The newly issued 42,43,312 employee stock options are valued at approximately Rs 245 crore. Of this, Rs 92.6 crore has been allocated to the company’s Chief Operating Officer, Sudeep Nagar. Valuations are based on the company’s recent pre-IPO funding round
New Delhi: Omnichannel jewellery retailer Bluestone has expanded its existing Employee Stock Ownership Plan (ESOP) by adding 42,43,312 more employee stock options for its staffers. With this addition, the company’s total ESOP pool now stands at 1,17,27,642 stock options, according to regulatory filings accessed via the Registrar of Companies (RoC).
As per estimates, the newly issued ESOP options are valued at approximately Rs 245 crore. Of this, Rs 92.6 crore has been allocated to the company’s Chief Operating Officer, Sudeep Nagar.
Following this expansion, the total value of Bluestone’s ESOP pool is now estimated at Rs 678 crore. These valuations are based on Bluestone’s most recent funding round, which raised around Rs 900 crore in a pre-IPO funding led by global consumer Internet group Prosus, which currently holds a 4.43% stake in Bluestone, valued at $42 million.Prosus currently values Bluestone at $950 million.
According to an Economic Times report,Bluestone is expected to achieve unicorn status with a valuation of $1.2 billion.
In December 2024, Bluestone had filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), detailing plans for an Initial Public Offering (IPO). The offering includes a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore shares. This will allow a complete exit for early investors such as Samma Capital, IvyCap Ventures and Kalaari Capital.
BlueStone launched its flagship brand in 2011 and has since built a presence through a digital-first, omni-channel model. It operates 260+ stores across 86 cities and 26 States and Union Territories. It also reaches customers through its website, mobile app and social media channels.
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