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 and Silver Surge On U.S. Treasury Debt Buybacks
Front-Month Gold Futures Traded Higher, Hitting Their Strongest Level In Three Months As Debt-Market Dynamics Spurred Safe-Haven and Inflation-Hedge Buying.
On the Multi Commodity Exchange (MCX), gold futures were trading near Rs 1,63,150 per 10 gram while silver futures were around Rs 2,45,700 per kg.
Gold futures opened higher on MCX. The benchmark October gold contract opened at Rs 1,63,202 per 10 gram, up Rs 320 from the previous close of Rs 1,62,882.The contract was trading at Rs 1,63,136, up Rs 254. During the session, it touched a high of Rs 1,63,202 and a low of Rs 1,62,021. Gold futures had touched their highest level of the year at Rs 1,80,779.
Silver futures also opened higher. The benchmark September silver contract on MCX opened at Rs 2,45,583 per kg, up Rs 1,456 from the previous close of Rs 2,44,127.
Gold and silver futures advanced Wednesday, lifted by a surge in bullion prices to a three-month peak following an unexpected move by the U.S. Treasury to expand buybacks of long-term government debt.
The announcement triggered a pullback in benchmark yields, bolstering investor appetite for non-yielding precious metals across international markets.
Precious Metals Summary
- Gold Advances: Front-month gold futures traded higher, hitting their strongest level in three months as debt-market dynamics spurred safe-haven and inflation-hedge buying.
- Silver Tracks Higher: Silver futures followed suit, posting solid gains in tandem with bullion amid broad dollar softening.
- Global Market Strength: Spot and derivative contracts across major overseas exchanges remained firmly in positive territory, supported by shifting interest-rate expectations.
Gold and Silver Surge On U.S. Treasury Debt Buybacks
GJEPC Inaugurates 13th India Rough Gemstones Sourcing Show In Jaipur
CaratLane Puts A Playful Spin On Sibling Love With Its Latest Raksha Bandhan Campaign Featuring Ashlesha Thakur
CaratLane Puts A Playful Spin On Sibling Love With Its Latest Raksha Bandhan Campaign Featuring Ashlesha Thakur
Gold and Silver Surge On U.S. Treasury Debt Buybacks
GJEPC Inaugurates 13th India Rough Gemstones Sourcing Show In Jaipur
-
National News3 hours agoCaratLane Puts A Playful Spin On Sibling Love With Its Latest Raksha Bandhan Campaign Featuring Ashlesha Thakur
-
National News46 minutes agoGold and Silver Surge On U.S. Treasury Debt Buybacks
-
National News1 hour agoGJEPC Inaugurates 13th India Rough Gemstones Sourcing Show In Jaipur
-
International News4 hours agoBangkok Gems & Jewelry Fair: Where Asia’s Gems and Jewellery Industry Connects
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.