Bluestone is a jewellery startup that has successfully secured $12 million in its debt funding round. The  round had participation from the firm’s new and existing investors and was led by Neo Markets. The  startup offers an omnichannel mode of marketing. This company plans to use this investment  combined with the upcoming pre-IPO round to prepare for public listing. The startup plans to use these  fresh proceeds to expand its network, advance its technologies, scale up its operations, and enhance  its platform. 

The board members at the company approved a resolution to allot 10,000 debentures at an issue price  of Rs 1,00,000 each. This jewellery brand is aiming for a larger pre-IPO round and this debut round was  a step towards that goal. ET reports, Bluestone is still negotiating to secure an investment of more  than 100 million USD. The pre-IPO round may have investments from Peak XV partners, Think  investments, and steady view capital. Peak XV partners are more likely to invest $50 million in the  startup. 

The firm aims to get a combination of share sales from its early investors and fresh capital. This is  predicted to make the omnichannel retailer have a pre-money valuation of around 900 million USD.  The company follows an omnichannel approach and offers its services via websites and physical stores.  Bluestone offers 190 physical stores across 75 cities in India. The company aims to raise Rs 2000 crore  through its IPO and go public. The brand is expected to reach profitability by 2025. Bluestone has  secured a total of 190 million USD to date. The company has investors including Accel, Kalaari Capital,  Ratan Tata, Deepinder Goyal, and Nikhil Kamath.  

Accel accounts for 21.2% of the total stake followed by Kalaari Capital with 12.35 percent. The company  reported a 65 percent increase in its revenue to Rs 787 crore while the losses decreased by 87 percent  to Rs 167 crore in FY23. This jewellery brand competes with Giva and CaratLane. Indian Jewellery  market had a total generation of $77 billion in revenue for 2023.  

Conclusion: 

Bluestone is planning for its pre-IPO round and has raised $12 million in its debt funding round as a  part of this goal. The round had participation from the firm’s existing investors and was led by Neo  Markets. These fresh proceeds combined with the upcoming pre-IPO round will help the firm to  prepare for public listing, expand its operation, and enhance its services. The brand is still negotiating  to secure an investment of more than 100 million USD from Peak XV partners, Think investments, and  steady view capital. Peak XV partners are more likely to invest $50 million in the company. The offers 190 physical stores across 75 cities in India.

The firm plans to raise Rs 2000 crore through its IPO and  go public. This investment shows the interest of investors and the market potential of the company.  Peak XV partners are more likely to invest $50 million in the startup. Bluestone aims to get a combination  of share sales from its early investors and fresh capital. The brand competes with other brands including Giva, and CaratLane.