Jewellery brand Palmonas in talks to raise Rs 200-250 crore from Xponentia: Sources
Looks like Palmonas, the jewellery brand with Shraddha Kapoor's star power, is not just shining in style but also in investor interest. Raising Rs 200-250 crore from Xponentia Capital would triple its valuation from the earlier round, proving that demi-fine jewellery isn't just about shimmer but serious business muscle, especially ahead of key demand seasons like Valentine's Day. It's a classic show of a celebrity-backed brand scaling fast in a niche that combines fashion with daily utility—definitely one to watch.
Palmonas, founded in 2022 by Amol Patwari and Pallavi Mohadikar, with Shraddha Kapoor joining later as co-founder, focuses on surgical stainless steel and sterling silver demi-fine jewellery finished with 18K gold vermeil. After raising Rs 55 crore earlier at around Rs 500-550 crore valuation, the ongoing talks with Xponentia Capital aim to raise Rs 200-250 crore at an estimated valuation of Rs 1,600-1,800 crore. This capitalization is set to help Palmonas aggressively expand its retail footprint and product lines, especially lab-grown diamonds, targeting Gen Z and millennial consumers who favor stylish yet skin-safe jewellery, reflecting a shift in the Indian jewellery market landscape toward digital and demi-fine segments.
