India Gold Metaverse Limited (IGM) Unlisted Shares
Gold & Jewellery TechnologyISIN INE0TC001022NSDL and CDSL
India Gold Metaverse Limited (IGM) is a technology-led company building an integrated ecosystem for India’s gold, bullion and jewellery industry. Its platforms span bullion sourcing and trading, digital gold, jewellery discovery, gold purity assessment and industry education, connecting businesses, professionals and consumers across the precious-metals value chain.
About India Gold Metaverse Limited (IGM) Unlisted Shares
India Gold Metaverse Limited (IGM) is a technology-led company focused on building digital infrastructure and solutions for India’s gold, bullion and jewellery ecosystem. Incorporated in 2023 and headquartered in Mumbai, the company seeks to connect traditionally fragmented participants in the gold value chain through technology, digital platforms, data and specialised industry solutions.
The company operates through an ecosystem of platforms addressing different parts of the gold and jewellery market. BullionX is designed as a gold and silver sourcing and trading platform for traders, dealers and jewellers, combining pricing, execution, market intelligence and delivery capabilities. RamMudra focuses on digital gold, combining physical gold backing with technology-enabled transparency. Elanzia is an AI-led multi-brand jewellery platform designed to connect consumers with jewellers through digital discovery and technology-enabled shopping experiences.
IGM also operates GoldSense, a gold-purity assessment solution incorporating hardware and technology for testing gold, and IGM Academy, which provides learning and professional-development programmes for participants in the jewellery and precious-metals industry. Together, these businesses position IGM across both B2B and B2C segments of the gold economy rather than as a conventional jewellery retailer or bullion dealer alone.
The company is led by Managing Director & CEO Lamon Rutten. Its board includes Chairman Maheswar Sahu, Vice Chairman Joseph Massey, and directors Jeffrey Christian, D. S. Kolamkar and Rajan Mehta, bringing experience across commodities, financial markets, regulation, precious metals and asset management. Jignesh Shah is associated with IGM as Mentor & Coach.
The company was originally incorporated as Indian Gold Metaverse Private Limited, subsequently became India Gold Metaverse Private Limited, and was converted into a public limited company under its current name, India Gold Metaverse Limited.
IGM's financial profile reflects a relatively young operating business. Revenue from Operations was nil in FY2023-24 and FY2024-25, before commercial operating revenue of approximately ₹51.87 crore was reported for FY2025-26. The company remained loss-making during these periods as it invested in building its technology, products, operations and gold-industry ecosystem.
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