National News
Bluestone in talks with Peak XV Partners, Steadview Capital Think Investments for Pre-IPO Round
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
The pre-IPO round will combine share sales by early investors with new capital, aiming to value the omnichannel retailer at approximately Rs 7,500 crore ($900 million) before the infusion, as per the report.
Venture capital firm Peak XV Partners will reportedly invest around Rs 415 crore in the round. A source speaking to the Economic Times said, “Peak XV is in talks to lead the funding amid a wider inclination for venture funds to tap domestic brands and offline retailers.”
Further, some family offices via special-purpose vehicles might also reportedly participate in the round. The round is expected to be closed in the next few days.
In September 2023, Bluestone raised $65 million from a group of investors at a valuation of $410 million.
National News
Global and Domestic Precious Metals Trading Under Pressure
The Primary Catalyst Driving This Downturn Is The Surging Cost Of Crude Oil, Which Is Escalating Energy Crisis Fears.
Global and domestic precious metals are trading under pressure as renewed upside momentum in crude oil prices keeps broader inflationary risks elevated.
MCX gold touched an intraday low of Rs 1,44,467 per 10 grams and is down by 1%. Meanwhile, MCX silver price crashed sharply by over 2% to hit an intraday low of Rs 2,044,460 per 1Kg
In international spot markets, gold is down 1.0% and struggling to hold $4,112 per ounce, while spot silver experienced a sharp sell-off of 2.2%, trading around $56.60 per ounce.
The primary catalyst driving this downturn is the surging cost of crude oil, which is escalating energy crisis fears. High energy costs reinforce sticky inflation, prompting expectations that global central banks will maintain restrictive monetary stances for longer.
Because holding non-yielding metals becomes more expensive when interest rates remain elevated, both gold and silver are seeing selling pressure, with silver facing additional headwinds due to concerns surrounding industrial demand.
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