Gitanjali Gems increases stake in GILI India

Gitanjali Gems Ltd has announced that the Company has increased its stake in Gili India Ltd from 40 per cent to 65 per cent. Gili India Ltd owns India´s first retail jewellery brand ´GILI´. By virtue of this acquisition of shares, Gili India Ltd, an Associate Company has become subsidiary of the Company.

´GILI´ continues to be high recall jewellery brand with a commendable share of the branded jewellery market. It was accorded ´Super Brand´ status by the Indian Consumer Superbrands Council, in 2004. It was featured among the top ten jewellery brands in the country by the GJEPC magazine Solitaire International, last year. With the increase in the stake, the group has further consolidated its hold over branded jewellery market in India.

Source : Equity Bulls

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