Shree Ganesh Jewellery derives 95-97% revenue from exports
Published on Fri, Mar 19, 2010 at 11:26 | Source : CNBC-TV18
Updated at Fri, Mar 19, 2010 at 13:27
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Shree Ganesh Jewellery derives 95-97% revenue from exports
The initial public offering (IPO) of Shree Ganesh Jewellery House, an exporter of handcrafted gold jewellery, opened for subscription today. Nilesh Parekh, Chairman, spoke about the latest happenings in his company and sector.
The initial public offering (IPO) of Shree Ganesh Jewellery House, an exporter of handcrafted gold jewellery, opened for subscription today.
The company plans to raise around Rs 371-385.3 crore via 142,69,831 equity shares issue at price band of Rs 260-270 a share. The issue will close on March 23, 2010.
In an interview with CNBC-TV18, Nilesh Parekh, Chairman, Shree Ganesh Jewellery House Ltd, spoke about the latest happenings in his company and sector.
Here is a verbatim transcript of the exclusive interview with Nilesh Parekh on CNBC-TV18. Also watch the accompanying video.
Q: Can you tell us a bit about your company in specific as which geographies you are present in, whether you focus on gold or other precious metals as well?
A: We are plain gold jewellery exporters from West Bengal that is eastern part of India. We are one of the largest manufacturers of handcrafted jewellery from India. All our manufacturing activities are from West Bengal as artisans all over India, all over the world come from West Benga. It has been an opportunity for us to have units at Manikanchan special economic zone (SEZ) in West Bengal. We employ approximately 562 artisans, 15 designers and Sabyasachi Mukherjee is one of our leading designers.
Our main markets are exports, 95-97% of our revenue comes from exports and 5% come from domestic market. The company has lot of corporate governance, KPMG has been auditing our company since long years. Credit Suisse has invested 80 crore as private equity in 2008, taking a stake of 10.99% in our company.
