Editor’s Note
Mini Diamonds has announced a 1:5 stock split, pending shareholder approval. The move aims to boost share liquidity and broaden investor participation by making the stock more accessible.
The Board of Directors of Mini Diamonds has approved a 1:5 stock split, subject to shareholder approval via postal ballot. This move will subdivide each existing equity share with a face value of INR 10.00 into five shares with a face value of INR 2.00 each. The company aims to complete this corporate action within three months, pending necessary approvals.
The rationale behind this decision is to enhance the liquidity of the company’s shares and encourage greater participation from small investors by making the stock more affordable. Post-split, the company’s authorized share capital will remain unchanged at INR 30.00 crore, but will be divided into 15 crore shares of INR 2.00 each, up from the current 3 crore shares of INR 10.00 each.
Mini Diamonds has reported significant progress in its lab-grown diamond business. The company has been focusing on accelerating sales across both B2B and retail channels, integrating offline stores with a strong online presence.
Key highlights of the business update include:
– **E-commerce Launch**: The company launched NamraJewels.com, an e-commerce platform offering BIS hallmarked 14KT and IGI certified lab-grown diamond jewelry.
– **Major Export Order**: Secured a USD 2.15 million (approximately INR 18.30 crore) export order for lab-grown cut and polished diamonds from a Hong Kong client, to be executed within three months.
– **Middle East Expansion**: Received an order for 1,000 pieces of sterling silver lab-grown diamond jewelry from AV Palace DMCC in Dubai, strengthening its presence in the UAE market.
– **Design Portfolio Expansion**: Added 3,750 new styles across gold and sterling silver lab-grown diamond jewelry, broadening its product range.
– **Market Diversification**: Reported growing demand in India, UAE, Singapore, and the Far East, supported by strategic partnerships and market-specific initiatives.
Mini Diamonds is leveraging its vertically integrated model, from rough diamond processing to retail, to maintain control over quality and timelines. The company’s strategy focuses on:
– Expanding its design catalogue to address a wider range of aesthetics and price points
– Strengthening B2B partnerships while growing its direct-to-consumer reach
– Utilizing cutting-edge technology in its Mumbai manufacturing facility for diamond processing and jewelry manufacturing
Upendra N. Shah, Chairman and Managing Director of Mini Diamonds, commented on the business update.
As Mini Diamonds enters the second half of the fiscal year, it remains focused on executing current export commitments, scaling throughput under its supply program, and leveraging the festive season to widen its market reach. The company’s multi-pronged approach, combining technological innovation, market expansion, and strategic corporate actions, positions it for continued growth in the evolving lab-grown diamond industry.
