💍 BlueStone’s ₹820 Cr IPO Is Here

☀️ Good morning! It’s Wednesday, August 6, and the chai is piping hot 🔥

Trump’s tariff bombshell continues to stir markets, startups are cashing in across sectors from perfume to precision robotics, and India’s desi cloud contenders are muscling up. RBI’s big mid-year policy call is hours away — will they cut, hold, or surprise?

Let’s sip through the chaos 👇

🫖 Chai Shots

• 🏦 RBI MPC to Announce Policy Decision Today at 10AM: The central bank is expected to keep interest rates unchanged at 5.5%, which affects how expensive loans and EMIs are. With low inflation, festive demand coming up, and new US tariffs in play, the RBI’s message today could shape borrowing costs and business sentiment for the rest of the year.

• ✈️ Jeh Aerospace Raises $11M to Ease Aircraft Backlogs: The Hyderabad-based aerospace startup, founded by ex-Tata execs, will use the funds to scale precision parts production for global Tier-1 suppliers. Already profitable with $6M in ARR and a $100M order book, it’s betting on India as the next big aircraft manufacturing hub.

• 💊 Trump’s Tariff Threats Expand to Pharma and Chips: Trump warned that tariffs on pharma could reach 250%, and confirmed semiconductor tariffs will be announced next week, raising costs for tech and biotech firms heavily reliant on imports.

• 💎 BlueStone Files RHP, IPO Opens August 11: Bengaluru-based jeweller BlueStone is heading to the bourses with an ₹820 crore fresh issue + OFS, planning to list on August 19. Backed by Kalaari, Accel, and Hero’s Sunil Munjal, the company’s profits dipped even as revenue surged 40% in FY25. More in the Big Brew 👇

📈 Market Masala

• 📉 Market Slips as Tariff Heat Sinks Sentiment: The Sensex dropped 308 points and Nifty 50 slipped below 24,650, dragged down by Trump’s comments. Oil & gas stocks led the fall, while auto stocks held up. Investors are now watching the RBI’s policy announcement and Q1 earnings for direction.

• 🧵 Pharma and Textiles Stocks Bruised by Tariffs: Gokaldas Exports plunged 15.9%, and pharma majors like Aurobindo Pharma, Dr Reddy’s, and Lupin fell on fears of future 250% duties. With high US exposure, these sectors are now staring at margin pressure and potential loss of market share.

• ☁️ Indian Cloud Firms Take on AWS and Google: Airtel, Jio, Tata, and Yotta are doubling down on sovereign cloud offerings, targeting 30–70% cheaper solutions for regulated sectors. But gaps in ecosystem maturity and migration complexity still give hyperscalers the upper hand.

🌍 Global Masala

• 🪙 Wall Street Dips on Tariff Tensions and Weak Data: The S&P 500 slipped 0.5%, Nasdaq fell 0.7%, and the Dow edged down 0.1% as the US services PMI stalled and Trump’s tariff threats spooked traders. Palantir was the day’s standout, jumping 7.9% on hitting $1B in revenue.

• 🖥️ Super Micro Crashes 15% After Miss and Weak Outlook: The AI server darling missed earnings estimates and guided below expectations for Q1. Despite strong FY26 revenue forecasts, slowing growth and recent Nasdaq delisting drama spooked investors.

🍵 The Big Brew: BlueStone’s IPO Glitters — But Can It Shine?

India’s second-largest digital-first jewellery brand, BlueStone, is officially headed to the stock market. The company filed its red herring prospectus, with the IPO window opening August 11–13 and listing slated for August 19.

Here’s what makes this sparkle interesting:

• 💰 ₹820 crore in fresh issue + 1.39 crore shares in OFS: Backers like Kalaari, Accel, Saama, and Hero’s Sunil Munjal will partially exit.

• 🏪 203 stores across 86 cities: A rare online-to-offline story, BlueStone is betting big on omni-channel jewellery retail.

• 📉 Profits dropped 56% in FY25, even as revenue jumped 40% to ₹1,265 crore — not the cleanest runway ahead.

• 🎯 ₹750 crore of IPO proceeds will go to working capital, hinting at aggressive expansion plans.

• 📆 Axis Capital is the lead banker and allotment is expected by August 14.

What does this mean?

BlueStone's IPO is a big test for consumer retail listings in a choppy macro environment. If successful, it could open the floodgates for more direct-to-consumer luxury brands. But the profit slide raises questions on valuation, and execution will be key post-listing.

🚀 Startup Scoop

• 🌸 Fraganote Gets $1M to Expand India’s Perfume Aisle: Backed by Rukam Capital, the fragrance-first brand will use the funds to launch new formats, grow offline, and build a pan-India supply chain. It’s riding the wave as India’s perfume market eyes a 3x jump by FY32.

• 👗 Tryo Raises ₹3 Cr to Rethink Fashion Discovery: The fashion shopping startup secured early-stage capital from Zeropearl VC to launch in Bengaluru, develop tech, and partner with top Indian fashion brands to offer a curated shopping experience.

• 🤖 Terafac Nets ₹6.5 Cr to Make Robots Smarter: Chandigarh-based Terafac turns ordinary factory robots into self-adjusting machines using AI vision. With funding led by Inuka Capital, it’s targeting 80 deployments and ₹8 crore in ARR by FY26.

• 🧠 TurboHire Bags $6M to Power AI-Led Hiring: The Hyderabad startup raised Series A capital from IvyCap Ventures to expand globally, deepen AI integration, and automate hiring for enterprises like Tata Motors and PwC.

🤯 Chai Break Trivia

Did you know: 🛣️ India has over 1.4 lakh km of national highways — but less than 2% are expressways? Despite that, highways carry 40% of the country’s total road traffic.

🔮 What’s Brewing Next

• 🏦 RBI MPC Decision at 10am Today: Will Governor Malhotra hold or cut rates? The festive quarter may hang in the balance.

☕ That’s a wrap for August 6!

From jets and jewels to robots and roadblocks, India’s economy is navigating tailwinds and turbulence in equal measure. We’ll be back tomorrow with more masala, more chai.

Until then, stay caffeinated and tariff-resilient.

— Team Masala Chai 🧡