BlueStone, the Ratan Tata-backed omnichannel jewellery retailer, has appointed Rumit Dugar as its Chief Financial Officer (CFO).

Dugar brings with him over 17 years of experience across multiple domains, such as technology, fintech and equities businesses. He will be heading the finance function of the enterprise, driving controls and governance framework, capital access and allocation and investor engagement.

According to BlueStone Founder and CEO Gaurav Kushwaha, since the company’s operations have expanded to over 25 cities across the country, and more expansion is on the cards, an experienced leader to manage the finance function was essential.

Dugar is rated among India’s top analysts, according to Asiamoney, a leading financial publication and subsidiary of Euromoney. He has been associated with leading organisations such as JP Morgan, Infosys and IDFC. He began his career in 2004 as an ERP consultant, from where he moved to the equities business within JP Morgan. He has led the technology and telecom sectors for investment banks across geographies, including India, Europe and Hong Kong.

Prior to joining BlueStone, Dugar was the chief financial officer and head of the strategy at Niyogin Fintech, a public listed Fintech neo-banking platform delivering impact-centric solutions to MSMEs, and served on the board of its subsidiaries across payments and wealth.

Dugar has been appointed CFO at a time when BlueStone recently raised over $30 million in funding at a valuation of $410 million. The funding round was led by Sunil Kant Munjal, Chairman, Hero Enterprise. BlueStone is India’s largest omnichannel precious jewellery brand with a design-led approach and with fresh collections being updated every month.