Gitanjali Gems has received an approval to raise funds up to Rs 175 crore by issue of Convertible Warrants to persons other than Promoters by way of preferential allotment in accordance with provisions of Companies Act, 2013 and the Securities and Exchange Board of India and other applicable statutory provisions. The board of directors at its meeting held on August 01, 2014 has approved for the same.
Gitanjali Group is a 52-year-old company having stores outside the country including USA. It is only in the last few years that it is concentrating on retail markets to boost revenue. Gitanjali Jewels owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta.
