Gitanjali Gems has announced that the company has acquired 100 per cent shares of Modali Gems (MGPL), earlier a joint venture company. By way of this acquisition, MGPL has become a wholly owned subsidiary of the company, said Gitanjali Gems in its latest filing to Bombay Stock Exchange.
The main business of MGPL is engaged in the business of all kinds of jewellery, utensils, ornaments, decorative and art materials and machinery and instruments used in jewellery and gems industry.
— IndiaRetailing Bureau
