Malabar Gold eyes stock market listing in 2027-28; eyes 20% revenue jump

New Delhi: Kerala-based jewellery retailer Malabar Gold & Diamonds is preparing for a stock market debut, aiming to list the company in 2027-28, according to its founder and chairman M P Ahmmad.

Malabar Gold targets a 20 per cent jump in revenue in the current fiscal year, from Rs 62,000 crore recorded in 2024-25, despite a sharp rise in gold prices, Ahmmad said.

The retailer plans to open 60 new stores in India and 30 outlets abroad this year as part of its expansion strategy.

"We are 100 per cent thinking of listing our company on the stock market," Ahmmad told PTI, adding that legal preparations for the listing are underway.

The company needs to consolidate subsidiaries and Limited Liability Partnerships (LLPs) before proceeding with the initial public offering, with Ahmmad noting that "the legalisation for the stock market listing is taking time." "The work is in progress. We target to list in 2027-28 financial year," Ahmmad indicated.

Malabar Gold currently operates 391 showrooms across India and internationally, with presence in 19 Indian states.

To retain customers amid rising gold prices, the company is developing new business strategies, according to O Asher, Managing Director for India operations.

"We are coming out with different caratage and designing products without compromising the looks so that everyone can still afford gold jewellery," Asher said.

While higher prices have impacted sales volumes, the company is maintaining business levels by capturing greater market share, he added.