New Delhi: Goldiam International Ltd. has raised Rs 202 crore through a Qualified Institutional Placement (QIP), advised by Monarch Networth Capital, with participation from investors including Morgan Stanley, the company said in a press release on Friday.
The company said the capital will be utilised to expand its consumer-facing lab-grown diamond brand ORIGEM, targeting 70–90 stores across India over the next 18–24 months.
“Our vision is to make diamonds more sustainable, accessible, and aspirational, and this capital will help us build the country’s leading retail franchise in the lab-grown diamond category,” said Anmol Bhansali, Director at Goldiam International.
ORIGEM has opened six stores in the past 10 months.
Goldiam said it maintains a debt-free balance sheet and has returned nearly Rs 200 crore to shareholders through dividends and buybacks over the last five years. On a consolidated basis, the company expects sales and profitability to grow 15–20% this year, supported by its global B2B operations and domestic retail business.
