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Bluestone secures debt ahead of IPO
Entrackr
·
2m ago
Medial
Omnichannel jewellery retailer Bluestone has raised Rs 40 crore (approximately $4.7 million) in debt funding, led by BlackSoil with participation from Caspian Impact Investments, ahead of its planned initial public offering (IPO). The board at Bluestone allotted 800 non-convertible debentures at an issue price of Rs 5,00,000 each to raise the aforementioned sum, according to its regulatory filing with the Registrar of Companies (RoC). Blacksoil led the debt round with Rs 30 crore investment ($3.5 million) while Caspian Impact Investments participated with Rs 10 crore. Recently, in December 2024, Bluestone filed a draft red herring prospectus (DRHP) with SEBI for an IPO, which consists of a fresh issue of equity shares up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore equity shares to provide a complete exit to Samma Capital, Ivycap Ventures, and Kalaari Capital. Founded in 2011, the omnichannel jewellery brand BlueStone specializes in high-value jewellery, offering a range of gold and diamond rings, pendants, chains, and earrings through its retail stores and online platform. According to the DRHP, it operates over 203 stores across 86 cities. According to startup data intelligence platform TheKredible, BlueStone has raised approximately $262 million across multiple funding rounds, including a Rs 900 crore pre-IPO round led by Prosus, out of which Rs 300 crore is secondary in August last year. In FY24, BlueStone recorded a 64% year-on-year increase in revenue, rising to Rs 1,266 crore from Rs 771 crore in FY23. During the same period, the company also narrowed its losses by 15%, reducing them to Rs 142 crore in FY24.
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BlueStone To Raise $16.5 Mn From Innoven Capital, Others
Inc42
·
1y ago
Medial
Omnichannel jewelry startup BlueStone is seeking to raise about $16.5 million in a combination of debt and equity funding. The debt portion, estimated at around $12 million, will be raised from Innoven Capital, while the equity portion of about $4.5 million will come from investors like Ashwin Kedia and Sankar Bora. BlueStone plans to use the funds to support its operations and expansion plans. This follows the recent debt funding of $9 million that the startup received from Trifecta Capital. BlueStone is also reportedly considering a public listing and aims to raise about $265 million through its proposed IPO.
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BlueStone Jewellery raises Rs 693 crore from anchor investors ahead of IPO
Economic Times
·
10h ago
Medial
BlueStone Jewellery and Lifestyle raised over Rs 693 crore from anchor investors ahead of its IPO. The Bengaluru-based company, known for its "BlueStone" brand, aims to use the fresh issue's proceeds for working capital and expenses. The IPO, priced between Rs 492 and Rs 517 per share, involves a fresh issue of Rs 820 crore and an offer for sale of Rs 720.65 crore. Institutional investors include SBI Life, Goldman Sachs, and others.
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Exclusive: BlueStone To Raise $9 Mn Debt Funding From Trifecta Capital
Inc42
·
1y ago
Medial
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.
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Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant
Entrackr
·
1m ago
Medial
Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant Omnichannel jewellery retailer Bluestone has expanded its existing ESOP plan to $80 million by adding additional employee stock options for its employees. The board at Bluestone has passed a resolution for approval to add 42,43,312 employee stock options to its existing plan, bringing the total ESOP pool to 1,17,27,642 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are worth around Rs 245 crore or around $29 million. Out of the newly added stock options, Rs 92.6 crore ($11 million) will be granted to the company’s Chief Operating Officer (COO), Sudeep Nagar. This addition brings the total value of Bluestone’s ESOP pool to Rs 678 crore or around $80 million. Notably, these valuations are based on the company's last funding round, where it raised around Rs 900 crore pre-IPO round led by Prosus, out of which Rs 300 crore is secondary. Ahead of Bluestone’s IPO, Global consumer internet group Prosus values the company at $950 million, just shy of unicorn status ahead of its IPO. Prosus has valued its stake in BlueStone at $42 million, as per its latest annual report. The stake, held through its fund MIH Investments One B.V., represents a 4.43% ownership in the jewellery brand. As per ET report, Bluestone is all set to join the unicorn status with secondary transactions worth Rs 300-350 crore by private wealth management arms of 360 One and Centrum Wealth. This will value the company at $1.2 billion. In December 2024, Bluestone filed its draft red herring prospectus (DRHP) with SEBI for an IPO, comprising a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore shares, allowing a full exit for Samma Capital, IvyCap Ventures, and Kalaari Capital. Founded in 2011, omnichannel jewellery brand BlueStone offers high-value gold and diamond jewellery, including rings, pendants, chains, and earrings, through its retail stores and online platform. As per its DRHP, the company operates over 203 stores across 86 cities. BlueStone has raised around $262 million across multiple funding rounds from investors such as Accel, Prosus, Peak XV Partners, 360 One, Kalaari Capital, and others, according to startup data intelligence platform TheKredible. In FY24, BlueStone’s revenue grew 64% year-on-year to Rs 1,266 crore, up from Rs 771 crore in FY23. The company also trimmed its losses by 15% during the same period, bringing them down to Rs 142 crore.
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Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024
Entrackr
·
1d ago
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.
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TAC Security Secures INR 8.55 Cr From Anchor Investors Ahead Of IPO
Inc42
·
1y ago
Medial
Cybersecurity startup TAC Security, also known as TAC Infosec, has raised INR 8.55 crore through an anchor book issue ahead of its upcoming initial public offering (IPO). The IPO consists of a fresh issue of 28,29,600 equity shares and is expected to raise about INR 29.9 crore at the upper end of the price band. TAC Security plans to use the funds for human resources and product development, as well as expanding its US-based entity. The IPO is open for subscription from March 27 to April 2.
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Jewellery retailer Bluestone plans to raise Rs 1,000 crore in fresh capital
Economic Times
·
8m ago
Medial
Indian jewelry retailer, Bluestone, has received approval from its board for an initial public offering (IPO) to raise Rs 1,000 crore in fresh capital. The company is expected to file the draft red herring prospectus next week. The IPO proceeds will be used primarily for offline store expansion. Bluestone recently converted into a public company and plans to divest around 15% of its stake through the IPO. The founder and CEO, Gaurav Singh Kushwaha, has purchased shares worth Rs 75 crore to meet the minimum promoter contribution requirement. The IPO valuation is estimated to be around Rs 12,000-13,000 crore.
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Exclusive: IPO-bound Bluestone raises Rs 100 Cr debt from Neo Markets
Entrackr
·
1y ago
Medial
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).
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Bluestone Snags INR 900 Cr From Peak XV, Prosus, Others In Pre-IPO Funding
Inc42
·
11m ago
Medial
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.
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Knowledge Realty REIT raises Rs 1620 crore from anchor investors ahead of IPO; Jhunjhunwala among investors
Economic Times
·
4d ago
Medial
Knowledge Realty Trust REIT has raised Rs 1,620 crore from anchor investors ahead of its IPO, with investors including LIC, Jhunjhunwala Trust, and others. The IPO, set to open for public subscription, aims to raise Rs 4,800 crore through a fresh issuance. The funds will primarily repay existing debt. This marks the first REIT IPO under Sebi's new regulations. The sponsors include Sattva Developers, with Axis Trustee and Knowledge Realty Office Management Services managing the issue.
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