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Eight jewellery companies have listed on India’s main board this year. Many of them are the behind-the-scenes makers who supply to big brands like Malabar, Kalyan, and Senco. Investors have lapped them up. One issue was oversubscribed a hundred times. On paper, it’s easy to see why, because their profits are soaring.
But they have to pay for gold upfront and wait months for retailers to pay them. In the end, their bank credit is almost wiped out.
So most of what investors handed over is going into repaying loans and buying gold. In this edition of Long and Short from The Ken newsroom written by Debanjali Biswas and read aloud by Snigdha, we look at what exactly investors are buying into.
Tune in.
This episode was edited by Arnav Prakash.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
But they have to pay for gold upfront and wait months for retailers to pay them. In the end, their bank credit is almost wiped out.
So most of what investors handed over is going into repaying loans and buying gold. In this edition of Long and Short from The Ken newsroom written by Debanjali Biswas and read aloud by Snigdha, we look at what exactly investors are buying into.
Tune in.
This episode was edited by Arnav Prakash.
Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
Creators and Guests
What is Daybreak?
Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.
Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.