Rajesh Exports rises 2%, repays loans taken for Valcambi buyout

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Moneycontrol Bureau

Rajesh Exports shares gained more than 2 percent intraday Tuesday on repaying loans availed for acquisition of Valcambi.

"Shareholders Global Gold Refineries (GGR) has paid back debt which it had availed from Credit Suisse, Zurich within the first year of acquisition of Valcambi," says the Bengaluru-based gold refiner in its filing.

Rajesh Exports had acquired Valcambi, the Swiss-based world's largest gold refinery on July 24 (2015) from New Mont Mining Corporation. Acquisition was done through a special purpose vehicle namely GGR constituted in Switzerland.

With this acquisition, the company has built up a total capacity to refine 2,400 tons of precious metals per annum.

At 11:33 hours IST, the scrip of Rajesh Exports was quoting at Rs 599.95, up Rs 3.20, or 0.54 percent on the BSE.Posted by Sunil Shankar Matkar