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Corporate
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Mergers & Acquisitions
Flawless promoters to hike stake
Coimbatore, April 8
Flawless Diamond India Ltd has decided to increase
its stake by way of creeping acquisition from open
market. As per the SEBI guidelines, the promoters can
increase up to 5 per cent of the company's paid-up
capital, i.e., 8,33,900 shares. Accordingly the promoters
can purchase 8,33,900 shares from the open market. As
part of its expansion plan of retail chain stores for
retailing its branded and non branded designer jewellery,
the company has opened 19 exclusive outlets and many
more are to be opened. - Our Bureau
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