Mini Diamonds India Ltd enters into MOU with Cupid Diamonds Pvt Ltd

Mini Diamonds (India) Limited ("MDIL") has entered into a Memorandum of Understanding (MOU) with Cupid Diamonds Private Limited, a Mumbai-based lab-grown diamond enterprise. Pursuant to this MOU, Cupid Diamonds Private Limited has agreed to provide MDIL with priority access to a regular monthly supply of lab-grown diamond rough aggregating approximately 30,000 to 40,000 carats, subject to mutually agreed commercial terms.

This priority supply arrangement is intended to support MDIL's expanding manufacturing operations and strengthen its supply chain for the production of lab-grown polished diamonds. The arrangement is expected to enhance raw material availability and improve capacity utilization, thereby supporting MDIL's ability to scale operations in a disciplined and predictable manner.

Shri Upendra N Shah, Chairman and Managing Director, Mini Diamonds (India) Limited, had to say the following with regards to this business update: "This priority supply arrangement strengthens our access to key raw materials and supports smoother execution of our lab-grown diamond manufacturing operations. It aligns with our ongoing efforts to build a stable and scalable supply chain as we grow our lab-grown diamond business."

Source : Equity Bulls

Keywords

MiniDiamondsIndia MOU CupidDiamonds LabGrownDiamonds