Gitanjali Gems Ltd to raise US $200 million

Gitanjali Gems Limited has informed the Exchange that the members in AGM held on September 21,2006 authorised the board to create, offer, issue and allot in one or more tranches of public or private offerings in international markers, through prospectus and/or offer letter or other permissible/requisite offer document, FCCBs, GDRs and/or ADRs convertible into Equity Shares at the option of the Company and/or holders of the Security subscribed to in Foreign Currency, Non Resident Investors and/or domestic markets through Equity Shares / FCDs / PCDs or any securities other than warrants, which are convertible into Equity Shares subscribed to in Rupees by QIB's up to an aggregate amount not exceeding USD 200 Million or equivalent amount in Indian or any other currency.

Source : Equity Bulls

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