Bluestone, a D2C jewellery retailer, has filed draft papers for its initial public offer (IPO) debut which will include a mix of fresh issues and offer-for-sale.

The company, backed by Accel, Peak XV Partners, and Sunil Kant Munjal, is planning to raise ₹1,000 crore through a combination of fresh equity issuance and an offer-for-sale of 2.39 crore equity shares by investors.

The selling shareholders in the offer-for-sale include Accel India, Saama Capital, Kalaari Capital Partners, IvyCap Ventures Trust, Iron Pillar Fund, and Sunil Kant Munjal, along with other partners from Hero Enterprise Partner Ventures.

Saama Capital II, Kalaari Capital Partners II, Kalaari Capital Partners Opportunity Fund, and IvyCap Ventures Trust – Fund 1 will exit Bluestone Jewellery by selling their entire shareholding.

Recently, the company approved a resolution to issue 13,00,000 equity shares to its founder and CEO, Gaurav Singh Kushwaha, to raise ₹75 crore. In September, Bluestone raised ₹900 crore in a pre-IPO round from Peak XV Partners, Prosus, and Steadview Capital, positioning the company in the unicorn category.

Founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, Bluestone designs, manufactures, and sells fine jewellery, with a presence in over 80 cities and 192 stores. Bluestone reported a revenue of ₹1,265.8 crore in FY24, up from ₹770.7 crore in FY23. Bluestone also narrowed its losses by 15 per cent year-on-year (y-o-y) to ₹142.2 crore in FY24, compared to ₹167.2 crore in FY23, according to data from market intelligence platform Tofler.