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HomeIndia India-Based Bluestone Secures $12 Million Debt Funding

[FUNDING NEWS] India-Based Bluestone Secures $12 Million Debt Funding

Bluestone obtains $12 million from Neo Markets to fund debt, and other $681 million agreements are made in India. Jewelry store Bluestone has raised approximately $12 million (roughly Rs 100 crore) in debt financing from Neo Markets.

Bluestone obtains $12 million from Neo Markets to fund debt, and other $681 million agreements are made in India.

According to the report, the its board of directors has decided to raise the aforementioned amount by the issuance of 10,000 debentures at a face value of Rs 1,00,000 apiece.

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It has been reported that it sought to raise $100 million from Think Investments, Steadview Capital, and Peak XV Partners prior to initiating an initial public offering (IPO). In September of last year, the company raised about $66 million from investors, including Ranjan Pai. To date, it has raised $190 million in total.

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BlueStone, a Bengaluru-based company, was founded in 2011 and produces and sells expensive jewelry made of gold, diamonds, and pearls. Customers from all around the nation can purchase rings, pendants, chains, and earrings from the company’s online and physical stores.

About Bluestone

BlueStone, founded in Bangalore in 2011 by Gaurav Singh Kushwaha, is one of India’s largest digital-first fine jewelry brands. 

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