Sagar Diamonds to enter capital market


Sagar Diamonds Limited, an ISO 9001

The issue opens on Thursday and closes on Monday. Gretex Corporate Services Private Limited is the sole lead manager to the issue and Bigshare Services Private Limited is the registrar to the issue. The proceeds of the issue will be utilized for working capital requirements, general corporate purposes and issue expenses.


The company is planning to import the raw diamond and convert into the polished diamond. The company exports to Hong Kong, Europe and so on.

The gems and jewellery sector plays a significant role in Indian economy. It is one of the fastest growing sectors. The government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote 'Brand India' in the international market.

India's gems and jewellery exports jumped by 8.95 per cent for financial year 2016-17 on recovery in demand from the United States (US), Hong Kong and the United Arab Emirates (UAE), the three destinations accounting for over 75 per cent of India's overall shipment of precious ornaments by value.

India is the world's largest cutting and polishing centre for diamonds, with the cutting and polishing industry being well supported by government policies.

Moreover, India exports 95 per cent of the world's diamonds, as per statistics from the Gems and Jewelry Export promotion Council (GJEPC). India's gems and jewellery sector has been contributing in a big way to the country's foreign exchange earnings (FEEs).

ALSO READ  :  Sagar diamonds share market news

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