Su-Raj Diamonds and Jewellery Ltd. plans to raise capital through preferential issue of up to 36.4 million equity shares of INR 10 each to foreign institutional investors, Rapaport reported. The company will hold an extraordinary general meeting on January 18, 2012 to obtain shareholder consent.
The company has proposed shares to Passage to India Master Fund Ltd., Sparrow Asia Diversified Opportunities Fund, Davos International Fund and Leman Diversified Fund.
Funds raised from the offering will be utilized for augmenting long term capital resources and to meet growth requirements, Su-Raj Diamonds stated. The company is yet to price the issue.
Su-Raj Diamonds is a manufacturer and exporter of polished diamonds, gold, silver and platinum jewelry studded with diamonds, color stones and semi precious stones as well as plain jewelry.
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