BlueStone Shines in IPO Market with Ambitious Fundraising Plan

BlueStone Jewellery and Lifestyle is raising funds through an IPO, which involves a fresh issue of shares worth Rs 1,000 crore and an offer for sale by existing shareholders. Proceeds will fund working capital and corporate purposes. BlueStone operates 203 stores and shows robust revenue growth.

BlueStone Jewellery and Lifestyle, a leading name in contemporary lifestyle jewellery, is set to make a significant move in the financial market. The company has filed draft papers with the Securities and Exchange Board of India (Sebi) for a robust fundraising initiative through an initial public offering (IPO).

The ambitious IPO consists of a fresh issue of shares valued at Rs 1,000 crore and an offer for sale (OFS) of up to 2.4 crore equity shares by the selling shareholders, as detailed in the draft red herring prospectus filed recently.

Proceeds from the fresh issue are earmarked for funding working capital requirements and general corporate needs. BlueStone, headquartered in Bengaluru and founded in 2011, has rapidly established itself as a prominent jeweller with a growing number of stores and impressive financial performance.

(With inputs from agencies.)