Gitanjali Gems Ltd has informed that the Board of Directors of the Company at its meeting held on December 19, 2008, inter alia, has decided to buy back upto maximum 1,20,00,000 equity shares of the Company of Rs 10/- each upto maximum price of Rs 120/- per share aggregating to Rs 144,00,00,000 (Rupees One Hundred and Forty Four Crores only) which is less than ten percent of the total paid-up equity share capital and free reserves of the Company.
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