OurBuzz
GJS Diwali Edition to be inaugurated by Maharastra Governor on 30 Sept. 2023

The Chairman, Vice Chairman, Committee of Administration& GJS Exhibition Committee of All India Gem & Jewellery Domestic Council (GJC) announced details of the opening of the GJS Diwali Edition.
The inauguration will take place on 30th September 2023 at 10.30am at Jio World Convention Centre, Mumbai.
The Chief Guest at the inaugural event is Shri Ramesh Bais, Honourable Governor of Maharashtra. The Guests of Honour are TS Kalyanaraman, CMD, Kalyan Jewellers and Joy Alukkas, Chairperson- Joy Alukkas
DiamondBuzz
Anglo American in touch with banks about a De Beers IPO

Anglo American is reportedly exploring an Initial Public Offering (IPO) for its diamond mining subsidiary, De Beers, as a potential alternative to a direct sale. This move aligns with Anglo’s broader strategic restructuring efforts, announced in May 2024, which focus on divesting less profitable assets and prioritizing its core operations in copper. The company has already executed agreements to sell its coal and nickel assets and is expected to offload its platinum operations later this year. However, progress on De Beers has been slow, prompting Anglo American to engage in preliminary discussions with banks about the feasibility of an IPO.
Background De Beers, a 136-year-old diamond mining company, has been a subsidiary of Anglo American for decades. However, due to declining profitability and shifting strategic priorities, Anglo American has decided to divest its stake in the diamond unit. CEO Duncan Wanblad has reiterated that the divestment of De Beers will be “substantively complete” by the end of 2024. The company is taking steps to ensure that De Beers operates as a fully independent entity, thereby minimizing any negative impact on Anglo American’s broader operations.
Strategic Rationale for the IPO
- Market Conditions: The diamond industry has faced challenges, including fluctuating demand, rising competition from lab-grown diamonds, and macroeconomic uncertainties affecting luxury goods markets. These factors may have deterred potential buyers, making an IPO a viable alternative for Anglo American.
- Maximizing Shareholder Value: An IPO could allow Anglo to extract value from De Beers through a public listing while potentially retaining a minority stake during an initial transition phase.
- Standalone Business Readiness: Anglo has already taken measures to position De Beers as an independent business entity, making it better suited for an IPO.
- Potential Investor Interest: Given De Beers’ global brand recognition and historical dominance in the diamond sector, the IPO could attract institutional and retail investors looking for exposure to the luxury commodities market.
Challenges and Risks
- Market Volatility: The global diamond market remains unpredictable, with price fluctuations and shifting consumer preferences.
- Investor Perception: De Beers’ recent financial performance, coupled with competition from synthetic diamonds, may impact investor sentiment.
- Execution Risks: Structuring the IPO, securing regulatory approvals, and ensuring a smooth transition to public markets could pose operational hurdles.
Conclusion Anglo American’s consideration of an IPO for De Beers reflects its commitment to restructuring its portfolio and focusing on high-growth sectors like copper. While a sale remains the preferred option, the IPO serves as a contingency plan to ensure De Beers’ divestment is completed within the stated timeline. The coming months will be crucial in determining the final outcome of this strategic shift, with market conditions, investor appetite, and execution feasibility playing key roles in Anglo American’s decision-making process.
DiamondBuzz
Botswana’s economic outlook negative due to diamond market pressures: S&P Global

S&P Global Ratings has revised Botswana’s economic outlook to negative from stable, citing external and fiscal pressures. The agency confirmed its ’BBB+/A-2’ long- and short-term sovereign credit ratings for the country. The decision reflects the challenges Botswana faces due to decreased global demand and prices for diamonds, which are pivotal to its fiscal revenues and exports.
Botswana’s economy is heavily reliant on diamonds. They account for around 80 per cent of its export earnings and a third of total budget revenues.
De Beers and the Botswana government finally reached agreement last month on the long-term mining and rough sales deals, but sales by their joint venture, Debswana, were down by 52 per cent for the first three quarters of 2024, and there a few signs of a sustained recovery in demand.
The agency projects that without a significant fiscal effort by the government or a substantial increase in diamond prices and sales volumes, Botswana’s fiscal consolidation efforts will remain challenging. It forecasts government debt, net of liquid assets, to rise to 19% of GDP by 2028 from 3% in 2024.
BrandBuzz
Celebrate Gudi Padwa with Exclusive Festive Collections and Unbeatable Offers with PNG Jewellers
The brand’s omnichannel campaign highlights new designs and exclusive offers in popular collections such as Polmi, Saptam, Pratha, Katha, and Enaa.

To usher in the Maharashtrian New Year with pomp and splendour, PNG Jewellers, Maharashtra’s most trusted corporate family jewellery brand, celebrates the occasion with stunning festive collections such as Polmi, Saptam, Pratha, Katha, and Enaa. From March 24 to April 30, 2025, the brand doubles up with attractive offers for its customers across all stores.
Gudi Padwa, which marks the beginning of the new year, is an auspicious time of new beginnings and prosperity. Keeping this spirit alive, PNG Jewellers’ latest campaign highlights attractive offers on an exquisite range of traditional and contemporary gold, diamond, platinum and silver jewellery, perfect for wedding shopping, festive gifting, personal indulgence, or starting new investments in gold.
At the heart of this campaign is the Polmi Collection – featuring Polki (uncut) diamonds designed with old-world craftsmanship for both elegant and chic looks. From statement necklaces to delicate bracelets, each piece is crafted to highlight the natural beauty of polki, offering a fresh perspective on this traditional jewellery. The collection draws inspiration from the jewellery of ancient queens, positioning it as a must-have for the modern woman who seeks to embrace her inner royalty. While exuding a royal aura, the Polmi Collection is designed to be within reach, allowing every woman to adorn herself with these timeless pieces without compromising on quality or elegance.

Sharing his excitement about market expectations, Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said, “Gold prices touching new highs have not deterred demand; instead, they have reaffirmed gold’s status as a timeless investment and cultural necessity. Consumers are adapting to these price shifts by exchanging old gold for new jewellery, ensuring liquidity while fulfilling their festive and wedding-related purchases. With Gudi Padwa marking an auspicious period for new beginnings, we see strong customer interest in traditional gold jewellery and studded collections. Additionally, the ongoing Maharashtrian wedding season is further driving demand, as many customers prefer to take delivery of their jewellery on such significant occasions. Since gold buying in India is deeply sentiment-driven rather than purely price-sensitive, we remain confident of a vibrant and prosperous Gudi Padwa season for the industry“
To make this Gudi Padwa truly memorable, PNG Jewellers is offering a 0% deduction on the old gold exchange, up to 30% off on gold jewellery-making charges, and up to 100% off on diamond jewellery-making charges.
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