Mumbai-based diamond and jewelry manufacturer Flawless Diamonds India has notified that it has received two new orders worth Rs 33.60 crore for designer jewellery.

The company secured first order, worth Rs 24 crore from Japan's Tsutsumi Jewellery Co Ltd, while the second order, valued at Rs 9.60 crore has been bagged from Brilliant Gems Inc USA.

The orders are scheduled to be completed in 4 months.

Apart from the latest development, the company is planning to raise Rs 100 crore by way of equity and debt to fund its expansion plans.    

In addition, the firm also intends to spin off its retail business into a separate fully-owned unit, which will later be listed on the stock exchanges.