SUMMARY
Sources said that the two sides were still negotiating the valuation, adding that the deal size could change as discussions move forward
Melorra is said to have held talks with multiple buyers for a potential acquisition in recent months as reports recently surfaced that the company had stopped paying salaries
Backed by the likes of Lightbox, Norwest Ventures, 100Unicorns and Value Quest, Melorra has raised more than $88 Mn in funding to date
Listed jewellery retailer Senco Gold is reportedly in talks to acquire “struggling” online jewellery brand Melorra for INR 40 Cr to INR 50 Cr.
Sources told Livemint that the valuation has yet to be finalised and the deal size could also change. Another source reportedly said that due diligence is currently underway and the transaction would materialise upon “satisfactory completion of the process”.
As per the report,…
