🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Bluestone In Talks To Raise INR 830 Cr In Pre-IPO Funding: Report

Inc42 · 1y ago

Bluestone In Talks To Raise INR 830 Cr In Pre-IPO Funding: Report

Bluestone, an omnichannel jewellery brand, is in talks to secure an investment of around INR 830 Cr ($100 Mn) from investors including Peak XV Partners, Steadview Capital, and Think Investments. The funding round is a combination of share sales by early investors and new capital infusion, and is expected to value the company at approximately INR 7,500 Cr ($900 Mn) before the money is invested.

Related News

Peak XV, Steadview to fund Bluestone pre-IPO funding round, jewellery retailer poised to become unicorn

Economic Times

Economic Times · 1y ago

Peak XV, Steadview to fund Bluestone pre-IPO funding round, jewellery retailer poised to become unicorn

Jewellery retailer Bluestone is in talks to secure an investment of approximately Rs 830 crore ($100 million) from Peak XV Partners, Steadview Capital, and Think Investments. The pre-IPO funding would value Bluestone at around Rs 7,500 crore ($900 million) before additional investment. Peak XV is reportedly leading the funding round, with discussions set to conclude soon. Bluestone's offline retail presence and increasing diamond sales have attracted interest from venture funds, following the success of Titan's acquisition of CaratLane. Bluestone is expecting revenues of Rs 2,200 crore for FY25.

Bluestone Snags INR 900 Cr From Peak XV, Prosus, Others In Pre-IPO Funding

Inc42 · 10m ago

Bluestone Snags INR 900 Cr From Peak XV, Prosus, Others In Pre-IPO Funding

Indian online jewellery retailer, Bluestone, has raised INR 812 crore ($112 million) in a pre-IPO funding round. The round saw participation from several investors including Peak XV Partners, Prosus, Steadview Capital, Think Investments, and Pratithi Investments. Of the total funding, INR 600 crore ($82.6 million) is in primary capital infusion, while the remaining amount is from a secondary share sale. Bluestone is expected to file the draft red herring prospectus for its IPO later this year.

BlueStone FY24: Revenue Surpasses INR 1,000 Cr Mark, Loss Narrows 15% To INR 142.2 Cr

Inc42 · 9m ago

BlueStone FY24: Revenue Surpasses INR 1,000 Cr Mark, Loss Narrows 15% To INR 142.2 Cr

Indian jewellery brand BlueStone reported a 64% increase in operating revenue, reaching INR 1,265.8 Cr in FY24. The company attributes this growth to increased revenue from existing stores and a subsequent improvement in margins. Additionally, BlueStone recently raised INR 900 Cr in a pre-IPO round, valuing the company at $970 Mn.

Bluestone may turn unicorn in pre-IPO funding round

Economic Times

Economic Times · 1y ago

Bluestone may turn unicorn in pre-IPO funding round

Indian jewellery retailer Bluestone is in talks to raise approximately $100 million in a pre-IPO round, which could value the company at over $1 billion. Bluestone aims to join the unicorn club after its previous valuation of around $450 million in 2023. The retailer plans to turn profitable by March 2025 and has attracted interest from new and existing investors. Bluestone has been expanding its offline retail presence and reported an operating revenue of INR 788 crore in FY23. The round may also include early investors selling part of their holdings.

Ratan Tata-Backed BlueStone Eyes Unicorn Tag In Pre-IPO Round

Inc42 · 1y ago

Ratan Tata-Backed BlueStone Eyes Unicorn Tag In Pre-IPO Round

BlueStone, a Bengaluru-based startup, has received multiple bids from investors in its pre-IPO round, with some valuing the company at over $1 billion. The company is targeting profitability by March next year and plans to raise INR 2,000 crore through its IPO, which is expected to be launched later this year.

Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital

Inc42 · 1y ago

Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital

BlueStone, an omnichannel jewelry startup, is raising $9 million in debt from venture capital firm Trifecta Capital. The funding will be used for business operations and expansion plans. BlueStone aims to go public and raise approximately INR 2,000 crore through its initial public offering (IPO). The startup offers over 8,000 jewelry designs and competes with CaratLane, Melorra, and GIVA in the market. Its net loss, excluding one-time expenses, increased by 183% to INR 167 crore in FY23, while operating revenue rose by 67% to INR 771 crore.

Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr

Entrackr

Entrackr · 7m ago

Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr

Omnichannel jewellery retailer Bluestone appears close to filing a draft red herring prospectus (DRHP) as it has received the board’s approval for an initial public offering worth Rs 1,000 crore ($120 million) through a mix of fresh issues and offers for sale. According to company filings accessed by Entrackr, the board at Bluestone has passed a special resolution to approve its initial public offer of equity shares amounting to Rs 1,000 crore. The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The utilization of the fresh proceeds to be raised via the IPO will be disclosed in the offer documents, the filings added. Bluestone has also passed a resolution to issue 13,00,000 equity shares to Gaurav Singh Kushwaha, the founder and CEO of the company, to raise Rs 75 crore ($9 million). The fresh investment by Kushwaha is aimed at meeting the minimum capital requirement for promoter shareholders, as mandated by the Issue of Capital and Disclosure Requirements (ICDR) regulations. As of now, Kushwaha’s aggregate shareholding, eligible for computing the minimum promoter contribution requirement for the company’s proposed IPO, stands at 9.15%, according to the filings. In September, Bluestone initiated its pre-IPO round worth Rs 900 crore. According to sources, Bluestone plans to price its IPO shares between Rs 550 -600 each. Data from TheKredible indicates that the company's post-money valuation reached approximately Rs 7,750 crore (around $922 million) excluding ESOP, following its latest private funding round. During the previous fiscal year (FY24), Bluestone reported a 64% year-on-year growth in revenue, reaching Rs 1,266 crore from Rs 771 crore in FY23. Simultaneously, the company managed to reduce its losses by 15%, bringing them down to Rs 142 crore in FY24. Titan-owned CaratLane, a competitor to BlueStone, reported revenue of Rs 3,081 crore in the last fiscal year (FY24). The company remained profitable during the year; however, its profit saw a slight decline, dropping to Rs 79 crore in FY24 from Rs 82 crore in FY23.

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Inc42 · 1y ago

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Amazon India's marketplace business, Amazon Seller Services, has received INR 830 crore ($111 million) from its US parent company. Flipkart's marketplace arm, Flipkart Internet, has also received a cash infusion of around INR 924 crore ($111 million) from its related entities in Singapore. These capital injections come as Flipkart is reportedly seeking to raise $1 billion in funding, with $600 million committed by Walmart. Flipkart's Big Billion Days sale event in October 2023 saw a record-breaking 1.4 billion customers visit. Meanwhile, Amazon Seller Services has received INR 830 crore from its US parent.

Exclusive: IPO-bound Bluestone raises Rs 100 Cr debt from Neo Markets

Entrackr

Entrackr · 1y ago

Exclusive: IPO-bound Bluestone raises Rs 100 Cr debt from Neo Markets

Omnichannel retailer Bluestone has raised Rs 100 crore or $12 million in debt from Neo Markets. This is the third debt investment for the Bengaluru-based company this year. The board at Bluestone has passed a special resolution to issue 10,000 debentures at Rs 1,00,000 each to raise the above-mentioned sum, its regulatory filings sourced from the Registrar of Companies show. The development has come at a time when the Peak XV-backed company reportedly aims to raise $100 million in its pre-IPO round. As per media reports, the pre-IPO funding will be a mix of primary and secondary where the early backers may score hefty returns. The company has raised around $190 million to date including $66 million from Ranjan Pai and others in September last year. According to the startup data intelligence platform TheKredible, Accel is the largest stakeholder amongst investors with 21.2% followed by Kalari Capital which holds 12.35% of the company. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone provides an extensive jewelry collection for both men and women, available through its website and network of offline stores. According to the firm’s website, it operates over 190 stores across 75 cities. Bluestone continued to grow its revenue and narrow losses in the fiscal year ending March 2023. During FY23, the firm achieved 65% year-on-growth and its collection stood at Rs 787 crore while its losses dwindled 87% to Rs 167 crore. It’s yet to file its annual results for FY24. It directly competes with Melorra, Giva, and CaratLane. Titan, which owned 99.64% stake in CaratLane, recently said that it will buy the remaining 0.36% stake of the company for Rs 60.08 crore ($7.2 million).

SoftBank-Backed FirstCry Plans to mop up INR 363 Cr in Pre-IPO placement

Inc42 · 1y ago

SoftBank-Backed FirstCry Plans to mop up INR 363 Cr in Pre-IPO placement

FirstCry, the SoftBank-backed online retail startup, has filed its draft red herring prospectus (DRHP) with SEBI to raise INR 1,816 Cr through fresh issue of shares. The IPO also includes an offer-for-sale (OFS) component allowing existing shareholders to sell up to 5.43 Cr equity shares. Additionally, FirstCry plans to raise INR 363 Cr through a pre-IPO private placement. The funds raised will be used for various purposes including setting up new stores, overseas expansion, and investment in subsidiaries.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

ChatGPT is testing a mysterious n ...

Jack Dorsey working on Bluetooth ...

From 66 to 4: Why Y Combinator is ...

Download the medial app to read full posts, comements and news.