Renaissance Global Limited announced it will invest a maximum of ₹29 crore in its Dubai-based wholly-owned subsidiary VJFZCO. Through this strategic initiative, the company plans to enhance its position in the profitable Middle Eastern region and enlarge its jewelry business globally.
Major points:
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Investment of a maximum of ₹29 crore sanctioned for VJFZCO
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Follows recent debt reduction of ₹53 crore in Q4 FY2025
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Fits with Renaissance Global's global expansion plan
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VJFZCO set to concentrate on jewelry distribution and retail in UAE
This investment follows Renaissance Global's ongoing consolidation of its balance sheet, having cut its gross debt by ₹53 crore in the current Q4 FY2025. The net debt of the company was at ₹188 crore as of December 31, 2024, from ₹311 crore in the same period last year.
The move into Dubai via VJFZCO is poised to capitalize on the UAE's geographical position as a global commerce center and exploit the expanding market for luxury goods in the region.
Sources: Renaissance Global Regulatory Filing, Business Standard, March 20, 2025