Gaurav Singh Kushwaha, an IIT Delhi alumnus and former Amazon worker, has scripted one in every of India’s most outstanding entrepreneurial success tales. The founding father of BlueStone Jewelry and Life-style, Kushwaha now instructions a web price of over ₹1,300 crore after the corporate’s inventory market debut this week.
From Amazon to BlueStone
Armed with a pc science diploma from IIT Delhi, Kushwaha started his profession with Amazon however left the tech big in 2011 to pursue a daring thought, an internet jewelry model at a time when e-commerce in India was nonetheless in its infancy. His gamble paid off. BlueStone grew quickly, positioning itself as a challenger to CaratLane, Titan Firm’s jewelry subsidiary backed by Tata Sons.
Web price surge after inventory market debut
On Tuesday, BlueStone made its debut on the Indian inventory exchanges after a ₹1,541 crore IPO that was subscribed 2.72 occasions. Kushwaha, who holds a 17.7% stake within the firm via 2.45 crore shares, noticed his funding worth bounce from ₹117 crore to just about ₹1,340 crore because the inventory climbed over 6% in intraday commerce to the touch ₹548.
The Bengaluru-headquartered firm reported revenues of ₹1,830 crore in FY25, up 40% year-on-year, although losses widened to ₹222 crore resulting from financing prices and ESOP bills. With 275 shops throughout 117 cities, BlueStone has advanced into a significant nationwide participant mixing on-line and offline jewelry retail.
A gathering with Ratan Tata
Kushwaha’s journey additionally introduced him face-to-face with one in every of India’s most revered enterprise leaders. In a 2014 interplay with The Financial Occasions, he recalled his first assembly with Ratan Tata, who left him each nervous and impressed. “I simply didn’t know begin the dialog,” Kushwaha admitted, however Tata’s simplicity shortly put him comfortable.
Tata supplied a single piece of recommendation that stayed with him: give attention to creating worth for purchasers and belief will comply with. This precept, Kushwaha has usually mentioned, formed BlueStone’s progress philosophy.
Taking up Tata’s CaratLane
In the present day, BlueStone stands as one of many largest rivals to Tata-backed CaratLane, proving that new-age entrepreneurs can disrupt even essentially the most conventional sectors. For Kushwaha, the leap from an Amazon engineer to the billionaire founding father of a jewelry powerhouse underlines how India’s startup ecosystem is reshaping age-old industries.
