Ace Indian Investor Ashish Kacholia took a significant stake in Purple Jewels Private Limited, promoted by Nitin Jain, headquartered in Bangalore.

Purple Jewels is one of the most innovative manufacturers of gold temple jewellery, gold idols and artefacts. Purple Jewels recently acquired Suman Silver which is a specialized silver idols and pooja article manufacturer. Purple Jewels is now the leading manufacturer of high-end silver artefacts and idols, silver jewellery and silver pooja items.

With a strong client base like Titan, GRT, Kalyan, Joy Alukkas, Malabar Gold & Diamonds, PN Gadgil and other corporates and other stand alone jewellery stores across India, Purple Jewels has a great reach in the country. Purple Jewels is also exporting its products to America and Middle East and working towards increasing more of its exports.

Commenting on this funding Nitesh Jain, Managing Director, Purple Jewels Pvt Ltd says, "It is a great moment in our journey. To have Ashish Kacholia invest in Purple is a great acknowledgment that we are on the right track. As an industry it is a great time ahead of us. We need to organize, unite and disrupt with innovation and service."

The funds infused will enable Purple Jewels to expand its product range and will help Purple Jewels to post a revenue of Rs 1000 Cr with an EBIDTA of 100Cr.

Purple's first round was lead by Maneesh Parmar and the round by Ashish Kacholia was facilitated by Maneesh Parmar and with able advisory services by Trans Corporate Advisory, a boutique investment firm in Chennai.

Purple Jewels seeks to list by the second half of FY27.

Courtesy : AOJ Desk News