Gitanjali Gems to issue 1554050 shares for acquisition of 97% shares of Samuels Jewelers Inc, USA

Gitanjali Gems Ltd has announced that Company has got approval from Foreign Investment Promotion Board for issuing 1554050 equity shares of Rs 10 each of the Company at a premium of Rs 280/- to B III Capital Partners, L.P. and B III A Capital Partners L.P. towards acquisition of 97% shares of Samuels Jewelers Inc, USA.

The said shares are issued as part consideration for acquiring 97% shares i.e. 1900 shares of Samuels Jewelers Inc, USA.

Shares of the company closed the day at Rs.192.45, up by Rs.6.80 or 3.66% on volume of 539880 shares.

Source : Equity Bulls

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