Gitanjali Gems clarifies on acquisition

With reference to the news item appearing in a leading financial daily titled, "Gitanjali close to buying out US Co for $100m", Gitanjali Gems Ltd has clarified to BSE that the said news has not been released by the Company to Press.

As of Date the Company has not yet finalized any new acquisition in the US.

While it is true, and common knowledge, that the Company is actively seeking for retail acquisitions in the US and other countries abroad, it is still in the process of studying various Companies, their merits and demerits, etc and no deadline has been set for the acquisitions.

If and when such an acquisition comes through, the Company shall confirm the same to the exchange following the essential protocol.