Tara Jewels, a Rajkkot-based jewellery exporter, is planning to raise Rs 200 crore through an initial public offering (IPO) and has filed draft red herring prospectus with Securities Exchange Board of India.
Enam Securities is the book running lead manager and Link Intime India is the registrar to the issue.
The company intends to utilize the issue proceeds to meet the expenses of establishing retail stores and repay or pre-pay loans.
Tara Jewels is engaged designing to retailing of jewellery. It exports the products to Australia, China, Canada, European Union, South Africa, UAE, UK and USA. In European Union it exports to 16 countries including Austria, Germany and Switzerland. The export income has grown to 99.95% of total income.
The company’s business is tri-furcated viz., manufacturing, exporting and retailing. Its portfolio of products includes gold, platinum, honeydium, and silver jewellery with or without studded precious and semiprecious stones.
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