Latest news with #KrisGopalakrishnan
Economic Times
4 days ago
- Business
- Economic Times
IPO-bound BlueStone geared for unicorn tag
The private wealth management arms of 360 One and Centrum Wealth are in discussions to facilitate secondary deals amounting to Rs 300–350 crore in the jewellery retailer BlueStone, said people in the know. Both platforms will sell the stakes to their clients ahead of the Bengaluru-based company's public market debut, they transaction will value BlueStone at Rs 10,500 crore ($1.2 billion), about 30% higher than its Rs 8,100 crore valuation from the last funding round in August to one of the people in the know, Singapore-based RB Investments will fully exit BlueStone through the deals. RB Investments, which holds a 2–3% stake in the company, is set to make a 10–12x return on its investment. It backed BlueStone across various stages between 2016 and 2019, investing around Rs 28–30 crore. The Singapore-based family office has also backed Indian companies such as Swiggy, Giva and Rebel Foods.'The round took place because there was interest from certain investor classes to pick a stake prior to the IPO,' one of the persons said. 'BlueStone is soon expected to finalise the pricing for the IPO.' A secondary deal is between existing and incoming investors, and the cash doesn't go into the managers pool investment deals for their clients, which typically include the likes of domestic family offices and high networth individuals (HNIs). These investors are usually added to the capitalisation table prior to a public issue. Private wealth management firms have earlier facilitated pre-IPO deals in companies such as food and grocery delivery firm Swiggy, hospitality platform Oyo, logistics startup Shadowfax and business-to-business (B2B) meat company Captain Fresh. BlueStone filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in December, gaining approval in April. Its IPO includes a fresh capital raise of Rs 1,000 crore and an offer-for-sale (OFS) component of nearly 24 million shares, which will see investors including Accel, Saama Capital, IvyCap Ventures and Kalaari Capital selling their sent to BlueStone founder and CEO Gaurav Singh Kushwaha went unanswered. In response to an emailed query, Centrum Wealth said, 'There may be a few HNI clients who seek exposure, to whom we may facilitate through a market intermediary.'A spokesperson for 360 One said, 'We have no comments on the query.'RB Investments also did not respond. BlueStone had closed a Rs 900-crore funding round—a combination of primary and secondary transactions—in August 2024, which saw the participation of investors such as Peak XV Partners, Prosus, Steadview Capital, Think Investments and Infosys cofounder Kris Gopalakrishnan's family investment office Pratithi Investments. In May this year, BlueStone raised Rs 40 crore in debt from alternative debt platform BlackSoil and Caspian Impact Investments. Over the last few years, investors have turned bullish on the jewellery business. This trend picked up steam after the Tata Group's full acquisition of CaratLane at a valuation of Rs 17,000 crore. The conglomerate had first invested in the startup in 2016, when it was valued at Rs 563 crore. Omnichannel jewellery startup Giva, which specialises in silver products, is also in talks to pick up Rs 450 crore ($53 million) in a financing round led by Creaegis in addition to participation by Premji Invest, Epiq Capital and others. BlueStone closed fiscal 2024 with Rs 1,266 crore in revenue, a 64% jump from the year ago. Its loss during the year contracted to Rs 142 crore in FY24 from Rs 167 crore in fiscal 2023. For the first three months of fiscal 2025, BlueStone reported operating revenue of Rs 348 crore and net loss of Rs 59 crore.
