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
GJEPC Seminar In Jammu Focuses on Export Opportunities For MSMEs
Seminar Aimed At Helping Jewellers Tap Global Export Opportunities, Highlighting The Role Of IIJS Bharat In Expanding Business Prospects
GJEPC, in association with Swarnkar Sangh Jammu, organised a seminar on “Export Opportunities for MSMEs and IIJS Retail Connect”, bringing together more than 150 members of the jewellery trade from across Jammu district. The seminar held on 24 July aimed at helping jewellers tap global export opportunities while highlighting the role of IIJS Bharat in expanding business prospects and strengthening India’s gems and jewellery industry.
Mansukh Kothari, Convenor – Events, GJEPC, outlined how IIJS Bharat has enabled manufacturers, retailers and exporters to build professional networks, discover new markets, and generate business opportunities through direct engagement with domestic and international buyers.
Mithilesh Pandey, Senior Director, GJEPC, presented an overview of the Council’s initiatives to strengthen India’s gem and jewellery export ecosystem. He guided participants through the process of establishing an export business, including obtaining an Import Export Code (IEC), GST registration and fulfilling other statutory requirements.
Pandey also highlighted GJEPC’s export promotion initiatives, including IJEX, Dubai, e-commerce opportunities through platforms such as eBay, participation in international trade exhibitions and access to overseas markets. He underscored the growing importance of FTAs in enhancing India’s export competitiveness and outlined the various MSME schemes and government support available to industry members.
Naheed Sunke, Assistant Director, GJEPC, briefed participants on the benefits available to jewellers attending IIJS Bharat through their association, including special discounts on visitor registrations. She also noted that IIJS offers a valuable platform to showcase regional jewellery traditions to a wider audience, adding that Jammu’s distinctive Dogra jewellery has the potential to gain greater national and international visibility through the exhibition as efforts to secure a GI tag continue. The seminar generated strong interest in GJEPC’s membership and trade initiatives. Several participants agreed to become GJEPC members, while many others expressed interest in visiting the upcoming IIJS exhibition.
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