National News
Shraddha Kapoor-Backed Palmonas Raises ₹55 Cr in Series A to Fuel Nationwide Retail Expansion
Pune-based demi-fine jewellery brand Palmonas has raised ₹55 crore in its Series A funding round, led by Vertex Ventures Southeast Asia and India, a subsidiary of Temasek.
This marks the company’s first institutional fundraise, aimed primarily at scaling its offline footprint across India.
With 25 stores already operating in metro and tier-2 cities, Palmonas now plans to launch 100 company-owned outlets, with a focus on key markets such as Mumbai, Delhi, Bengaluru, Hyderabad, and Pune. The expansion strategy will also explore emerging cities like Aurangabad and Bhagalpur, with 60% of the stores located in malls, 40% on high streets, and a few in airports.
The new capital will also support team expansion and product innovation, particularly in the nine-carat gold segment paired with lab-grown diamonds—a fast-growing category amid surging gold prices and new hallmarking norms.
Palmonas has shown steady financial growth, with revenue increasing from ₹3.83 crore in FY23 to ₹5.38 crore in FY24, though it reported a net loss of ₹1.24 crore.
Prior to this round, Palmonas had raised about ₹7 crore from angel investors and its appearance on Shark Tank India, where it secured investment from Namita Thapar (Emcure Pharmaceuticals) and Ritesh Agarwal (OYO).
The funding comes at a time of increased investor interest in jewellery startups, particularly those innovating in lab-grown and demi-fine segments. Competitors like Aukera, True Diamond, Amama, and Coluxe have also raised capital recently. Meanwhile, larger players such as GIVA, Lalithaa Jewellery Mart, and BlueStone are tapping into the public and private markets to scale operations.
National News
PNG Jewellers Celebrates Shravan With The Return Of Its Signature Mangalsutra Mahotsav
From Timeless Gold To Contemporary Diamond Designs, The Annual Festival Offers An Extensive Collection Of Mangalsutras That Blend Tradition With Everyday Elegance
Reinforcing its commitment to celebrating one of India’s most cherished symbols of marriage, PNG Jewellers has announced the return of its much-awaited Mangalsutra Mahotsav, to be held from 13 August to 13 September 2026 across all PNG Jewellers stores in India. The annual festival showcases the brand’s widest-ever collection of mangalsutras, thoughtfully curated to suit the evolving preferences of Indian women while honouring the timeless significance of the ornament.



Over the years, Mangalsutra Mahotsav has become one of PNG Jewellers’ marquee annual initiatives, offering customers an extensive variety of traditional, contemporary and lightweight designs that seamlessly complement both festive occasions and everyday wear. This year’s collection reflects changing consumer preferences, featuring elegant gold mangalsutras, solitaire-inspired diamond styles, minimalist daily wear designs, and statement pieces that celebrate individuality alongside tradition.
Designed for married women of all ages, the festival also caters to husbands and families looking to gift a meaningful piece of jewellery during the auspicious month of Shravan. With an emphasis on affordability without compromising on craftsmanship, the Mahotsav enables customers to discover designs that suit every style, personality and budget.
As part of the festival, customers can avail themselves of Mangalsutra jewellery with making charges starting from just 7.99% for a limited period, valid until 13th September 2026. The exclusive offering brings together timeless design and craftsmanship, making it an ideal occasion to celebrate the enduring symbol of love, tradition and commitment.
Commenting on the occasion, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“Mangalsutra has always held deep emotional significance, but today’s women are redefining how they wear and celebrate it. At PNG Jewellers, our endeavour has been to preserve its cultural essence while introducing designs that complement contemporary lifestyles. Through Mangalsutra Mahotsav, we continue to offer one of the country’s most extensive collections, ensuring every woman finds a design that reflects her personality, whether rooted in tradition or inspired by modern elegance.This annual festival is our way of celebrating both heritage and self-expression.”
Backed by nearly two centuries of trust and craftsmanship, PNG Jewellers continues to innovate across categories while remaining deeply connected to India’s cultural traditions. Through initiatives such as Mangalsutra Mahotsav, the brand reaffirms its commitment to delivering exceptional design, unmatched variety and meaningful value to customers across its growing retail network.
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