Diamond jewellery company Nakshatra World, promoted by Gitanjali Gems has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The public offer will comprise a fresh issue of 18 million shares to raise up to Rs 400 crore ($60 million). The company’s shares are proposed to be listed on the BSE and NSE.
The company, which filed the draft red herring prospectus with the SEBI in March, got the regulator’s approval on June 9. The net proceeds from the issue will be utilised towards funding working capital requirements and other general corporate purposes. The book running lead manager to the issue are IDBI Capital Markets & Securities and Elara Capital (India).
The company is one of the most iconic diamond jewellery brands in India and offers a unique range of diamond jewellery evocative of mysterious brilliance and divine luck.
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Titan Co | 3339.55 |
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Rajesh Exports | 300.00 |
Sagar Diamonds | 29.45 |
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