Foreign fund house Credit Suisse has reportedly sold 2.14% of its stake in Gitanjali Gems for an estimated Rs 11.87 crore. Credit Suisse has sold 19.75 lakh shares of Gitanjali Gems at an average price of Rs 60.10 to Venus Capital Management.
Gitanjali Group is a 52-year-old company 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 Jewels owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta.
