Mumbai (Maharashtra) [India], February 25: UtssavCZ Gold Jewels Limited (Utssav, The Company), (NSE Code: UTSSAV)one of the leading manufacturers of 18K, 20K, and 22K CZ gold, plain gold, gold & diamond jewelleryhas received approval from its Board of Directorsforincorporationof a wholly-owned subsidiary in the United Arab Emirates, with full ownership and control. The initial capital will be infused through cash consideration to expand its core jewellery business internationally.
Theproposedincorporation of the subsidiary in Dubaiwill providethe Company with a strategic presence in a globally recognized gold and diamond trading hub. This movewill enablethe Company to directly showcase its jewellery collections to international customers and strengthens its participation in overseas markets through a structured on-ground presence.
This strategic expansion is expected to support geographic revenue diversification, strengthen global brand positioning, and enhance access to international trade networks. The subsidiary will facilitate stronger distribution linkages, improved export coordination, and sustained international market penetration, thereby contributing to scalable growth and long-term value creation for the Company.
Commenting on the development, Mr. Pankajkumar Jagawat, Managing Director of UtssavCZ Gold Jewels Limited, said, “We are pleased to announce that the Company has received approval from its Board of Directors for the incorporation of our wholly-owned subsidiary in the United Arab Emirates, marking a significant step in our global expansion journey. The proposed establishment of our presence in Dubai, a key international gold and diamond trading hub, aligns with our long-term vision of strengthening our international footprint and expanding our access to global markets.
We believe this initiativewill providea strong platform to showcase our premium jewellery collections to a wider international audience, enhance brand visibility, and deepen engagement with overseas customers. We remain committed to building a robust global distribution network and leveraging international trade opportunities to drive sustainable growth and create long-term value for our stakeholders.”
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
