Renaissance Global Ltd acquires assets of US based jewellery player Four Mine Inc

Renaissance Global Limited (Renaissance), a global branded jewellery player, has acquired the assets of Four Mine Inc. through its wholly owned subsidiary Renaissance FMI Inc. The Company intends to fund the investment through cash on the balance sheet. Four Mine Inc. specializes in the sale of branded lab grown diamond engagement rings and this transaction will give Renaissance a strong foothold in this space, apart from improving the operating margin of the business through supply chain efficiencies.

Shares of Renaissance Global Limited was last trading in BSE at Rs. 783.80 as compared to the previous close of Rs. 839.90. The total number of shares traded during the day was 8805 in over 547 trades.

The stock hit an intraday high of Rs. 825.00 and intraday low of 776.60. The net turnover during the day was Rs. 7115188.00.

Source : Equity Bulls

Keywords

RenaissanceGlobal INE722H01016 AssetAcquisition FourMine