BlueStone Raises Rs 693 Crore Ahead of IPO Launch

BlueStone Jewellery and Lifestyle secured over Rs 693 crore from anchor investors prior to its IPO opening. Institutional investors participated in this funding round. The IPO, involving a fresh issue and offer for sale, targets to raise around Rs 1,540 crore for various corporate purposes.

BlueStone Jewellery and Lifestyle, a contemporary jewellery brand, successfully raised over Rs 693 crore from anchor investors just days before its initial public offering (IPO) opens for public subscription. The jewellery giant secured backing from esteemed institutional investors, including Amansa Holdings, SBI Life Insurance Company, and Goldman Sachs.

The company allocated more than 1.34 crore equity shares at Rs 517 each, culminating in a transaction totaling Rs 693.29 crore. The IPO offers a price band of Rs 492 to Rs 517 per share, available from August 11 to August 13. The initiative is expected to raise a total of Rs 1,540.65 crore through a fresh issue and an offer for sale.

BlueStone, which launched its brand in 2011, has expanded to become a leading jewellery retailer in India, with 275 stores across 117 cities. Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are overseeing the IPO listing on the BSE and NSE. The funds will support working capital and other corporate purposes.