Advent International, a prominent US-based private equity firm, is reportedly on the verge of acquiring a majority stake in Orra Fine Jewellery, which is currently owned by Rosy Blue Group, one of India’s leading diamond manufacturers and retailers. The deal, which could value Orra at between Rs 1,500-1,750 crore (roughly $174-203 million), comes as investor interest in the jewellery retail sector heats up.
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Sources close to the matter reveal that Advent has been in exclusive talks with Orra for several months, with the buyout firm poised to secure a controlling stake of 51-75%. Under the terms of the deal, Orra’s Managing Director, Dipu Mehta, will retain a minority stake, while the private equity fund will take over the company’s management and voting rights, marking a significant shift in control. There are also plans for Orra to go public in the near future.
The negotiations have now entered the final stages, with the deal’s documentation nearly complete, and an official announcement expected soon, according to industry insiders.
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Founded in 1888 and known for its design hubs in Antwerp, Tokyo, New York, Hong Kong, and India, Orra Fine Jewellery was established in 2004 to offer a range of diamond, gold, and platinum jewellery through both physical and online stores. The company has been looking for investment partners to help expand its presence both within India and internationally, especially in light of growing competition from new-age brands and the rising popularity of lab-grown diamonds.
