IPO News: Veeram Ornaments coming with an IPO to raise Rs3.98 crore

SMC | April 22, 2015, midnight

IPO NEWS 


Veeram Ornaments coming with an IPO to raise Rs3.98 crore


Veeram Ornaments is coming out with an initial public offering (IPO) of 11,37,000 equity shares of face value of Rs10 each for cash at a fixed price of Rs35 per equity share. The issue will open on December 23, 2016 and will close on December 28, 2016. The shares will be listed on SME platform of BSE. The company is integrated Wholesaler, Trader & Retailer of branded Jewellery & Ornaments. It is also into trading business of silver and distributor of readymade gold&silver Jewellery&Ornaments. Its portfolio of products includes gold and silver jewellery with or without studded precious and semi-precious stones. Its Jewelries and ornaments are designed keeping inmind the demand for theTraditional,Modern&Indo-Western jewellery&ornaments in India.


Gitanjali Gems says Nakshatra World unit planning Rs650 crore IPO


Jewellery firm Gitanjali Gems Ltd said that its unit Nakshatra World Ltd will raise funds through an initial public offering (IPO). Nakshatra World, earlier known as Gitanjali Brands Ltd, plans to raise as much as Rs650 crore through the IPO. The proposed IPO is subject to requisite approvals, market conditions and other relevant considerations. Gitanjali Gems owns and distributes several renowned jewellery brands such as Gili, Nakshatra, Asmi, Sangini, Nizam and Parineeta. Gitanjali's network of own stores, shop-in-shops and franchise outlets spans across 200 cities and 3,000 points of sale, according to the company's latest annual report.

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