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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.

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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.

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Aisshpra Gems & Jewels Opens Four Stores in One Day, Takes Network to 20; Targets 30 Stores by March 2028

Four franchise showrooms add approximately 12,000 sq. ft. of retail space, taking the brand’s total retail footprint beyond 90,000 sq. ft.; Bettiah marks its entry into Bihar.

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Aisshpra Gems & Jewels, the jewellery retail brand established in Gorakhpur in 1940, today announced the simultaneous opening of four showrooms in Bahraich, Bettiah, Lucknow and Mirzapur. The milestone takes its operational network from 16 to 20 stores in a single day, with three more stores under construction and a target of 30 operational stores by March 2028.

Each new franchise-operated showroom measures approximately 3,000 sq. ft. Together, the openings add around 12,000 sq. ft. of retail space and take the brand’s overall retail footprint to more than 90,000 sq. ft. The Bettiah opening is Aisshpra’s first in Bihar, where Siwan and Gopalganj are also in its expansion pipeline. The Lucknow launch marks its third showroom in the city.

Jewel Story takes centre stage across all four stores

All four showrooms feature a dedicated store-in-store presence for Jewel Story, Aisshpra’s lifestyle jewellery brand. Designed for teenagers, young adults and customers up to around 40 years of age, Jewel Story focuses on lightweight, wearable, modern jewellery across 9KT to 22KT gold purity. The concept seeks to make jewellery relevant to everyday personal style, alongside Aisshpra’s traditional, bridal and occasion-wear collections.

Leadership on expansion and legacy

Atul Saraf, Director, Aisshpra Gems & Jewels

“Since 1940, our most important achievement has been the trust we have earned across generations. Opening four stores together is a proud milestone, and every new showroom brings the responsibility of preserving that trust.”

Anoop Saraf, Director, Aisshpra Gems & Jewels

“As we enter new markets, Trust, Integrity and Ethics remain our guiding principles. We want customers in every city to experience the same transparency, quality and care that have defined Aisshpra for decades.”

Vaibhav Saraf, Director, Aisshpra Gems & Jewels

“Moving from 16 to 20 stores in one day is a major jump in our network. Our footprint now exceeds 90,000 sq. ft., three additional stores are under construction, and we are working towards 30 stores by March 2028. Bettiah opens the door to Bihar, while our third Lucknow showroom deepens our presence in a key market.”

Saumitra Saraf, Director, Aisshpra Gems & Jewels

“Younger customers increasingly want jewellery that feels contemporary, versatile and easy to wear. Jewel Story brings that proposition to every new showroom, with modern designs spanning 9KT to 22KT.”

Inauguration celebrations and opening offers

The celebrations featured Mouni Roy in Lucknow, Adah Sharma in Bahraich and Ayesha Khan in Mirzapur. The Bettiah inauguration took place in the presence of local dignitaries.

Customers can avail inaugural offers of up to 30% off gold jewellery making charges and diamond value, subject to applicable terms and conditions. Offer validity is to be confirmed.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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