Gitanjali Gems will now provide gold loans and safe deposit vaults under its wholly-owned subsidiary Mohar Jewels.According to a release issued by Gitanjali Gems to the BSE today, the main objective of the new venture would be to provide safe deposit vaults and gold loans to individuals.Gitanjali Gems also announced the acquisition of Trinity Watch Company through its wholly-owned subsidiary Gitanjali Lifestyle. Trinity Watch Company is engaged in the business of sale of watches under its registered premium brand Iris. The company also distributes various international watch brands under licence from various principals, the release added.
Gitanjali Gems has also acquired Renaissance Reail Venture (RRVPL) through Gitanjali Lifestyle. "RRVPL is engaged in the business of promoting, conducting and managing retail stores, dealing and trading in all sorts of silver, gold, platinum and other diamond studded jewellery. Lucera is one of the premium brand owned by RRVPL," the release added.
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