TPG, Sofina, Multiples Near $100 Million Giva Stake at ₹6,000 Crore Valuation

1 articles · Updated · Mint · Jul 14

$80-100 million is set to be invested in Giva by TPG, Sofina and Multiples, with talks in the final stage after an intense bidding process, people familiar with the matter said.
The round would value the jewellery brand at about ₹6,000 crore and combine primary and secondary capital, funding expansion while giving some early backers a partial or full exit.
Fresh funds are expected to support new stores, broader inventory and stronger manufacturing as Giva pushes beyond its 240-store network and plans up to 150 more outlets this year.
Giva raised ₹530 crore in June at about ₹4,800 crore, and the latest talks come as FY25 revenue jumped 89% to ₹518 crore even as losses widened to ₹72 crore.
The fundraising is riding India's fast-growing lab-grown diamond market, estimated at $300-350 million in 2024 and projected to expand at a 15% CAGR over the next decade.