Sagar Diamonds Ltd Company Summary

Sagar Diamonds Ltd Summary

Sagar Diamonds Limited was originally incorporated as Private Limited Company with the name Sagar Diamonds Private Limited on July 15, 2015 at Surat, Gujarat. Later on, Company name was changed to Sagar Diamonds Limited on July 04, 2017. Sagar Gems, a Proprietory concern was started by Mr. Vaibhav D. Shah. He worked in a local diamond shop where he learned the basics of diamond. Till then, Sagar Gems has established itself in the industry over the time. It deals in rough and polished diamonds, which are procured from, trusted and certified suppliers and provided to recognized buyers. It also carries out manufacturing by procuring rough diamonds, which are then processed by trained and qualified workers on job work basis. The manufacturing activity is carried out at factory unit located in Sachin (S.E.Z), Gujarat. The Company specialize in rings, earrings & necklaces, which are carefully handcrafted by skilled artisans.The Company presently engaged in manufacturing and exporting of rough and polished diamonds procured from the trusted and certified suppliers and in jewelry making. The Company involved in trading of diamond and processing by trained and qualified workers on job work basis. Its product includes rings, chain, mangalsutra, earrings and necklaces, which are carefully handcrafted by skilled artisans. The Company came up with a Public Issue of 33,81,000 Equity Shares on 26th September, 2017. In 2018, the Company purchased business of M/s Sagar Gems through the Business Transfer Agreement executed between the Company and Mr. Vaibhav Dipak Shah, Proprietor of M/s Sagar Gems & 59,21,860 equity shares having face value of Rs. 10/- at Par each allotted for consideration other than cash to Mr. Vaibhav Dipak Shah, Proprietor of M/s Sagar Gems, upon acquisition of the said Proprietorship Firm by executing the Business Transfer Agreement. In F.Y 2019-20, Company exported Diamonds and Jewellery to Hong Kong.