Multiples nears $80-100M stake in jewellery startup Giva at ₹6,000 crore value
What's the deal? Private equity firm MultiplesDealroom has a profile for this one. Try Dealroom → has signed an exclusive agreement to buy a stake worth $80-100 million in Bengaluru-based jewellery startup Giva, two people familiar with the matter told Mint. The deal values Giva at about ₹6,000 crore and mixes primary and secondary transactions, with a close expected in the coming weeks.
What's the endgame? Primary capital will fund new stores, wider inventory lines, and stronger manufacturing, including in the lab-grown diamond segment. Founded in 2019 by Ishendra Agarwal and Nikita Prasad, Giva sells sterling silver, gold, and lab-grown diamond jewellery across more than 240 stores.
Giva plans to open up to 150 more outlets in 2026, focused on tier-II cities where demand has been strong.
Why now? The move follows June 2026's ₹530 crore Series C, led by CreaegisDealroom has a profile for this one. Try Dealroom →, that valued Giva at about ₹4,800 crore. Some early backers like A91 PartnersDealroom has a profile for this one. Try Dealroom → and Sixth SenseDealroom has a profile for this one. Try Dealroom → are likely to take partial or full exits in the new deal.
What's the market? India's lab-grown diamond segment was valued at $300-350 million in 2024 and is expected to grow at a 15% compound annual growth rate over the next decade, according to Redseer. Giva competes with Bluestone, CaratLane, and Melorra in the organised jewellery market.
The signal: The bidding — Mint earlier reported TPG and Sofina were also in talks — shows how sharply private equity is chasing India's organised jewellery boom, particularly lab-grown diamonds now moving from fashion buys into gifting, everyday wear, and bridal.
Read more: Mint
