Limelight Diamonds, India's leading lab-grown diamond jewellery brand, has successfully raised INR 275 crore in a strategic funding round led by its core promoters, the Bhathwari Group, with participation from key strategic partners in the jewellery industry and several of the company's franchise partners.
Funding Details and Utilization
The capital, raised through a combination of equity and cash consideration, will be used to strengthen vertical integration, expand manufacturing infrastructure, enhance design and innovation capabilities, and accelerate retail expansion across India. Pooja Madhavan, Founder and Managing Director of Limelight Diamonds, stated, "This funding round is a strong validation of Limelight's vision and the growing potential of the lab grown diamond industry in India. At a time when Hon'ble Prime Minister's 'Make in India' vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab grown diamonds present a significant opportunity for India to lead a new-age luxury category globally."
Retail Expansion Plans
Limelight Diamonds confirmed that its retail expansion plans are on track, with aggressive growth planned across metro cities, Tier I, and emerging Tier II markets. The company aims to add 100 stores in 2026 and scale up to 200 stores by 2027 through a mix of company-owned and franchise-operated outlets. Currently, Limelight has over 75 exclusive brand outlets across more than 45 cities, making it the largest retail footprint for lab-grown diamond jewellery in India.
Market Context and Industry Position
The funding comes amid growing consumer interest in lab-grown diamonds globally, driven by evolving preferences, value-conscious luxury consumption, sustainability considerations, and increasing acceptance among younger consumers. Limelight Diamonds positions itself as a pioneer in building the lab-grown diamond category in India, specializing in pure CVD lab-grown diamonds. The company believes the sector aligns with India's ambition to become a global manufacturing and export hub under the 'Make in India' initiative.
BSC Advisors served as the financial advisor for this fundraising. The company's collections include solitaires, everyday fine jewellery, and statement pieces, catering to modern Indian consumers.
