Gitanjali Gems appoints Concept for IPO advertising

Concept Advertising has bagged the IPO business for Gitanjali Gems. The creative agency of Gitanjali Gems is Fortune Communication and the media duties are handled by Prachar Advertising. The size of the business is pegged in the region of Rs 5 to 7 crore.

Vivek Suchanti, MD, Concept Advertising, says, “The target group is retail investors and intermediaries. The objective is to make the issue successful.”

Gitanjali Gems Limited, an integrated diamond and jewellery manufacturing company in India, has proposed an expansion plan involving an investment of more than Rs 300 crore. To part finance this plan, Gitanjali Gems Limited soon proposes to enter the capital market with an IPO of 17,000,000 equity shares of Rs 10 each in a 100 per cent book built issue.

In the last few years, Gitanjali Group has enhanced its operations to adapt to the changes that has happened in the diamond industry, internationally. Being a DTC Sightholder and a diamond manufacturer the Group has strategically positioned itself to manufacture and promote diamonds as well as studded jewellery at the retail level. Gitanjali Gems Limited, through its subsidiaries and associate companies retails some of the most popular jewellery brands namely Nakshatra, D’Damas, Asmi, Gili and Giantti.

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