Bluestone, a prominent omnichannel jewelry brand, is on the verge of securing a significant ₹830 Cr ($100 Mn) investment in its pre-IPO funding round.
The investment is set to come from leading entities including Think Investments, Peak XV Partners, and Steadview Capital. This round, which involves a mix of share sales by early investors and new capital infusion, is expected to value Bluestone at approximately ₹7,500 Cr ($900 Mn) pre-money, as reported by ET.
Peak XV Partners is poised to inject ₹415 Cr ($50 Mn) into Bluestone, underscoring confidence in the brand’s growth trajectory and market position. The funding will comprise both primary and secondary transactions, with participation anticipated from family offices through special purpose vehicles, culminating in a deal closure in the near term.
Bluestone, founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, has distinguished itself with a diverse portfolio of over 8,000 jewelry designs. The company’s strategic evolution has seen COO Sudeep Nagar elevated to co-founder status in recognition of his pivotal role in driving operational excellence.
The Indian jewelry industry, buoyed by substantial revenue figures approaching US$77 Bn in 2023, has positioned Bluestone favorably in comparison to global markets like China, the US, Japan, and Russia.
The upcoming funding round is expected to catapult Bluestone towards its anticipated IPO, signaling robust growth prospects and solidifying its leadership in the domestic jewelry sector.
In conclusion, with the backing of Peak XV Partners and Steadview Capital, Bluestone’s impending pre-IPO funding round represents a pivotal milestone for the brand. The infusion of capital and strategic investor support will not only bolster its valuation but also enhance its market position, paving the way for future expansion and a successful public offering.