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.
Last month, the firm had won an export order worth Rs 1,360 crore from the UAE for gold and diamond studded jewellery.
"The order is believed to be delivered within a period of four months. REL will be manufacturing this jewellery at its manufacturing plant at Bengaluru and is confident of supplying the order within the stipulated time period," Rajesh Exports Ltd.
Did you know about a company which boasts of being India's largest exporter and importer of gold jewellery but discloses very little to its investors.
On July 27, Rajesh Exports took over the Switzerland headquartered Valcambi for USD 400 million (about Rs 2,560 crore) in an all-cash deal.
Jewellery firm Rajesh Exports on Monday fully acquired Switzerland-headquartered gold refinery Valcambi for USD 400 million (about Rs 2,560 crore) in an all-cash deal, and said it is looking at venturing into gold mining in the next 2-3 years.
The company was selected after a global search by Valcambi's existing owners led by Newmont Mining Corp, the world's largest gold jewellery maker said.