melorra for ₹68 crore (25 Oct 2026)
- InvestyWise: Senco Gold acquires 68% stake in August Jewellery for ₹68 crore (25 Oct 2026)
- CNBC-TV18: Senco Gold board approves 68% stake in August Jewellery (21 Jan 2026)
