Ace investor Ravi Agrawal, Chairman of the L7 Group, has recently emerged as the highest bidder in the E-Auction of Antrix Diamond Exports Pvt Ltd, a company, that specializes in manufacturing unassembled jewellery parts, which sought to liquidate its assets as per the provisions of the Insolvency & Bankruptcy Code, 2016.
With this acquisition, L7 Group known for having a strong and diverse portfolio will foray into one of the most lucrative sectors in the market, the jewellery industry. "We are enthusiastic to begin a new chapter, a new kind of operation which the Antrix Diamond Exports Pvt Ltd acquisition will enable us to achieve. The foremost aim of this acquisition, as it is in the case of every business decision we make, is to emerge as a notable player in the sector."
The acquisition of the jewellery business is part of a series of strategic moves powered by the astute business vision of the L7 Group's Chairman. Recently, last November, the company acquired EMI Transmission Ltd, a transmission company, serving innovative hardware and utilities, as well as in August 2020, there was a 400 crore acquisition of Infibeam Avenues, an internet and e-commerce organization that works in thriving business areas such as digital payments, online retailing, e-commerce software, and internet services.
In view of the acquisition, Ravi Agarwal further shared his vision by saying, " By acquiring this new business, L7 Group will channelise its grit and skills into yet another domain. Via acquiring existing companies, we strive to leverage the existing infrastructure and resources of the company and combine that advantage with our long-standing business insights, to carve out a robust space in the industry. L7 group aims to deliver the best possible services in whichever sector it delves into. Behind the success story of the company lies the dedicated efforts of people across the management for whom the versatile growth of the company is the labour of love."
Guided by the advanced business thinking of Mr Agarwal, who has helped L7 Group grow from a boutique family business to its current large-scale present, the company continues to stride in the direction of robustly expanding its presence, adding more and more value to the consumer.
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( With inputs from ANI )
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