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Gitanjali Gems gets shareholders’ nod to raise up to $250 million

07 Mar 2013 Evaluate

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.

Peers
Company Name CMP
Titan Co 4385.95
Kalyan Jewell.India 412.55
Rajesh Exports 120.00
Senco Gold 313.20
Thangamayil Jeweller 3965.15
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