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
Precious Metals Gain As Crude Prices Weaken
Slumping Crude Prices and A Weaker Greenback Offer Support To Gold and Silver, Even As Federal Reserve Interest-Rate Uncertainty Looms
Gold and silver prices edged higher on Monday morning, finding support in a softening U.S. dollar and a sharp retreat in global energy prices after President Donald Trump announced that Washington would enter diplomatic talks with Tehran.
The prospect of a diplomatic breakthrough in the Middle East provided immediate relief to global markets, driving crude oil benchmarks down more than 5% to trade near $83 per barrel. The decline in energy costs helped alleviate broader fears of persistent, energy-driven inflation, while the U.S. Dollar Index slipped 0.50% to 99.42—falling below the key 100 mark and making dollar-denominated bullion more attractive to international buyers.
On India’s Multi Commodity Exchange (MCX), gold futures for October delivery traded up 0.13% at Rs 1,43,557 per 10 grams during early deals. Silver futures for September delivery rose 0.40% to Rs 2,18,061 per kilogram.
The market shift follows statements from President Trump over the weekend indicating that discussions with Iranian officials would take place on Monday. While Mr. Trump set no firm deadline for an agreement, the move raised hopes for a resolution regarding the impasse over Iran’s nuclear ambitions and a potential agreement to guarantee safe passage through the vital Strait of Hormuz.
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