Jewellery Brand GIVA Raises 975 Crore Rupees to Fund Retail Expansion
Direct-to-consumer jewellery brand GIVA has secured 975 crore rupees in a funding round led by Multiples Alternate Asset Management to support the opening of 160 new retail locations.
Bengaluru-based jewellery retailer GIVA has raised 975 crore rupees (approximately $103 million) in a funding round led by Multiples Alternate Asset Management, with participation from existing backers Epiq Capital and Edelweiss Discovery Fund. The financing includes both primary and secondary capital, along with an employee stock option buyback. CEO Ishendra Agarwal confirmed the company’s valuation has increased from its previous round, which placed the brand at roughly 4,500 to 4,600 crore rupees.
GIVA reported revenue of 865 crore rupees for the 2026 fiscal year, up from 505 crore rupees in the prior period. Agarwal noted that the firm’s negative EBITDA margins are narrowing as its retail network matures. Established stores have become profitable, helping to offset operating expenses. The company currently operates approximately 425 stores and projects profitability on a net profit basis by fiscal year 2028.
The capital injection will fund the addition of 160 new outlets by fiscal year 2027, with a strategic shift toward Tier II and III cities. Additionally, GIVA intends to bolster its manufacturing capabilities in Jaipur and Mumbai to exert greater control over jewelry finishing and plating. Currently, silver accounts for 60% of revenue, while gold and lab-grown diamonds make up the remainder.
Looking ahead, GIVA is positioning itself for a potential initial public offering within the next three years. The firm’s focus on the lab-grown diamond segment aligns with broader industry trends in India, where the sector is projected to grow significantly over the coming decade.