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Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024

EntrackrEntrackr · 2m ago
Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024
Medial

Bluestone Jewellery and Lifestyle facilitated secondary share transactions worth Rs 443 crore between February and September 2024, allowing early investors to partially exit and late-stage institutional funds to enter ahead of its upcoming IPO, according to its Red Herring Prospectus (RHP). Iron Pillar Fund and Kalaari Capital offloaded part of their stake to 360 One, Peak XV, and Steadview Capital via off-market deals. In February 2024, Iron Pillar sold 3.26 lakh shares to 360 One Large Value Fund for Rs 103 crore, valuing Bluestone at Rs 3,149 per share. In September, Kalaari executed two back-to-back secondary sales, where on September 02, it transferred 4.07 lakh shares to Peak XV Partners for Rs 220 crore, and later on September 26, it sold 2.22 lakh shares to Steadview Capital for Rs 120 crore. Both deals were priced at Rs 5,403 per share. These secondary transactions were already disclosed in the company’s DRHP filed in December 2024. Bluestone is reportedly targeting a valuation of around Rs 7,800 crore in its upcoming initial public offering (IPO). In the updated RHP, Bluestone revised its IPO size, where it trimmed the fresh issue to Rs 820 crore from Rs 1,000 crore, and reduced the Offer for Sale to 1.39 crore shares from 2.4 crore shares. Investors including Accel, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal (Hero Enterprise) are part-exiting via the public offer. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone operates 275 stores across over 80 cities and reported Rs 1,770 crore in revenue in FY25, a 40% YoY jump. At the same time, its losses widened 56% to Rs 218 crore. The IPO opens on August 11, with anchor bidding on August 8. Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the issue.

Docon offloads 10% stake in Thyrocare for Rs 668 Cr

EntrackrEntrackr · 3d ago
Docon offloads 10% stake in Thyrocare for Rs 668 Cr
Medial

Docon Technologies Pvt Ltd, a promoter entity of Thyrocare Technologies, has sold 53.33 lakh equity shares representing around 10% of the company’s total paid-up capital through open market transactions on October 24, 2025. The sale was valued at Rs 667.7 crore at an average price of Rs 1,252 per share, according to a stock exchange filing. Following the transaction, Docon’s shareholding in Thyrocare has come down from 71% to 61% and continues to remain a promoter of the diagnostics chain with 3.2 crore shares. The block sale saw strong participation from domestic mutual funds. Among the key buyers were ICICI Prudential Mutual Fund, which purchased 17.49 lakh shares worth Rs 218.9 crore, and Aditya Birla Sun Life Mutual Fund, which picked up 10.33 lakh shares for Rs 129.3 crore. Other prominent investors included HSBC Mutual Fund Midcap Fund (6.66 lakh shares for Rs 83.4 crore), HDFC Mutual Fund (4.44 lakh shares for Rs 55.5 crore), and Eastspring Investments India Consumer Equity Open Limited (3.19 lakh shares for Rs 40 crore). The stake sale comes on the back of leadership transition within the PharmEasy-Thyrocare group. In August 2025, PharmEasy’s co-founder and CEO Siddharth Shah stepped down from his executive role to become the company’s Vice Chairman, while Thyrocare’s chief Rahul Guha was elevated as the new MD and CEO of API Holdings, the parent entity of PharmEasy and Thyrocare. Guha continues to lead Thyrocare alongside his expanded responsibilities at API. Thyrocare recently announced its financial numbers for the second quarter of the ongoing fiscal year FY26, posting a strong performance in the quarter. The company’s revenue from operations grew 22% year-on-year (YoY) to Rs 216.5 crore in Q2 FY26 from Rs 177.36 crore in Q2 FY25. Thyrocare’s profit jumped 81% YoY to Rs 47.9 crore in Q2 FY26, compared to Rs 26.4 crore in the corresponding quarter last year. For the first half of FY26, the company recorded a net profit that grew 71% to Rs 86.1 crore from Rs 50.4 crore in H1 FY25.

