Lypsa Gems’ arm secures order worth Rs 17.70 cr

13/12/2016 11:51

Lypsa Gems and Jewellery DMCC, a wholly owned subsidiary of Lypsa Gems and Jewellery said that it has received a new order worth Rs 17.70 crore from customers based out of UAE, for the supply of diamonds and diamond-studded Jewellery.

This order will be executed over a 14-month period, the company said in a filing to the Bombay Stock Exchange.

Commenting on the development, Lypsa Gems and Jewellery, Director, Jeeyan Patwa said, “We are very pleased with this new order that we won from the Middle east and are positive on garnering more such export orders. We are looking at strengthening our presence in the international market. We are also working on becoming a debt free company soon and have already brought down our debt by 25 per cent.”

Meanwhile, shares of the company were trading at Rs 56.20 apiece, up 1.63 per cent from the previous close at 11:55 hours on BSE.

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