Jewellery retailer Bluestone has raised about $12 million (Rs 100 crore) in debt funding from Neo Markets, Entrackr reported.
The board at Bluestone has passed a special resolution to issue 10,000 debentures at Rs 1,00,000 each to raise the above-mentioned sum, the report said.
Bluestone had reportedly been looking to raise $100 million from Peak XV Partners, Steadview Capital and Think Investments before launching an initial public offering (IPO). The company had raised around $66 million from Ranjan Pai and others in September last year. It has raised a total of $190 million to date.
Established in 2011 in Bengaluru, BlueStone manufactures and retails high-value jewellery such as gold, diamonds, and pearls. It sells rings, pendants, chains, and earrings through its retail outlets and website to customers across the country.
According to the firm’s website, it operates over 190 stores across 75 cities.
INDIA DEAL MONITOR
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