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
Domestic precious metal markets record steady retail pricing
Despite Friday’s modest rebound, gold remains on track for a weekly decline of 4.6% amid market concerns over potential U.S. Federal Reserve rate hikes and inflationary pressures
Domestic precious metal markets recorded steady retail pricing across major Indian metropolitan centers today, following global market fluctuations driven by international interest rate expectations and crude oil trends.
In the domestic bullion market, benchmark gold bullion traded at ₹1,37,310 per 10 grams, while silver stood at ₹1,77,260 per kilogram as of morning market hours.
Global Market Context
On the international front, spot gold saw a marginal uptick of 0.1% to reach $3,882.09 per ounce, recovering slightly after touching a 13-month low in the previous session. Despite Friday’s modest rebound, gold remains on track for a weekly decline of 4.6%—its steepest weekly drop since early June—amid market concerns over potential U.S. Federal Reserve rate hikes and inflationary pressures from rising oil prices. Meanwhile, spot silver declined by 1.74%, platinum edged lower, and palladium posted gains.
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