Flawless Diamond India Ltd has informed BSE that the Company has decided to increase it’s stakes by way of creping acquisition from open market. As per the SEBI guidelines the promoters can increase up to 5% of the Company’s paid up capital i.e. 833900 no of Shares. Accordingly the promoters can purchase 833900 no of Share from the open market.

Company’s Managing Director Mr Bhawar U Jain says that, “We are very happy with the growth of the Company and it has posted better growth quarter on quarter consistently for last 10 Quarters. Company has good dividend track record for last 2 years. As per the part of it’s expansion plan of retail chain stores for retailing it’s branded and non branded Designers Jewellery, the Company has already opened 19 Exclusive Out-Lets and many more to open. The Company has strong backup of it?s Designs Bank created by Company?s R&D Division. The Company has state of the art manufacturing facilities, we believe that this is the right time and right stock price to increase our stake in the Company by way of creping acquisition as per SEBI guideline.”