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Gitanjali Gems to raise $250 million

Gets shareholders' nod.

Tags: gitanjali

March 07, 2013  |  comments ( 0 )  | 

Gitanjali Gems has received shareholders' approval to raise up to $250 million through through various routes including foreign currency convertible bonds and qualified institutional placement. The approval came through postal ballot process for its special resolution.The special resolution was to issue equity shares through various routes like Qualified institutional placement (QIPs), global depositary receipt (GDR) and Foreign Currency Convertible Bonds or any other securities compulsorily convertible into equity shares up to $250 million.

Gitanjali has brands such as Nakshatra, Asmi, Gilli and D'Damas.


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