The venture aims to cater to discerning consumers seeking design-led, bespoke, and high-quality jewelry.
The business will be set up under a new venture ‘Novel Jewels Ltd.'
The issuance will take place in one or more tranches. The funds will be raised on a private placement basis.
On Monday, it was revealed that a second VRRR auction for 1 trillion rupees would take place, this one lasting only four days.
The Wonderla Holidays Ltd stock has delivered a return of 62.15 % over the past five years.
Most dealers expect prices to go up only post-monsoon, some believe there could be one hike in mid-June to withstand any weakness during the monsoon.
Multibagger Stock Declares Rs 3 per Share Final Dividend for Shareholders
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
The floor price for the two-day OFS is set at ₹225 per share.
The fundraising will take place through a private placement in one or more tranches.