Nidhi Granites Acquires 50.50% Jowela Exim Stake For ₹1.6 Crore

Board approved Rs1.6 Cr for 16,00,000 Rs10 shares in Jowela Exim rights issue; 50.5% stake, Jowela becomes subsidiary by Oct-end. Jowela in jewellery/precious metals with FY26 turnover 744 Cr. First entry into jewellery/precious metals, unrelated to paper and fintech. Scale dwarfs existing business despite tiny consideration; extends M&A-led diversification beyond payments. Control at face value for high-turnover target raises valuation questions; profitability and funding undisclosed. Watch consolidation and integration risk; completion by Oct-end on allotment.