Rajesh Exports a leading jewellery manufacturer is planning to acquire at least 76% stake in the 5-year -old branded jewellery retail chain Oyzterbay in a deal estimated at around 76% stake in the 5-year-old branded jewellery retail chain Oyzterbay in a deal estimated at around Rs 40 crore.The deal is likely to be conducted later this week. Currently ,ICF Ventures holds 53% stake in Oyzterbay leaving the remaining 47% in the hands of Mr Nagnia and his team.Rajesh Exports acquisition could go well over 76% if ICF decides to make a complete exit,which is likely, said informed sources.
The contours of the deal may see some changes depending on the final equity structuring ,which is under last minute deliberations,added the sources.The deal is driven by the potential synergies between Rajesh exports manufacturing expertise and Oyzterbays marketing skills.Rajesh exports has seen its top line vault from Rs 245 crore three years back.In 2002-2003, the company set up a modern jewellery manufacturing facility, which can process 250 tonne of gold per annum.The optimum utilisation of the capacity would equal a value of Rs 12,000 crore annually, and the company plans to tap optimum capacity in the next five years.
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| Posted : 2/9/2006 |
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