Accel-backed BlueStone to hit the public markets tomorrow

Bengaluru, Aug 18 (PTI) Jewellery brand BlueStone, backed by venture capital firm Accel, is all set to make its stock market debut on Tuesday at a valuation of around USD 850–900 million.

Accel was the first institutional investor in BlueStone, writing the seed cheque in November 2011 at a valuation of USD 10 million, according to a statement. The firm subsequently participated in multiple funding rounds, including Series B, C, D and E, as the company scaled its design-led jewellery business across India.

"From our earliest conversations with Gaurav Singh Kushwaha (founder) in 2011, we believed BlueStone would define how India buys jewellery. Gaurav dared to think full stack, building not just a brand but an entire value chain of design, technology and manufacturing," Prashanth Prakash, partner at Accel, said in the statement.

"Watching this journey culminate in an IPO is both a privilege and a reminder that this is still Day-one in making millions of customers happy,” Prakash added.

A digital-first jewellery brand founded in 2011 by Gaurav Singh Kushwaha, BlueStone pioneered innovations such as high-fidelity 3D rendering, home try-ons, and a tech-driven omnichannel model.

The company also set up one of the country’s largest jewellery manufacturing hubs in Jaipur, giving it complete control over quality and speed.

The IPO will mark a significant milestone for India’s consumer internet sector, with BlueStone joining the ranks of listed digital-first brands that have scaled to national prominence, the statement said. PTI MBI MIN MIN