Gitanjali Gems Board to consider buy back of equity shares

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Gitanjali Gems, country’s pioneer in branded jewellery, in its meeting of the board of directors of the company to be held on December 19, will consider the proposal of buy back of equity shares, the company has said in a statement to Bombay Stock Exchange.

With brands including D’Damas, Asmi, Sangini, Nakshatra and Gili, the company has interests in diamond and jewellery, retail, infrastructure and lifestyle businesses. Earlier in October this year, the Mumbai-based company also increased its stake in Gitanjali Exports Corporation Ltd (GECL), a material non listed subsidiary company, from 51 per cent to 100 per cent and thereby making it a wholly owned subsidiary company.

— Shailesh Shah

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