Nanavati Ventures Ltd Company Summary

Nanavati Ventures Ltd Summary

Nanavati Ventures Limited was originally incorporated as Nanavati Ventures Private Limited vide Certificate of Incorporation dated August 10, 2010 issued by Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli. The name of the Company was changed from Nanavati Ventures Private Limited to Nanavati Ventures Limited and a fresh Certificate of Incorporation dated August 14, 2020, upon conversion from Private to Public Company was issued by the Registrar of Companies, Ahmedabad. The Company is engaged in trading of diamonds majorly in Surat, Gujarat. The Company operations include sourcing of polished and uncut diamonds from primary and secondary source suppliers in the domestic market and sale of diamond to the retail and wholesale operations in Gujarat. The Company primarily sell diamonds to a customer base spread across domestic markets that includes various jewellery manufacturers, large department store chains, retail stores and wholesalers. The Company procure the rough and unpolished diamonds in several sizes and shapes from the suppliers and then the processing and polishing of rough gemstone is done by skilled workers on job-work basis. Apart from this, the Company has independent sales and distribution networks for its products. A substantial majority of cut andpolished diamonds are sold to diamond wholesalers and the jewellery manufacturers in the domestic markets. The Company procure diamond from suppliers at domestic level to have good business association with them. The Company has a centralized procurement policy and generally purchase in large volumes in order to stock. With large volumes of purchases, the Company is able to purchase inventory at lower prices than the competitors, which enables to sell its products at competitive prices. In April 2022, the Company made a public issue of 4,36,000 Equity Shares by raising capital aggregating to Rs. 2.18 Crore.