Time of India
4 days ago
- Business
- Time of India
IPO-bound BlueStone geared for unicorn tag
The private wealth management arms of 360 One and Centrum Wealth are in discussions to facilitate secondary deals amounting to Rs 300–350 crore in the jewellery retailer BlueStone , said people in the know. Both platforms will sell the stakes to their clients ahead of the Bengaluru-based company's public market debut, they said. The transaction will value BlueStone at Rs 10,500 crore ($1.2 billion), about 30% higher than its Rs 8,100 crore valuation from the last funding round in August 2024. According to one of the people in the know, Singapore-based RB Investments will fully exit BlueStone through the deals. RB Investments, which holds a 2–3% stake in the company, is set to make a 10–12x return on its investment. It backed BlueStone across various stages between 2016 and 2019, investing around Rs 28–30 crore. The Singapore-based family office has also backed Indian companies such as Swiggy, Giva and Rebel Foods. 'The round took place because there was interest from certain investor classes to pick a stake prior to the IPO,' one of the persons said. 'BlueStone is soon expected to finalise the pricing for the IPO.' A secondary deal is between existing and incoming investors, and the cash doesn't go into the company. Wealth managers pool investment deals for their clients, which typically include the likes of domestic family offices and high networth individuals (HNIs). These investors are usually added to the capitalisation table prior to a public issue. Private wealth management firms have earlier facilitated pre-IPO deals in companies such as food and grocery delivery firm Swiggy, hospitality platform Oyo, logistics startup Shadowfax and business-to-business (B2B) meat company Captain Fresh. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories BlueStone filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in December, gaining approval in April. Its IPO includes a fresh capital raise of Rs 1,000 crore and an offer-for-sale (OFS) component of nearly 24 million shares, which will see investors including Accel , Saama Capital, IvyCap Ventures and Kalaari Capital selling their stakes. Queries sent to BlueStone founder and CEO Gaurav Singh Kushwaha went unanswered. In response to an emailed query, Centrum Wealth said, 'There may be a few HNI clients who seek exposure, to whom we may facilitate through a market intermediary.' A spokesperson for 360 One said, 'We have no comments on the query.' RB Investments also did not respond. BlueStone had closed a Rs 900-crore funding round —a combination of primary and secondary transactions—in August 2024, which saw the participation of investors such as Peak XV Partners, Prosus, Steadview Capital, Think Investments and Infosys cofounder Kris Gopalakrishnan's family investment office Pratithi Investments. In May this year, BlueStone raised Rs 40 crore in debt from alternative debt platform BlackSoil and Caspian Impact Investments. Over the last few years, investors have turned bullish on the jewellery business. This trend picked up steam after the Tata Group's full acquisition of CaratLane at a valuation of Rs 17,000 crore. The conglomerate had first invested in the startup in 2016, when it was valued at Rs 563 crore. Omnichannel jewellery startup Giva, which specialises in silver products, is also in talks to pick up Rs 450 crore ($53 million) in a financing round led by Creaegis in addition to participation by Premji Invest, Epiq Capital and others. BlueStone closed fiscal 2024 with Rs 1,266 crore in revenue, a 64% jump from the year ago. Its loss during the year contracted to Rs 142 crore in FY24 from Rs 167 crore in fiscal 2023. For the first three months of fiscal 2025, BlueStone reported operating revenue of Rs 348 crore and net loss of Rs 59 crore.
Time of India
6 days ago
- Business
- Time of India
iSprout brings together industry trailblazers at GCC Leaders' Conclave 2025
iSprout brings together industry trailblazers at GCC Leaders' Conclave 2025 The GCC Ecosystem Leaders Conclave 2025 brought together an influential mix of thought leaders, policymakers, and industry pioneers to explore the evolving and dynamic future of Global Capability Centers (GCCs). Held at ITC Kohenur, Hyderabad, the invite-only event, hosted by iSprout in collaboration with The Economic Times as media partner, served as a vibrant platform for dialogue and collaboration. The conclave saw active participation from leaders across government bodies, top GCCs, technology associations, real estate, finance, legal, and talent management sectors, reflecting the breadth and depth of the ecosystem driving the new, robust GCC narrative. The event marked the launch of iSprout Signature, custom designed ready-to-move-in premium workspaces and GCCXprss, a one-stop platform to enable GCCs to set up and scale their India operations. Speaking on the occasion, Sreenivas Tirdhala, Co-founder iSprout stated, 'Since our inception in 2017, iSprout has expanded to over 2.5 million square feet of premium managed workspace, hosting more than 400 companies across six Indian cities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo With strong demand and continued momentum, we're now aiming to double our capacity over the next 24 months'. In a briefing which followed, Sundari Patibandla, CEO and co-founder, iSprout gave an overview of the new ventures, shedding light on its key aspects. 