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
Gold, Silver Prices Fall As US-Iran Tensions Raise Rate Hike Concerns
Higher US Treasury Yields, A Stronger Dollar and Expectations Of Further US Federal Reserve Rate Hikes Were Weighing On Gold and Silver.
Gold and silver prices fell on September 21 as renewed tensions between the US and Iran increased concerns about inflation and possible further interest-rate hikes. A fall in crude oil prices, however, provided some support to bullion markets.
On the Multi-Commodity Exchange (MCX), October gold futures were trading at Rs 1,53,494 per 10 grams, down Rs 887, or 0.57%. The contract had earlier fallen by as much as Rs 1,331, or 0.86%, to Rs 1,53,050.
December silver futures were quoted at Rs 2,40,400 per kg, down Rs 1,203, or 0.50%. Silver had earlier declined by as much as Rs 2,553, or 1%, to Rs 2,39,050.
Why Gold Prices Fell
The decline came after a recent rally in precious metals, leading some investors to book profits.
higher US Treasury yields, a stronger dollar and expectations of further US Federal Reserve rate hikes were weighing on gold and silver.
Although the latest 25-basis-point rate hike was largely expected by markets, concerns about another possible hike have made investors more cautious.
US-Iran Tensions Add to Market Uncertainty
Fresh tensions in Yemen have also increased geopolitical concerns. Houthi forces, which are backed by Iran, have taken positions near the Babel-Mandeb Strait, an important shipping route.
The Houthis have launched missile and drone attacks towards Saudi Arabia, including targets linked to energy infrastructure. Saudi Arabia has responded with strikes on Houthi positions.
The developments are part of the wider confrontation involving the US and Iran. Iran’s Revolutionary Guards have warned of attacks on additional targets and the use of new weapons if the US launches another strike.While tensions remain high, the US and Iran have so far avoided a return to full-scale fighting.
Gold, Silver Prices Fall As US-Iran Tensions Raise Rate Hike Concerns
One Year Of Brilliance: Sonani Jewels Marks Its First Store Anniversary, Carrying Forward The Legacy Of Sonani Industries
SCS Global Ending “Sustainably Rated” Certificates For Diamonds, Gems
-
JB Insights21 hours agoThe New Jewellery Shopper: Why Trust Is Becoming The New Retail Currency
-
National News20 hours agoGJEPC Hosts UK Trade Interaction In Kolkata To Boost Exports
-
National News3 minutes agoGold, Silver Prices Fall As US-Iran Tensions Raise Rate Hike Concerns
-
International News20 hours agoChina’s Gold Jewellery Consumption Slumps 34% As Jewellers Look To India and Middle East – WGC
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.