Joyalukkas bags a golden TN Govt order to gift rings to 4.41 Lakh Newborns
The Kerala jeweler pipped others for the ₹755 crore order by bidding on a razor-thin margin
Joyalukkas, a Kerala-based jewellery retail giant, has secured a significant government order from Tamil Nadu, to provide 4.41 lakh gold rings to newborns delivered in government hospitals across the state. The order, part of the Tamil Nadu government’s ₹755 crore welfare initiative Thai Maman Thanga Mothiram Thittam, is the lowest bid, placing Joyalukkas ahead of regional rivals like Vummidi Bangaru and GRT.
The orders will be supplied from June 22 to the end of the current financial year, with the gold rings priced at the prevailing market rate, with Joyalukkas charging a symbolic service fee of just 1 paisa above the gold rate. CEO of Joyalukkas, Joy Alukkas, highlighted that the company sees this as an opportunity to create long-term value and leverage their brand strength, retail experience, and established customer base.
The contract could also provide significant brand visibility to the company among Tamil Nadu families.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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