Tara Jewels To Launch IPO Soon To Raise Rs.200 Cr.

Source:RTTNews - 10/7/2011 2:16 AM ET

The Mumbai-based jewellery exporter Tara Jewels said it had obtained approval from the market regulator Securities and Exchange Board of India or SEBI to launch its Initial Public Offer or IPO.

Chairman and Managing Director Revin Sheth said the company was planning to raise up to Rs.200 crore through the share sale.


Tara is a leading jewel export company with a turnover of Rs.1,000 crore. It has 30 showrooms in India and will soon open 20 more in various parts of the country, he added


The company has three more jewellery outlets in Gujarat based at Ahmedabad, Baroda and Surat. It has now opened a showroom in Rajkot on Wednesday.


Founded in 2001, the Tara Jewels is an integrated player that dabbles in manufacturing, retailing with manufacturing facility and distribution with offices in China, United States and India.