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BlueStone, the omnichannel jewellery retailer, is gearing up for a potential initial public offering (IPO) to raise approximately Rs 2,000 crore. The company, backed by prominent investors like Ratan Tata and Accel, is seeking pitches from investment bankers to underwrite and market the IPO. The offering is likely to involve diluting a 10-15% stake through a combination of fresh share issuance and an offer for sale by existing investors.
Founded in 2011, BlueStone has established itself as the second-largest omnichannel jewellery retailer in India, behind only CaratLane. The company has demonstrated strong growth, with operating revenue increasing 67% to Rs 771 crore for the fiscal year ended March 2023. BlueStone has also expanded its offline presence significantly, now operating over 180 stores across the country.
The IPO plans come after BlueStone postponed its earlier intention to go public in 2022, opting instead to raise funds from private equity firms. In recent funding rounds, the company secured Rs 550 crore at a valuation of around $440 million, attracting investments from notable figures such as Nikhil Kamath, Ranjan Pai, and Deepinder Goyal.
Market conditions and investor sentiment toward new-age companies will likely play a crucial role in determining the timing and success of BlueStone's potential IPO. The company's ability to demonstrate profitability and sustainable growth in the competitive jewellery market will be key factors for potential investors to consider.
As BlueStone moves forward with its IPO preparations, the company joins a growing list of venture-backed startups eyeing public listings, signaling renewed interest in the Indian IPO market for new-age firms.
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While BlueStone's IPO prospects remain uncertain, investors eager to gain exposure to the jewelry e-commerce sector don't have to wait. At Linqto, we offer members access to interests in promising pre-IPO private companies, including potential leaders in the e-commerce and luxury goods industries. Our platform allows you to diversify your portfolio with lower minimum investments, potentially benefiting from the growth of emerging market leaders before they go public.
1 - The Times of India - Jewellery retailer Bluestone is in talks with Peak XV Partners, Steadview Capital, and Think Investments for a $100 million pre-IPO round. The investment is expected to value Bluestone at around $900 million pre-money.
2 - The Times of India - Bluestone is in talks for a ₹830 crore investment from Peak XV Partners and Steadview Capital, aiming for a ₹7,500 crore valuation pre-IPO.
3 - The Times of India - The startup is seeking pitches from investment bankers to underwrite and market the IPO that is likely to involve diluting a 10-15% stake, comprising a fresh issue of shares and an offer for sale (OFS), they said.
4 - The Times of India - The startup is seeking pitches from investment bankers to underwrite and market the IPO that is likely to involve diluting a 10-15% stake, comprising a fresh issue of shares and an offer for sale (OFS), they said.
5 - The Times of India - Jewellery retailer Bluestone is in talks with Peak XV Partners, Steadview Capital, and Think Investments for a $100 million pre-IPO round. The investment is expected to value Bluestone at around $900 million pre-money.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
