Credit Suisse sells Gitanjali Gems shares for Rs 11.87 cr

Foreign fund house Credit Suisse (Singapore) today sold 19.75 lakh shares of branded jewellery firm Gitanjali Gems in a transaction worth Rs 11.87 crore.

As per the block deal information with the bourses, Credit Suisse offloaded a 19,75,073 shares (amounting to 2.14% stake) of Gitanjali Gems to Venus Capital Management.

The jewellery firm's shares were sold at an average price of Rs 60.1 apiece, amounting the transaction at Rs 11.87 crore, the block deal showed.

At the end of quarter ended June 30, Credit Suisse held 19.96 lakh shares of Gitanjali Gems equivalent to 2.17% shareholding in the company.

Gitanjali brands range from loose diamonds to diamond- studded jewelleries and other stone-studded jewelleries like precious and semi-precious, in gold, silver as well as high-end watches, jewellery-watches, among others.

Shares of Gitanjali Gems ended the day at Rs 58 each, down 3.81% from the previous close, on the BSE.