Rajesh Exports Limited is an Indian multinational gold retailer headquartered in

Bangalore Bangalore (), List of renamed places in India, officially Bengaluru (), is the Capital city, capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan area, metropolitan population of a ...

Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...

. The company refines, designs, and sells gold and jewelry. It was ranked 7th on the

Fortune India 500 The ''Fortune India'' 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. ''Fortune India'' is ''Fortune'' sixth internatio ...

list in 2022, with revenues of ₹2.90

trillion ''Trillion'' is a number with two distinct definitions: * 1,000,000,000,000, i.e. one million million, or (ten to the twelfth power), as defined on the short scale. This is now the meaning in both American and British English. * 1,000,000,000,0 ...

, and 462nd in the

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed onl ...

. The present managing director is Prashant Mehta and the executive chairman is Rajesh Mehta.

History

The company was founded in 1989 as Rajesh Exports Limited by Rajesh Mehta and his brother Prashant Mehta both born in a middle class

Jain Jainism ( ), also known as Jain Dharma, is an Indian religion. Jainism traces its spiritual ideas and history through the succession of twenty-four tirthankaras (supreme preachers of ''Dharma''), with the first in the current time cycle being ...

family. The brothers started manufacturing in a ten-person shop located in their garage in

. By 1990, the company opened a retail front and rapidly expanded. In 2001, the company built a large manufacturing facility in Bangalore. In 2011, the company raised $134.9 million by converting the

Foreign currency convertible bonds Foreign currency convertible bonds (FCCBs) are a special category of bonds. FCCBs are issued in currencies different from the issuing company's domestic currency. Corporates issue FCCBs to raise money in foreign currencies. These bonds retain all f ...

they had issued in 2007. In 2015, the company acquired the largest gold refiner in the world, Valcambi of

Balerna Balerna is a municipality in the district of Mendrisio in the canton of Ticino in Switzerland. History Balerna is first mentioned in 1115 as ''Barerna''. In 844 and 865, the monastery of S. Ambrogio in Milan purchased land in the ''concilium'' o ...

, Switzerland, for $400 million. Now they are planning to expand their Shubh Jewellers retail store.

References

Companies established in 1989 Manufacturing companies based in Bangalore Jewellery companies of India 1989 establishments in Karnataka Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange {{India-company-stub

History

See also

References