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Economic Times
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IPO-bound BlueStone geared for unicorn tag
- Wealth management arms of 360 One and Centrum Wealth are facilitating secondary deals valued at Rs 300–350 crore for BlueStone ahead of its IPO, valuing the company at Rs 10,500 crore ($1.2 billion).
- RB Investments will exit BlueStone through the deals with an expected return of 10–12x on its investment; it had backed the company between 2016 and 2019.
- Interest from investors led to the secondary deals, with BlueStone expected to finalize IPO pricing soon.
- Private wealth managers are pooling investments for clients, often including family offices and high net worth individuals, before public issues.
- BlueStone's IPO includes a fresh capital raise of Rs 1,000 crore and an offer-for-sale component involving 24 million shares from existing investors.
- BlueStone closed a funding round worth Rs 900 crore in August 2024 and raised Rs 40 crore in debt in May 2025.
- Investors have shown interest in the jewellery sector, following Tata Group's acquisition of CaratLane and Giva's talks for a financing round.
- BlueStone reported Rs 1,266 crore in revenue in fiscal 2024, a 64% increase over the previous year, with a net loss of Rs 142 crore in that fiscal year.
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