09.06.06
Gold Souk IPO in 2007
Gold Souk IPO in 2007
NEW DELHI: Bullish on jewellery consumption in the country, Aerens Gold Souk, a jewellery mall under the Aerens group, is planning to come out with an IPO next year. The company is also negotiating with US and UK-based real estate funds, and hopes to finalise talks by the end of this fiscal, Aerens Gold Souk International director Ashish Gupta said. “As per our vision plan, we require $4 billion (about Rs 18,000 crore) for expanding our business. For funding of such magnitude we are looking at an IPO,” he said. Besides the IPO and real estate funds, the company is also exploring other sources for raising funds, including promoters’ contribution, private equity funding, debt, etc.