Gitanjali Gems has received shareholders’ nod to raise up to $250 million via various ways including foreign currency convertible bonds and qualified institutional placement. The company has received the approval through postal ballot process for its special resolution.
Gitanjali Group is a 52-year-old entity 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 has a presence in more than 60 cities across India with 90 stores.
