Bulk Deal: Vikasa India EIF I Fund-Incube Global Opportunities picks up stake in SM Gold

Vikasa India EIF I Fund-Incube Global Opportunities has informed that it has picked a significant stake in SM Gold on Friday. The bulk deal data from the bourses showed that the global fund bought 51,000 equity shares of the BSE listed jewellery company at an average price of Rs 40.15 apiece, according to the bulk deal data from the exchange. The transaction is valued at about Rs 20.5 lakhs.

SM Gold is engaged in manufacturing of traditional and skilled handmade jewellery.

"SM Gold has in-house designing team which designs the mangalsutra and other jewellery`s in traditional, modern and indo-western style. The company's principal business is manufacturing and trading of mangalsutra jewellery," an official statement said.

"Other than this, the company is also engaged in designing of other jewellery items including rings, chain, earrings, nose-rings, nose pints, anklets, toe rings, pendants, bangles, bracelets and more wedding and festive occasions," the statement added.