Jewellery retailer Bluestone has successfully raised Rs.900 crore in a pre-IPO funding round, doubling its valuation to $970 million (approximately Rs.8,100 crore). This strategic infusion of capital sets the stage for the company’s forthcoming initial public offering (IPO), with plans to file a draft red herring prospectus with the stock market regulator later this year.

The funding round attracted prominent investors, including Peak XV Partners, Prosus, Steadview Capital, Think Investments, and Pratithi Investments, the family office of Infosys cofounder Kris Gopalakrishnan. Of the Rs.900 crore raised, Rs.600 crore represents primary capital infusion, while the remaining Rs.300 crore was generated through secondary share sales.

This significant boost in valuation underscores investor confidence in Bluestone’s growth trajectory as it prepares to enter the public markets.