Lypsa Gems & Jewellery Limited was incorporated on 30th November, 1995 as Maloo Polymers Limited, and listed on Ahmedabad Stock Exchange in 1997. In 2008- 09 the Company was taken over by Mr. Dipan Patwa and Mr. Manish Janani. Subsequently the company name also was changed to Maloo Gems & Jewellery Ltd. on 12 January 2010 and further it got changed to Lypsa Gems & Jewellery Limited on 07 March, 2012. The Company is engaged in the business of trading, import, export, making and polishing activities of diamonds, gems and other precious stones.

In 2014, the company came out with a bonus issue in ratio of 1:2. It also launched e-Commerce B2B Platform called sorteddiamonds.com'

At present, the Company is in the process of increasing production capacity at its new factory in Navsari, Gujarat. It has acquired a Factory Building and Machineries at Chhapi, Gujarat to expand manufacturing activities to produce small sized diamonds at affordable cost. This is in line of generating maximum revenue from the manufacturing activities that allows higher value-addition than the trading activities.