Swiggy expands ESOP pool with Rs 150 Cr fresh grant

EntrackrEntrackr · 3m ago
Swiggy expands ESOP pool with Rs 150 Cr fresh grant
Medial

Swiggy expands ESOP pool with Rs 150 Cr fresh grant Food delivery and quick commerce platform Swiggy has rolled out fresh employee stock option (ESOP) grants worth Rs 150 crore ($17.5 million). Swiggy Limited has granted 38.86 lakh stock options under its ESOP 2024 plan, according to filings with the NSE. At the current market price of Rs 385.3 per share, the grant is valued at around Rs 150 crore. As per the disclosure, the stock options have an exercise price of Rs 1 each and convert into one fully paid-up equity share upon vesting. They can be exercised anytime after the vesting period until the company’s liquidation. The development comes a month after, when Swiggy entered the travel concierge and lifestyle management space with a new app called Crew. Entrackr has exclusively reported the development. In April this year, the Bengaluru-based company announced fresh employee stock options under its ESOP plan 2024 for eligible employees worth Rs 443.4 crore (around $52 million). Swiggy’s losses surged 95% year-on-year to Rs 1,081 crore in the fourth quarter of FY25, even as revenue rose 45% to Rs 4,410 crore. For the full fiscal year, the company reported Rs 15,227 crore in revenue. In contrast, rival Zomato remained profitable with Rs 39 crore during the last quarter of the previous fiscal year (Q4FY25), while Zepto narrowed its losses to Rs 1,248 crore in FY24. At the close of trading on Friday (July 11, 2025), Swiggy’s shares were priced at Rs 385.3, and the company had a market capitalization of Rs 96,080 crore (around $11.3 billion).

Peyush Bansal pays Rs 222 Cr to buy back 4.6 Cr shares at steep discount ahead of IPO

EntrackrEntrackr · 3m ago
Peyush Bansal pays Rs 222 Cr to buy back 4.6 Cr shares at steep discount ahead of IPO
Medial

Peyush Bansal pays Rs 222 Cr to buy back 4.6 Cr shares at steep discount ahead of IPO Lenskart’s co-founder and CEO Peyush Bansal has significantly increased his stake in the company through a series of secondary transactions. As per DRHP disclosures reviewed by Entrackr, Bansal acquired over 4.26 crore shares from existing shareholders for a total cash consideration of Rs 222 crore. The off-market transactions were executed between July 18 and July 24, 2025, and involved several institutional and early-stage backers of the company. Among the notable sellers were SoftBank, Kedaara Capital, Avendus, Steadview Capital, and LTR Focus Fund. Even Unilazer Ventures, backed by Ronnie Screwvala, was part of the exit group, selling over 25 lakh shares. SoftBank offloaded the largest chunk, 96 lakh shares, fetching around Rs 49.93 crore from the deal. Kedaara entities cumulatively sold more than 30 lakh shares, while Steadview offloaded 34 lakh shares, raising nearly Rs 17.7 crore. The Rs 52 per share price paid in these transactions is also noteworthy; it indicates a negotiated deal that likely reflects internal valuations rather than public market benchmarks. In response to Entrackr’s queries, a Lenskart spokesperson confirmed the development. However, the company did not comment on the reasons behind the deep discount. These transactions significantly bolster Peyush Bansal’s holding ahead of Lenskart’s IPO, which includes a fresh issue of Rs 2,150 crore and an offer for sale of 13.2 crore shares. While Bansal himself is also offering 2.05 crore shares as part of the OFS, his recent acquisitions signal a strong vote of confidence in the company’s valuation and growth trajectory. The secondary deals come at a time when the eyewear major is preparing for its public market debut, backed by marquee names like Temasek, ADIA, and TPG. In FY25, Lenskart reported a 22.5% jump in revenue to Rs 6,652 crore and turned profitable with a Rs 297 crore PAT.

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