'With iSprout Signature, we are redefining the workspace experience for Global Capability Centers. These high-end, plug-and-play workspaces combine luxury, functionality, and flexibility—designed specifically for global teams who expect more from their work environment,' she said. Vijay Pasupulati, CEO GCCXprss, elaborating on the vision behind the brand said, 'GCCXprss is designed as a one-stop platform to help mid-market global companies seamlessly set up and scale their Global Capability Centers (GCCs) in India. From premium workspace solutions to talent acquisition and operational support, we offer both Build-Operate-Transfer and GCC-as-a-Service models—making it easier than ever to launch and grow in one of the world's most dynamic talent markets'. In his address, Kartik Ramakrishnan, KPMG partner - GCC initiative, set the tone of the evening by presenting the evolution and potential of GCCs and India's strategic advantage with its large talent pool, language proficiency and cost effectiveness. GCC powering India's growth A panel discussion on 'GCC powering India's growth' was moderated by Sreenivas Tirdhala. The panel saw the presence of Padma Bhushan Kris Gopalakrishnan, co-founder, Infosys and Shakthi Sagar, strategic adviser and eminent tech leader sharing their experiences and visions about India's growth. Kris Gopalakrishnan reflected on the importance of industries' ability to continuously evolve and adapt to the ecosystem and client's changing needs. He noted that the IT industry itself is inherently dynamic and constantly undergoing reinvention. 'With the advent and rapid advancement of AI, significant transformations are taking place, and GCC will need to continuously adapt,' he stated. Elaborating on India's potential, he added, 'India is the fastest growing country in terms of IT services. It is mainly because of the talent pool, our focus on STEM education and adaptability. India will continue to be the default location if we continue to innovate and create the right model to attract the companies'. Shakthi Sagar described GCCs as more than just operational hubs — he referred to them as GILT, meaning Global Innovation Leveraging Trendsetters. He emphasised the strength of India's talent pool, noting that it is predominantly young, which makes it highly trainable and adaptable. 'Indian professionals have a strong ability to learn while working and deliver results effectively,' he added. Strength of an ecosystem At the policy level, both leaders emphasised that India must actively promote the growth of GCCs and the broader IT sector. They stressed that skilling is a shared responsibility, one that must be taken up collectively by companies, individuals, and the government. They also addressed the persistent gap between academia and industry. To bridge this gap, they emphasised the need for strong partnerships and collaboration between academia and industry. GCC Playbook The second panel discussion titled 'GCC Playbook', focused on India's evolving IT landscape, talent potential, the changing technology ecosystem and delivery models. It was moderated by Swaroopa Gorantla, co-founder of Peoples360D and had Chandra Vijjhala, American Airlines India GCC president; Rajesh Balaraju, London Stock Exchange India GCC COO; Sandip Patnaik, JLL India MD; Dr Vipul Singh, HR head, Lloyds Banking Group. Dr. Vipul Singh began by emphasising the need to focus on fresh graduates and early-career professionals. 'There's a significant arbitrage created by money power and a changing ecosystem,' he said, highlighting the importance of adapting the workforce to the current needs of the industries. He stressed that success today depends on being able to deliver solutions end-to-end, adding, 'A GCC is truly successful only if it can take a product from concept to delivery'. Rajesh Balaraju outlined three core pillars for India's leadership in the IT space. 'First and foremost, it's about talent. Second is scalability, and third is our ability to lead global delivery,' he explained. Sandeep Patnaik responded to the common question as to why India is still such an attractive destination for global IT investments. 'India offers much more than just cost advantages; it brings innovation, agility and an evolving talent pool,' he stated. He added 'In India, 75 million square feet of office space was leased out last year and out of it 30% is contributed by GCCs'. Highlighting the advantages India holds globally, Chandra stated, 'Our talent is not only about learning new skills but also in bringing change. We are adaptable and have a great learning agility as a workforce'. Returning to the discussion on location-based advantages, Chandra highlighted the strategic appeal of Hyderabad. 'The attractiveness of Hyderabad helps us draw attention—both from talent and investors. A great ecosystem combined with great talent becomes a powerful catalyst,' he stated. The evening ended on a note of camaraderie amongst the august audience and speakers. Disclaimer - The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
