National News
Bluestone in talks with Peak XV Partners, Steadview Capital Think Investments for Pre-IPO Round
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
The pre-IPO round will combine share sales by early investors with new capital, aiming to value the omnichannel retailer at approximately Rs 7,500 crore ($900 million) before the infusion, as per the report.
Venture capital firm Peak XV Partners will reportedly invest around Rs 415 crore in the round. A source speaking to the Economic Times said, “Peak XV is in talks to lead the funding amid a wider inclination for venture funds to tap domestic brands and offline retailers.”
Further, some family offices via special-purpose vehicles might also reportedly participate in the round. The round is expected to be closed in the next few days.
In September 2023, Bluestone raised $65 million from a group of investors at a valuation of $410 million.
National News
Kalyan Jewellers Reports Strong Performance For Q2 FY2027
Consolidated Revenue Growth In Excess Of 26% Compared To The Same Period.Revenue For India Operations Grew By Approximately 27% Year-Over-Year In Q2 FY2027. This Was Driven By Robust Ground Momentum and A Same-Store-Sales-Growth (SSSG) Of Approximately 20%,
Kalyan Jewellers reported a strong performance for Q2 FY2027, recording consolidated revenue growth in excess of 26% compared to the same period in the previous financial year.
India Operations & Brand Expansion
- Revenue & Sales Growth: Revenue for India operations grew by approximately 27% year-over-year in Q2 FY2027. This was driven by robust ground momentum and a same-store-sales-growth (SSSG) of approximately 20%, despite a high base from the previous year when all nine days of Navratri fell within Q2.
- Regional Launch: In August, the company launched its first regional brand, Akshaya Thanga Maligai (ATM), in Chennai. Following strong initial reception and revenue traction in its first 40+ days, plans are set to launch four additional franchised showrooms under this brand during FY2027—two in Q3 and two in Q4.
- Showroom Expansion: During the quarter, the company opened 12 Kalyan showrooms in India (net addition of 11), 9 Candere showrooms in India, and 1 Kalyan showroom in the UK.
International Performance & Lifestyle Segment
- International Operations: Recorded an 18% revenue growth compared to Q2 FY2026, with the Middle East delivering approximately 12% revenue growth driven entirely by SSSG. International markets accounted for roughly 11% of consolidated revenue during the quarter.
- Candere: The lifestyle jewellery brand posted strong revenue growth of approximately 64% year-over-year.
Asset Divestment & Debt Reduction
- The company completed the sale of one non-core real estate asset for approximately INR 86 crore, with the sale of a second parcel (valued at ~INR 16 crore) expected to close in the ongoing quarter.
- Non-GML debt was brought down to zero during the quarter.
Network Presence & Outlook
- As of September 30, 2026, the company’s global showroom network expanded to 546 locations, comprising 365 Kalyan India, 38 Kalyan Middle East, 2 Kalyan USA, 2 Kalyan UK, and 138 Candere stores.
- Management expressed optimism for the upcoming festive and wedding season, supported by new collections, marketing campaigns, and planned showroom rollouts.
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