Singapore based- Nalanda Capital has purchased 19.9% stake in Vaibhav Gems Ltd., a leading coloured gemstone exporter in India. The purchase was through Nalanda’s India Fund. The deal is valued as 14.9% shares of Vaibhav Gems in the form of Global Depository receipts and 5% through warrants, making the entire deal worth US $35 million, if warrants are executed. Nalanda Capital Pte. Ltd. will be represented by Nalanda Capital Founder and Manager Pulak Prasad on the VGL Board.