Rajesh Exports, a jewellery manufacturing company in Bangalore, India, is attracting investment interests from De Beers and a US-based fund; as stated in a recent Economic Times report. Both are vying to acquiring 51% stake in the said company. Although a formal bid offer is yet to be made, both parties intend to acquire a majority stake at a premium compared to Rajesh Exports’ current listed market price.
No comments were available from De Beers. Rajesh Exports’ chairman Rajesh Mehta mentioned, “I have no comments to make on any such offers. I can only say that we recently attended an investors’ conference in the US and there is a lot of interest from FIIs in the company.”
It appears that De Beers is keen on strengtheing jewellery retailing in India. Rajesh Exports’ retail venture consists of 30 stores carrying the Laabh brand, in the metros. It is also soon to launch its Shubh brand of jewellery outlets for smaller cities and towns. Rajesh Exports currently has a market capitalization of Rs 2,650 crore.
Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
