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Goldiam International Ltd., a diamond jewellery exporter and an emerging retail disruptor in lab‐grown diamonds (LGDs), has raised Rs 202 crore through a Qualified Institutional Placement (QIP), which was facilitated and advised by Monarch Networth Capital with participation from marquee global and domestic funds, including Morgan Stanley. The capital will fuel the expansion of ORIGEM, Goldiam’s consumer-facing LGD jewelry brand in India, supporting the rollout of 70 to 90 stores nationwide over the next 18 to 24 months. The company said the fundraise marks the largest to date in India’s lab-grown diamond retail sector, nearly double the size of the nearest venture capital–backed competitors.
“This fundraise marks a defining moment in Goldiam’s journey. With the support of marquee investors, we are now well-positioned to accelerate ORIGEM’s expansion and bring lab-grown diamond jewellery to a much wider audience across India. 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.” Anmol Bhansali, Director at Goldiam International Ltd., said.
ORIGEM has opened six stores in the past 10 months. Backed by a debt-free balance sheet, steady cash flow generation, and a track record of returning nearly Rs 200 crore to shareholders through dividends and buybacks in the last five years, Goldiam said it is positioned for sustainable growth. On a consolidated basis, the company expects 15% to 20% growth in both sales and profitability this year, driven by its global B2B business and fast-scaling Indian B2C retail presence.
About Goldiam
Goldiam has been promoted by Rashesh Manhar Bhansali and Anmol Rashesh Bhansali. Goldiam International Limited started exports of cut and polished diamonds and of plain and studded gold jewellery in 1986.It undertakes jewellery-making in addition to diamond cutting and polishing. It has a state-of-the-art manufacturing facility in Bombay, in an exclusive 100% export-oriented zone. Some of its products are gold and diamond-studded rings, light-weight American cluster rings, cocktail rings, channel set bands, pendants, diamond and colour studded bracelets, earrings, etc.