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 Prices Drop Post-Dussehra On Stronger US Dollar
Precious Metals Dip On Strengthening US Dollar, Persistent Global Inflation Concerns, and Shifting Interest Rate Expectations —
Gold and silver prices opened lower on the Multi Commodity Exchange (MCX) on Wednesday following the Dussehra festival, pulled down by a strengthening US dollar, persistent global inflation concerns, and shifting interest rate expectations from the US Federal Reserve.
Gold futures fell by Rs 223 to trade at Rs 1,46,296 per 10 grams on the MCX, mirroring weak sentiment across overseas bullion markets. Silver experienced a sharper decline, tumbling by Rs 1,373 to trade at Rs 2,10,112 per kilogram.
Market Summary
Gold (MCX): Down Rs 223 at Rs 1,46,296 per 10 grams.Silver (MCX): Down Rs 1,373 at Rs 2,10,112 per kilogram.
Global Benchmark: Both metals traded weaker across international exchanges as the US dollar gained strength.
Primary Drivers: A firm US dollar index, sticky global inflation concerns, and hawkish signals surrounding the US Federal Reserve’s rate trajectory continue to exert downward pressure on precious metal valuations post-festive demand.
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National News17 minutes agoGold and Silver Prices Drop Post-Dussehra On Stronger US Dollar
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