BlueStone, a prominent omnichannel jewellery retailer, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The move positions the company to raise substantial capital for growth and operational expansion, marking a major milestone in its business trajectory
Jewellery retailer BlueStone has secured approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), marking a significant step in its journey toward public listing.
The IPO will consist of a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale (OFS) of 2.4 crore equity shares by existing shareholders. Key investors participating in the OFS include Kalaari Capital Partners II, LLC, Saama Capital II, Sunil Kant Munjal along with other partners of Hero Enterprise Partner Ventures, and other early backers.
According to earlier reports, the IPO could value the omnichannel jewellery brand at around Rs 12,000–13,000 crore — representing a sharp increase from its last funding round in August, when it raised Rs 900 crore at a valuation of $970 million.
BlueStone plans to allocate Rs 750 crore from the fresh issue proceeds toward meeting working capital requirements and general corporate purposes, as outlined in the draft red herring prospectus filed in December.
With the SEBI nod in place, the company is now poised to enter the capital markets in the coming months.
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