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Mumbai, Dec. 12

Diamond and jewellery manufacturing major Gitanjali Gems has priced its Global Depository Receipts (GDR) at $9.67 (Rs 380) per receipt. The GDR offering was for a total sum of $180 million or approximately Rs 720 crore (including an over-allotment option of up to $30 million). Each GDR represents one equity share of the company of nominal value of Rs 10 each. The share price of the company closed at Rs 417.9 on Wednesday. The GDRs will be listed on the Professional Secur ities Market of the London Stock Exchange. J P Morgan Securities is acting as the sole book-runner and lead manager and Jefferies International is acting as co-manager for this transaction.

— Our Bureau

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