Baanganga Gold & Diamond (I) Limited

Baanganga Gold & Diamond (I) Limited, incorporated in 2022, is an integrated gold and diamond jewellery manufacturer operating primarily under a business-to-business (B2B) model. The company manages various stages of the jewellery manufacturing process, including design, production, quality control and supply to organised jewellery retailers, wholesalers and distributors in India and overseas. Its product portfolio includes plain gold, studded gold and diamond jewellery, such as necklaces, bangles, rings, earrings, pendants, mangalsutras, bracelets and chains, mainly crafted in 18-karat and 22-karat gold for weddings, special occasions and everyday wear. As of July 31, 2026, the company offered more than 500,000 designs, supported by an in-house team of 91 designers and 402 karigars. Its business originated as a sole proprietorship in Mumbai and became a partnership firm in 1997, giving it nearly three decades of operating history. The company operates three manufacturing units, including facilities run by its subsidiaries MNM Jewels Private Limited and Baanganga Diamond Private Limited. As of the DRHP date, its manufacturing facilities covered more than 23,994 sq. ft., with a combined installed capacity of 7,500 kg annually. In FY2026, production stood at 3,629.42 kg, representing 48.39% capacity utilisation. Its customers include Joyalukkas India Limited, Novel Jewels Limited, Malabar Gold and Diamonds Limited, Kalyan Jewellers India Limited, Bhima Enterprises and P N Gadgil Jewellers Limited. Large corporate jewellery retail chains contributed more than 50% of revenue from operations in each of FY2024, FY2025 and FY2026. As of July 31, 2026, the company served 579 domestic clients across 18 states and four Union Territories, while exporting to seven countries—Australia, the UAE, Malaysia, Qatar, Singapore, the USA and Oman—and serving more than 25 international clients. Its sales network included 51 executives and branch offices in Pune and Chennai. As of July 31, 2026, the company had 743 employees.