Nakshatra World planning an IPO of around Rs.650 Crores - Indian IPO Blog

Thursday, December 15, 2016

Nakshatra World planning an IPO of around Rs.650 Crores

Gitanjali Gems Limited has made a statement that its unit Nakshatra World Ltd. will raise funds through an initial public offering (IPO). Nakshatra World Limited was known as Gitanjali Brands Ltd.

Gitanjali Gems told the exchanges that the company plans to raise about Rs.650 crores through the IPO although not much details were shared. The proposed IPO is subject to requisite approvals, market conditions and other relevant considerations, the company said.

The announcement was made after the closing hours of the market. Hence, not much movement was seen in the Gitanjali Gems Limited stock which fell by marginal 0.63% on the BSE to close at Rs.62.65

Gitanjali Group is one of the largest branded jewellery retailers in the world. It is headquartered in Mumbai, India Gitanjali sells its jewellery through over 4000 Points of Sale and enjoys a market share of over 50 per cent of the overall organised jewellery market in India. Prominent brands housed by the group are Nakshatra, D'damas, Gili, Asmi, Sangini, Maya, Giantti, World of Solitaire, Shuddhi, Diya to name a few

Gitanjali is engaged in the cutting and polishing diamonds as well as in jewellery manufacturing, branding and retailing. It exports its cut and polished diamonds, as well as its diamond and other jewellery products to various international markets such as the United States, Middle East, Japan, China, Hong Kong , Thailand and to markets in Europe such as Antwerp and Italy. The group remains a dominant player in the diamond and jewellery segments. It has also recently forayed into the retail and lifestyle space

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