INDIAN JEWELLER

A Shift from Private to Public Companies

After jewellery manufacturing and exporting companies its time for the renowned jewellery retailers to launch their initial public offerings (IPO) and make a shift from a private company to a public company.

Post By : IJ News Service On 08 December 2012 2:46 PM
It was during 2008 that a diamond merchant from Mumbai gifted a diamond studded phone to the landmark Siddhivinayak temple in Mumbai, India. As reported in a local newspaper of Mumbai, the Siddhivinayak Temple Charitable Trust had placed the phone on auction, which was bought by Pratap Sarnaik, Nationalist Congress Party Corporator from Thane, for Rs.15.5 lakhs. He in turn had gifted this to a party leader and State Irrigation Minister Ajit Pawar, as a birthday gift. %% Mr. Pawar in turn returned the phone to the temple Trust, asking the Trustees to again auction the handset for charity. %% The Trust has placed the phone on auction again, but has not found a bidder so far. The recession seems to be weighing down the interest of buyers. The expected bid price of the phone was atleast Rs.10 lakh, but a suitable buyer is still awaited.

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