Published on 14/03/2017 10:47:40 AM | Source: Dion Global Solutions Ltd.

Gitanjali Gems subsidiary Nakshatra World files for IPO

Posted in Top Stories| #IPO #Gitanjali Gems Ltd #Diamond

Nakshatra World, subsidiary of Gitanjali Gems, has announced filing of its draft red herring prospectus ( DRHP) with the capital market regulator for an IPO. Earlier in December 2016, the company outlined its plan to raise close to Rs. 650 crore, subject to regulatory approvals, said the media reports. The board of directors of the company also approved the proposal of public offering of equity shares of Nakshatra World and dilution of its stake consequent to initial public offer, reported ANI.