|We were originally incorporated on
December 04, 1989 as Mayur Gem and Jewellery
Export Private Limited and were engaged
in the business and manufacture of jewellery.
Mr. Chandrakant Dhanak and Mrs. Darshana Dhanak
were the original promoters
of our Company. In the year 1995,
Mr. Niranjan A. Shah and family acquired
the entire shareholding of Mayur Gem and Jewellery
Export Private Limited.
With effect from April 16, 1997 our Companys
name was changed from Mayur Gem & Jewellery Export
Private Limited to Rinaissance
Gem & Jewellery Export Private Limited.
Merger of Sur Style Jewellery Private Limited
with Renaissance Jewellery Limited
With effect from April 1, 1998 effective
date the business of Sur Style Jewellery Private
Limited Sur Style engaged in manufacture and export
of studded jewellery was merged into our
Company under the provisions of Section 395(4A) of the
Companies Act, 1956. The Scheme of Merger was
registered with the Registrar of Companies, Mumbai
at Maharashtra on July 1, 1999. Vide the said scheme,
all assets and liabilities of Sur
Style were taken over by our Company. Pursuant to the
same, our Company issued three Equity Shares of Rs. 100/
each to the shareholders of Sur Style for every
two Equity Sharesof Rs. 100/- each held by them
in Sur Style. The paid-up share capital
of Sur Style was Rs.49,96,000 divided into 49,960
Equity Shares of Rs 100 each, consequently 74,940
Equity Shares were issued by our Company to the
shareholders of Sur Style. Further, as per the
requirements of Section 395(4A) of the Companies Act,
1956 our application for striking off the name
of Sur Style under section 560 of the Companies
Act was accepted and with effect from April 20, 2006
the name of Sur Style has been struck off from the
Register of Companies.
With effect from July 1, 2000 our Company became
a deemed public company under section 43A (1A)
of the Companies Act,1956 on achieving average
annual turnover of more than 25 crores for
the last 3 consecutive preceding years. Pursuant to the
Companies (Amendment) Act, 2000 our Company made an
application vide its letter dated February 21, 2001
to the Registrar of Companies, Maharashtra at Mumbai
for conversion from deemed public company to private
company under section 43A(2A) of the Act. Our Companys
name was thereafter changed to Renaissance
Jewellery Private Limited with effect from April 5,2002.
On December 20, 2005, our Company was converted to a public
limited company from private limited company and our name
was changed to Renaissance Jewellery Limited.
In September 2007 Renaissance Jewelry New York Inc (RJNY),
a venture promoted by our Promoters, which has been
incorporated under the US laws, issued 100 fully
paid up and non-assessable shares of RJNY out of its
total authorized issue of 200 shares without par
value common stock. The total consideration
for the purchase of common stock was $10,000 at a
price of $ 100/- per share of the Corporation.
By virtue of this allotment of common stock of
RJNY, RJNY has become our100% foreign subsidiary
with effect from September 12, 2007.
In July 2007, we also commenced exports of loose diamonds
from our facility situated at Opera House, Mumbai.
The main objects of our Company are as follows:
To carry on the business of Jewellery, ornamentalists,
and to manufacture,buy, sell, import export or otherwise
trade and deal in, jewellery, ornament, artifacts,
china, curious, antiquesidols and other obiects of
every type whatsoever made from or composed either
wholly or in part of gold, silver, platinum
brass, copper diamonds and other precious, nonprecious
semi-precious metals and stones.
Our Company had filed its DRHP document on one occasion,
with SEBI and the Stock Exchanges. We had
initially filed our Draft Red Herring Prospectus
with SEBI, BSE and NSE on April 28,
2006 for a public issue of 35,10,000 Equity Shares of Rs.
10/- each. NSE and BSE vide their letters dated
June 22, 2006 and June 5, 2006 respectively,
had given in-principle approvalfor listing. SEBI
had issued its observation vide its letter No.
CFD/DIL/NB/JAK/72591/2006 dated July 27, 2006.
However, on account of unfavourable market conditions,
we did not proceed with the Issue.
1989 Incorporated as Mayur Gem and Jewellery Export Private Limited
1995 Current Management acquired Mayur Gem and Jewellery Export
PrivateLimited on a going concern basis.
1999 Merger Of Sur Style Jewellery Private Limited with
our Company witheffect from April 1, 1998
2000 Purchased the facility and commenced business at Plot 36A-37
measuring 40,000 sq.ft. from Saha Electronics.
2001 Received Export Performance Award from SEEPZ-SEZ
as SEEPZ-SE Star 2000-2001 for export of over
Rs 75 crores from the zone in the GemAnd Jewellery
Sector during 2001
2002 Certification of the facility(36A & 37) by Wal-Mart and
commenced business with Wal-Mart
2004 Commenced business with Zales Corporation-the largest
speciality jewellery chain in North America
2005 Received International Supplier of the Year award from
Wal-Mart for the year 2004 Set-up a 100% EOU in Bhavnagar,
Gujarat in a facility measuring 64,000 sq.ft.
and commenced businessReceived Business Excellence Model
(BEM) Certification as a Certified Diamond Jewellery
Manufacturerfrom Rio Tinto Diamonds- An Australian
mining companyConversion of our Company from
private to public limited.
2006 Renaissance Retail Venture Private Limited
and Verigold Fine Jewellery Private Limited became
ourCompanys wholly-owned subsidiaries.
Certificate of Merit by GJEPC for being the second
largest exporterof studded precious metal jewellery
f rom SEEPZ-SEZ for the year 2005-06
2007 Recognition as Three Star Export House
Setting up of Renaissance Jewelry New York, Inc,
a 100% subsidiary of our Company.