30-04-2025
- Health
- Time of India
IIT-I to develop tech translation research park
Indore: Indian Institute of Technology, Indore (IIT-I), is developing a Technology Translation Research Park (TTRP) with an aim to enhance digital health solutions and creating a seamless digital health ecosystem in the country. The advanced facility at IIT-I in digital healthcare to be set up under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) will work to bridge the gap between urban and rural healthcare services, leveraging telemedicine , electronic health records (EHRs), artificial intelligence-driven diagnostics and personalised medicine and care. The institute received a nod from the department of science and technology and governing body of NMICPS led by Kris Gopalakrishnan, founder of Infosys, to upgrade IIT-I's technology innovation hub Drishti CPS Foundation into a TTRP with an outlay of Rs 250 crore for next three years in tranches. Of the total proposed amount Rs 52 crore has been received by the foundation. "The new TTRP comes as a great validation of the initiatives on digital healthcare that has been incubated in IIT-I. We look forward to extending the mandate of IIT-I Drishti CPS Foundation into the digital healthcare through this new TTRP," said IIT-I director professor Suhas S Joshi. IIT-Indore established the Drishti CPS Foundation in 2020, which has so far supported over 150 technology projects and startups with funds and mentoring. Drishti CPS Foundation CEO Aditya Vyas said, "The research park will cater to the growing need of the nation in creating a robust digital health infrastructure. Drishti CPS is developing a flagship unified human digital twin platform - CharakDT. The novel, systematic and scalable architecture of CharakDT allows a unique way of creating individual health models (twins) for each patient by aggregating contextual data from multifarious sources and implementing large-scale AI models across dimensions of organ physics, demography, diagnostic tools, and environment."
Time of India
29-04-2025
- Health
- Time of India
IIT-I to develop Technology Translation Research Park to boost digital healthcare
Indore: Indian Institute of Technology, Indore (IIT-I), is developing a Technology Translation Research Park (TTRP) with an aim to enhance digital health solutions and creating a seamless digital health ecosystem in the country. Tired of too many ads? go ad free now The advanced facility at IIT-I in digital healthcare to be set up under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) will work to bridge the gap between urban and rural healthcare services, leveraging telemedicine , electronic health records (EHRs), artificial intelligence-driven diagnostics and personalised medicine and care. The institute received a nod from the department of science and technology and governing body of NMICPS led by Kris Gopalakrishnan, founder of Infosys, to upgrade IIT-I's technology innovation hub Drishti CPS Foundation into a TTRP with an outlay of Rs 250 crore for next three years in tranches. Of the total proposed amount Rs 52 crore has been received by the foundation. "The new TTRP comes as a great validation of the initiatives on digital healthcare that has been incubated in IIT-I. We look forward to extending the mandate of IIT-I Drishti CPS Foundation into the digital healthcare through this new TTRP," said IIT-I director professor Suhas S Joshi. IIT-Indore established the Drishti CPS Foundation in 2020, which has so far supported over 150 technology projects and startups with funds and mentoring. Drishti CPS Foundation CEO Aditya Vyas said, "The research park will cater to the growing need of the nation in creating a robust digital health infrastructure. Drishti CPS is developing a flagship unified human digital twin platform — CharakDT. The novel, systematic and scalable architecture of CharakDT allows a unique way of creating individual health models (twins) for each patient by aggregating contextual data from multifarious sources and implementing large-scale AI models across dimensions of organ physics, demography, diagnostic tools, and environment." The TTRP will also give a huge boost to translational research activities in other domain of research at IIT-I, Vyas said.
