International News
Advent International Set to Acquire Controlling Stake in Orra Jewellery for Rs 1,750 Crore
US-based private equity firm Advent International is in advanced talks to acquire a controlling stake in Orra Fine Jewellery, a brand previously owned by India’s Rosy Blue Group, according to multiple sources familiar with the deal. The transaction, valued at Rs 1,500-1,750 crore (approximately $174-203 million), highlights the growing interest from investors in the jewellery retail sector.
Advent is expected to take a 51-75% controlling stake, with Dipu Mehta, Orra’s managing director, retaining a minority share. The private equity firm plans to take Orra public within a few years, and as part of the deal, it will assume management and voting rights.
Orra, founded in 2004 by the Rosy Blue Group, sells diamond, gold, and platinum jewellery through a network of stores across India. With design centres in global cities like Antwerp, Tokyo, New York, and Hong Kong, the company has carved out a niche in the premium jewellery market. The deal is now in the final documentation stages, with an official announcement expected soon.
International News
Gemfields’ Higher-Quality Emerald Auction Fetches $26.8 Million
Strong Demand Continuing For Top-Tier Stones Despite Broader Market Caution Driven By Geopolitical Tensions and Macroeconomic Uncertainty.
Gemfields reported revenues of $26.8 million from its latest higher-quality rough emerald auction, with strong demand continuing for top-tier stones despite broader market caution driven by geopolitical tensions and macroeconomic uncertainty.
The auction, held from 4 to 21 May 2026, saw 36 of 37 lots sold, representing a 97% sell-through rate. Of the 185,135 carats offered, 183,385 carats were sold, achieving an average realised price of $146.08 per carat.
The rough emeralds were mined by Kagem in Zambia. Buyers viewed the lots in Bangkok before bidding through Gemfields’ online sealed-bid auction platform.
Adrian Banks, Gemfields’ MD- Product & Sales, said:
“While demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty…Competition and pricing for the top-tier emeralds remained particularly strong.”
Banks also pointed to the Indian rupee’s roughly 10% depreciation against the US dollar since Kagem’s previous higher-quality auction in September 2025 as an added challenge for many customers.
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