Flawless Diamond, a Mumbai-based Jewellery maker, has decided to raise Rs 100 crore by way of equity and debt to fund its expansion plans.      

The company stated in a release that its board has approved the raising of funds through a mix of debt and equity by Rs 100 crore for expanding operations.      

Apart from this, the board has also approved the transfer of company's retail business of designer jewellery into a separate subsidiary with an intention of listing it on the stock exchanges at a later date.      

The scrip of the company finally settled the day at Rs 36, down 2 per cent on the BSE, after touching intraday high of Rs 38.