Gitanjali Gems is eyeing acquisitions in the US and has also short-listed a couple of companies, reports CNBC-TV18.
The company is looking at retail jewellery companies and also companies with presence in diamond jewellery.
Gitanjali Gems is eyeing companies with a size of $100 million. They are going to be funded by internal accruals & public issue.
Gitanjali Gems is also looking to tie up with a domestic jewellery retail outlet and has got clearance for a 200 acre SEZ in Hyderabad. It will take 3 years to develop the SEZ.
The value of SEZ land is 50 times the cost of acquisition and it is worth more than Rs 3 crore (Rs 30 million).
The company has 12% market share in the branded segment, which they hope to increase to 25% in the next 2 years. The company's exports currently stand at Rs 2,000 crore (Rs 20 billion).
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