Funding · Commerce & Consumer Brands
Bluestone secures ₹40 crore debt ahead of initial public offering
By Startup Enthusiast ·
- Date
- Company
- BlueStone
- What it does
- Omnichannel fine jewellery retailer
- Kind
- Funding
- Amount
- ₹40 crore
- Stage
- Debt
- Based in
- Bengaluru
- Founded
- 2011
What they do
Bluestone designs, manufactures, and sells fine jewellery through its online portal and extensive network of retail stores across India
What happened
The omnichannel retailer has raised ₹40 crore ($4.8 million) in debt funding by allotting non-convertible debentures [fixed-income instruments that…
Why it matters
This debt financing arrives as the company prepares for its stock market debut, following a draft prospectus filed with market regulators for an initial…
The details
- Fine jewellery retailer Bluestone has secured ₹40 crore ($4.8 million) in a debt financing round from investors Blacksoil and Caspian Impact Investments.
- The board approved the allotment of 800 non-convertible debentures [fixed-income instruments that cannot be converted into equity shares] priced at ₹5 lakh each to complete this transaction.
- Blacksoil contributed ₹30 crore through multiple entities while Caspian Impact Investments participated with ₹10 crore.
- This debt capital injection comes as the company moves forward with plans for an initial public offering in the public markets.
- The startup previously filed draft paperwork with the Securities and Exchange Board of India to raise up to ₹1,000 crore through a fresh issue of shares alongside an offer for sale.
The bigger picture
- Retailers frequently raise short-term or structured debt prior to public market debuts to support working capital requirements and general corporate needs.
- The funding helps strengthen the balance sheet as the firm scales its physical footprint across dozens of cities nationwide.
About the business
- BlueStone operates as an omnichannel fine jewellery brand that sells through physical storefronts and its digital e-commerce website.
- The catalog features thousands of certified designs including gold and diamond rings, earrings, pendants, mangalsutras, bangles, and bracelets.
- Manufacturing is supported by in-house design capabilities, offering items crafted with precious metals and gemstones.
- Customer policies include lifetime exchange and buyback options, alongside a thirty-day money-back guarantee.
- The business generates revenue by fulfilling orders directly to retail consumers through both online checkouts and walk-in store purchases.
What happens next
- Pursue an initial public offering to raise capital from public markets.
The deal
- Type
- Debt
Investors
- Blacksoil (lead) — An alternative credit platform providing debt to growth-stage companies.
- Caspian Impact Investments (participated) — An impact investing firm providing debt and equity capital.
Founders
- Gaurav Singh Kushwaha, Founder and CEO
- Vidya Nataraj, Co-founder
Other articles talking about it
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- Amit Jain joins BlueStone as non-executive director16 September 2026 · People
- BlueStone, SafeGold launch gold monetisation service29 July 2026 · Partnership
- BlueStone reports maiden profit after public market debut24 July 2026 · IPO · Rs 1,540 crore
- BlueStone posts profit as stock rallies on strong growth21 July 2026 · Results
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- BlueStone posts first annual profit in FY2622 June 2026 · Results
- Investors offload BlueStone shares worth ₹242.8 Cr10 June 2026 · Stake sale · ₹242.8 Cr