Branded jewelry company Renaissance Global (NSE:RGL, BOM:532923) raised 1.63 billion Indian rupees through a preferential allotment of 10,899,539 equity shares at the rate of 150 rupees apiece, according to a Tuesday filing to the stock exchanges.
The company plans to use the funds raised to strengthen its balance sheet and tap into growth opportunities across its global operations.
The proceeds will go into investments in new manufacturing units, asset refurbishment, and enhancements to operational capabilities, along with inorganic growth opportunities such as strategic acquisitions and joint ventures.
Shares of the company were up over 1% in recent trade.
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