Diamond retail chain ORRA Diamonds is planning to raise Rs 75 crore through the private equity (PE) route to support its retail expansion plans over the next three years. The company will be appointing an investment banker within a month to find out potential investors.

“We would be raising Rs 75 crore from a PE firm. The due diligence to find the investment banker has already started and we will finish the work in a month,” said Vijay Jain, chief operating officer, who holds a 15 per cent stake in the company.

“The equity dilution could be up to 25 per cent. Since the Indian retail opportunity is huge and there is a lot of opportunity to reinvest the money back into the business, the equity infusion will be with a long-term perspective,” said Jain. The company now has 31 exclusive boutiques and plans to add another 21 in the next three years.