Giva, a silver jewellery brand that recently expanded into lab-grown diamonds, is negotiating with private equity fund Creaegis to raise $80-100 million at a valuation between $470-500 million. This valuation marks a significant increase from its previous round just two months ago, highlighting investor interest in new-age jewellery businesses.
Giva, which has an annual revenue run-rate of Rs 700 crore, posted Rs 280 crore in revenue with a loss of Rs 59 crore in fiscal 2024. The company plans to continue expanding its retail footprint, with over 160 stores in India and plans to open 100 more annually. Over 50% of its sales come from its website, with a growing focus on lab-grown diamonds.
Meanwhile, Bluestone, another major player in the sector, is preparing for an IPO at a Rs 12,000 crore valuation, a 50% increase from its last private funding. Investors remain bullish on jewellery businesses, especially with the success of Caratlane’s acquisition by Tata Group.
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