Gitanjali launches India’s second gold and diamond ATM at Mumbai

Gitanjali Gems Ltd. | Diamond & Jewellery | Consumer Durables | BSE: 532715 | NSE: GITANJALI

25 Apr 2012 Evaluate

Gitanjali Gems group company - Gitanjali Group has joined hands with the Siddhivinayak Trust to launch the Gitanjali Jewellery Vending Machine (GJVM) at Mumbai’s most popular and significant temple for Lord Ganesha - Shree Siddhivinayak temple. The new GJVM by Gitanjali Group, which is a gold and diamond ATM, gives Shree Siddhivinayak worshippers an opportunity to celebrate this momentous occasion with Gold Coins, Bars and jewellery.

This collaboration between Gitanjali Group and Siddhivinayak Trust introduces this unique and convenient retail format for worshippers which is ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser.

The GJVM is an automated disbursal mechanism to fulfill the jewellery needs of the customer anytime, anywhere. It dispenses various designs and denominations of Gold & Diamond jewellery and Gold & Silver coins/bars to customers with just a few touches. It stores between 300- 400 products when fully stocked in up to 18 different designs and denominations.

The image, details and price are displayed in an attractive manner via a touch-screen using which a customer may browse through the various options and select the product they wish to buy. Post selection, customer may decide to pay by cash, card or net banking options. Once full payment is made, the machine automatically dispenses the chosen product along with certificate of authenticity and receipt for the same.

The self-vending machine allows a low-cost and convenient way to make products available to jewellery buyers in locations where space is scarce and traffic is heavy. The state-of-the-art security features like a best in the world video surveillance system, code protected access and compartmentalized design ensures that the kiosk operates with minimum risk even in exposed environs.

Gitanjali Gems Share Price

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Peers

Company Name	CMP
Titan Co	4358.25
Kalyan Jewell.India	415.50
Rajesh Exports	120.70
Senco Gold	344.65
Thangamayil Jeweller	4080.55
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