Home  »  Company  »  Gitanjali Gems Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Gitanjali Gems Ltd. Company History and Annual Growth Details

The Company was originally incorporated on August 21, 1986 as a
private limited company and became a deemed public limited company
pursuant to Section 43A of the Companies Act, 1956, as amended, with
effect from August 2, 1991. The Company was subsequently converted
into Gitanjali Gems Limited, a public limited company pursuant to a
certificate of change of name dated December 8, 1994.

The following table consists of the summary of corporate information about
our Company

Name of the Company Gitanjali Gems LimitedDate of Incorporation August 21, 1986
Registration No 011-40689
Registered Office 801/802 Prasad Chambers, Opera House,
Mumbai 400 004
Corporate Office As above
Corporate Status Public Limited Company.
Subscribers to the
Memorandum and Articles
of Association Mr. Mehul C. Choksi
Mr. Pravin C. Mehta
Mrs Amita R. Bhansali
Mrs. Neena D. Sheth
First Directors Mr. Mehul C. Choksi
Mr. Pravin C. Mehta
Mrs. Neena D. Sheth
Mrs. Amita R. Bhansali
Authorised Capital
Comprising of Rs. 750,000,000/- comprising of 70,000,000
equity shares of face value Rs. 10/- each and
500,000 redeemable preference shares of
face value Rs. 100/- each.
Paid up Capital Rs. 419,984,950 comprising of 41,998,495 Equity
Shares of Rs. 10/- each

The following table illustrates some of the key events in our history:

Date/Year Event

August 21, 1986 Gitanjali Gems Private Limited was incorporated as a private
limited company.

August 2, 1991 The Company became a public company under Section 43A of
the Companies Act, 1956.

December 8, 1994 The Company was converted into a Public Limited Company viz.,
Gitanjali Gems Limited.

1991 The jewellery operations started at the Manufacturing unit SEEPZ,
Mumbai (Unit of Gemplus - since Merged)

August 7, 1992 Mehul Impex Ltd. became subsidiary of the Company.

1994 India’s first branded jewellery "GILI" launched through Gili India

1996 The operations started at the Manufacturing unit Borivali, Mumbai

2003 The operations started at the Manufacturing unit Surat SEZ, Mumbai

2003 D’Damas - Joint Venture Company formed. (Joint Venture of Gemplus-
since Merged)

2004 Brightest Circle Jewellery Private Limited - a Joint venture Company
formed to promote brand "Nakshtra"

2005 The Government of Andhra Pradesh allocates 200 acres of land to
Gitanjali Gems Limited for development of Special Economic zone for
gems and jewellery in Hyderabad, Andhra Pradesh

April 1, 2005 CRIA Jewellery Pvt. Ltd. became subsidiary of the Company.

20th September 2005 Gitanjali Exports Corporation Ltd. became subsidiary of the Company.

September 30, 2005 The High Court of Judicature at Bombay approves the merger of
Gemplus jewellery India Limited, Prism Jewellery Private Limited,
Giantti Jewels Private Limited into Gitanjali Gems Limited

October 04, 2005 Hyderabad Gems SEZ Ltd. became wholly owned subsidiary of the
company.

October 05, 2005 Fantasy Diamond Cuts Pvt. Ltd. became subsidiary of the company.

October 14, 2005 Issue of 99,88,495 shares as consideration other than cash for the
shareholders of the merged companies

2006

-Gitanjali Gems IPO to price at Rs 210-250 per share

-Gitanjali Gems Ltd has informed that the company has entered into a Memorandum of Understanding (MoU) with M/s. Sanghavi Exports.

- Gitanjali Gems on March 27, announced the signing of a new joint venture agreement with Sanghavi Exports under which it will become a 50-50 partner in Spectrum Jewellery.

-Gitanjali Gems enters into JV with Modern India

-Gitanjali Gems enters into MOU with Sulieman Al Othaim, Saudi Arabia

-Gitanjali Gems acquires Samuels Jewelers Inc, USA

2007

- Gitanjali Gems sets up IT company

2010

- Gitanjali Gems Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2010, inter alia, has appointed Mr. Sunil Varma as Chief Financial Officer (CFO) of the Company with effect from December 01, 2009.

2011

- Gitanjali - Restructuring of Branded Jewellery Business.

- Gitanjali Gems Ltd has informed BSE the Company has incorporated GGL Diamond, LLC in United States of America, through its wholly owned subsidiary Gitanjali USA, Inc. The main object of GGL Diamond LLC is to source and distribute diamond and jewellery.

- Gitanjali Gems Ltd has informed BSE regarding a Press Release dated September 08, 2011 titled "Gitanjali Gems completes Brand Valuation for key Indian Brands in its portfolio".

- In line with the ongoing exercise of re-aligning and restructuring of international business of the Company, the jewellery manufacturer Gitanjali Gems said that it has transferred stakes in its Italian wholly owned subsidiaries.

- Stocks of Jewelry making enterprise Gitanjali jewels, showed an excellent movement throughout the day on the Bombay stock exchange (BSE) sensex on the back of restructuring news.

2012

- Gitanjali Gems Ltd has informed BSE that Aston Luxury Group Limited, a wholly owned subsidiary of the Company has acquired entire stake in Leading Jewels of Japan K K with a view to expand its business in Japan and adjoining region. The main activity of Leading Jewels of Japan K K is Production, sales, purchase, import and export of diamonds, precious stones, jewels and jewellery.

- Gitanjali Gems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 11, 2012, has decided to shift registered office of the Company from 801/802, Prasad Chambers, Opera House, Mumbai - 400 004 to Office no, 1, A- Wing, 7th Floor, Laxmi Tower, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051.

- In order to seize the emerging online market, country’s jewelry maker and retailer Gitanjali Gems has decided to focus on e-commerce, said the media reports.

- Gitanjali Gems Ltd has informed BSE that the Company, through its Hong Kong based wholly owned subsidiary 'Aston Luxury Group Limited', has Incorporated 'Leading Singapore Jewels Pte. Ltd.', with a view to expand it's business in Singapore and Far Eastern regions. The main activity of 'Leading Singapore Jewels Pte. Ltd.' is retailing and distribution of jewellery.

-Registered Office of the Company has been shifted from 801/802, Prasad Chambers, Opera House, Mumbai - 400004 to Office no, 1, A- Wing, 7th Floor, Laxmi Tower, Bandra - Kurla Complex, Bandra (E), Mumbai - 400051.

2013
-Gitanjali Gems has received the B. G. Deshmukh Corporate Social Responsibility Special Jury Award 2013 from MCCIA (Maharashtra Chamber of Commerce Industry and Agriculture) for its various CSR Activities.
-Gitanjali Gems honoured at CNBC TV 18 Emerging India Awards 2013
-Gitanjali Gems announces the merger of Gems London Co. Ltd. with Imacbc Co. Ltd. in Japan
-Gitanjali Gems Ltd has Launch of various brand stores between May 01, 2013 to May 13, 2013.
-Gitanjali Gems Ltd has recommended a Dividend of Rs. 3.00 per Equity Share of Face Value of Rs. 10 each.

2014
-Gitanjali Gems Ltd has approved the appointment of Mr. Chandrakant Karkare as Chief Financial Officer (CFO) of the Company

2015
-Gitanjali Gems Ltd has Scheme of Amalgamation of Gitanjali Exports Corporation Limited (GECL).

2016
-Gitanjali Gems Merger of Gitanjali Exports Corporation Limited with the Company

Find IFSC