Giva raises ₹975 crore bets on 1,000 stores

Giva closed a $100 million-plus primary-secondary round led by Multiples, with Epiq Capital and Edelweiss Discovery Fund joining. Funds target manufacturing scale-up, working capital and retail expansion from the current 425-plus outlets across India and Sri Lanka. The company grew revenue at over 70% CAGR to ₹865 crore in FY26 and remains EBITDA-negative in single digits.

On the shop floor a new Giva store in a tier-2 mall pulls self-purchase and gifting traffic that once went to local goldsmiths. The till sees higher volume of silver and lab-grown diamond pieces under ₹10,000, while the dark-store or quick-commerce listing of the same SKUs undercuts neighbourhood jewellers on delivery speed.

Giva plans 160 new stores this year on the way to more than 1,000 outlets.

This helps Multiples and existing backers while squeezing unorganised silver sellers and mid-tier chains slow to add lab-grown lines. Tanishq, Kalyan and Malabar gain a sharper design-led rival in everyday wear; pure-play gold players lose share of the light-jewellery basket.

Watch store-open run-rate through FY27 and any profitability guidance in the next filing. Festive gifting window still open; next checkpoint is Q3 store count and offline revenue mix target of 75-80%.