News about Gitanjali Gems Limited
October 12th, 2007
The media had reports that Gitanjali Gems Limited may acquire a leading US based jewellery retailer for around $100 million.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Gitanjali Gems Limited has vide its letter inter-alia stated,”As of date Gitanjali has not yet finalized any new acquisition in the US. While the Company is actively seeking for retail acquisitions in the US and other countries abroad, it is still in the process of studying various Companies, their merits and demerits, etc and no deadline has been set for the acquisitions. If and when such an acquisition comes through, we shall confirm the same to the Exchange.”
Entry Filed under: Equity Markets, NSE
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