Senco Gold signs share subscription agreement for 68% of Melorra at ₹68 crore

Senco Gold and Diamonds will acquire 68% of August Jewellery Private Limited, the digital-first lightweight jewellery brand known as Melorra, for ₹68 crore in cash tranches, under a Share Subscription Agreement executed on October 25, 2026. ScanX reported the agreement.

Senco Gold and Diamonds is a publicly listed Indian jewellery retailer operating 201 owned showrooms across 17 states and Dubai, selling BIS Hallmarked gold, diamond and platinum jewellery through stores, e-commerce and digital gold and silver investment platforms. Melorra is a fast fashion lightweight jewellery brand that uses technology to launch fresh designs weekly and has a presence in 20 stores across India.

Senco Gold's Share Subscription Agreement With Melorra

The transaction is a primary investment in which fresh equity shares will be issued, and the consideration is entirely in cash, to be invested in multiple tranches. Completion is subject to conditions precedent set out in the Shareholders' Agreement and other related documents. After the acquisition, August Jewellery Private Limited will become a subsidiary of Senco Gold.

Senco Gold currently manages Melorra's stores as its Master Franchisee. The company said the acquisition aligns with its long-term growth strategy and targets the fast-growing young consumer segment through digital and omnichannel capabilities. The integration is expected to create synergies and drive operational efficiencies. No governmental or regulatory approvals are required for the acquisition, and the deal does not fall under Related Party Transactions. None of the promoter group companies hold an interest in August Jewellery Private Limited, except as creditors.

Melorra's Turnover and Senco Gold's Scale

Senco Gold acquired Melorra in January 2025, extending the company into the online-native direct-to-consumer segment and complementing its Everlite everyday-wear line, according to akta.pro company records. The same records list Senco Gold's highest-ever annual topline of ₹8,430 crore for FY26, 33% year-on-year growth, and annual profit after tax of ₹574 crore for FY26, a 260.50% year-on-year surge.

Melorra's turnover moved from ₹17,362.71 lakh in FY24 to ₹3,324.87 lakh in FY25 and then to ₹9,792.91 lakh in FY26, the report stated.

Senco Gold's Recent Leadership and Brand Moves

Senco Gold appointed Shashi Bhushan Singh as Chief General Manager for Sales and Business Development on October 12, 2026, effective immediately, ScanX reported. Fortune India reported that Senco Gold, a Kolkata-based jewellery firm, launched Sennes, its first lab-grown diamond brand, alongside leather bags and fragrances, on September 27, 2026.

Senco Gold re-appointed Bhaskar Sen as Non-Executive Independent Director for one year, effective September 18, 2026, to September 17, 2027, ScanX reported on September 17, 2026.

Melorra Deal Completion Timeline

The indicative time period for completion of the acquisition is February 2027, subject to mutual agreement between the parties.