Giva, a silver jewellery business that has recently expanded into lab-grown diamonds, is in talks with private equity firm Creaegis to raise $80-100 million at a valuation of $470-500 million. This valuation is significantly higher than its previous round just two months ago, indicating investor interest in new-age jewellery businesses.
Giva, which has an annual revenue run rate of Rs 700 crore, reported Rs 280 crore in revenue and a loss of Rs 59 crore in fiscal 2024. The company intends to continue expanding its retail footprint, with over 160 outlets in India and expects to open 100 more each year. Over half of its sales originate from its website, with an increasing emphasis on lab-grown diamonds.
Meanwhile, Bluestone, another significant participant in the sector, is planning for an IPO with a valuation of Rs 12,000 crore, up 50% from its previous private fundraising. Investors remain optimistic about jewellery firms, particularly following the success of Caratlane‘s acquisition by Tata Group.