1 week ago
Joyalukkas Wins Tamil Nadu Gold Ring Tender With 1-Paisa Bid
Tamil Nadu has a scheme to give newborn babies a one-gram gold ring.
The babies must be born in government hospitals or primary health centres.
Joyalukkas won the contract by asking for only one paisa to make each ring.
Kalyan Jewellers also agreed to provide rings at the same price.
Joyalukkas will supply 70% of the first order, and Kalyan will supply 30%.
Together, they will initially provide 1,28,499 rings.
The government will pay for the gold used in the rings.
Joyalukkas said the contract is mainly a way to support the state and its communities.
Joyalukkas won Tamil Nadu’s ₹755 crore gold ring tender by quoting one paisa per ring in making charges.
The Thai Maman Thanga Mothiram Thittam will provide one-gram gold rings to babies born in government hospitals and primary health centres.
Kalyan Jewellers agreed to match Joyalukkas’s bid and received 30% of the work, while Joyalukkas received 70%.
The companies will initially supply 1,28,499 rings over four months, with the government paying for the gold.
The scheme is scheduled to launch on September 15 and covers eligible babies born on or after June 22.
- Who
- Joyalukkas and Kalyan Jewellers will supply the rings under a Tamil Nadu government scheme.
- What
- A tender was awarded for supplying one-gram gold rings to eligible babies.
- Where
- Government hospitals and primary health centres in Tamil Nadu.
- When
- The scheme is scheduled to launch on September 15; it covers babies born on or after June 22, and the initial supply spans four months.
- Why
- The rings are part of the Thai Maman Thanga Mothiram Thittam, a campaign promise later included in the state budget.
Key facts
- Reported tender value
- ₹755 crore
- Winning making-charge bid
- ₹0.01 per ring, quoted by Joyalukkas
- Second-lowest bidder
- GRT Jewellers India, at ₹410.97 per ring
- Initial quantity
- 1,28,499 rings
- Supply split
- Joyalukkas 70%; Kalyan Jewellers 30%
- Gold cost
- To be paid by the Tamil Nadu government
- Ring specification
- One gram of gold per ring
Quotes
Joyalukkas representative
Representative of Joyalukkas commenting on the tender
“We see this as an opportunity to create long-term value while leveraging our brand strength, retail experience, and established customer base.”
businesstoday.in
“It is our social commitment to the state since we have a lot of branches here, and this is our way of giving back.”
businesstoday.in
Sources
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