BlueStone Jewellery IPO: Fresh Issue to Raise Up to Rs 1,541 Crore

BlueStone Jewellery and Lifestyle is launching an IPO on August 11, aiming to raise up to Rs 1,541 crore. The IPO comprises a fresh issue of shares worth Rs 820 crore and an offer for sale of up to 1.39 crore shares by existing shareholders. The issue is priced in the range of Rs 492–517 per share and will close on August 13. The company will be valued at about Rs 7,823 crore at the upper price band.

BlueStone Jewellery and Lifestyle, a prominent digital-first omni-channel jewellery retailer, is set to launch its Initial Public Offering (IPO) on August 11, aiming to raise up to Rs 1,541 crore. The IPO comprises a fresh issue of shares worth Rs 820 crore and an offer for sale of up to 1.39 crore shares by existing shareholders. The issue is priced in the range of Rs 492–517 per share and will close on August 13. At the upper price band, the company will be valued at approximately Rs 7,823 crore [1].

The IPO involves a fresh issue of Rs 820 crore and an offer for sale (OFS) of 1,39,39,063 equity shares worth Rs 720.65 crore, aggregating the transaction size to Rs 1,540.65 crore [2]. The proceeds from the fresh issue will primarily be used to fund working capital requirements (Rs 750 crore) and for general corporate purposes. Anchor investors have already contributed Rs 693 crore, including contributions from institutional investors such as Amansa Holdings, SBI Life Insurance Company, Nippon India Mutual Fund, and Goldman Sachs [2].

BlueStone Jewellery and Lifestyle, headquartered in Bengaluru, operates 275 stores across 117 cities in India, with a significant portion of its jewellery manufactured in-house at facilities in Mumbai, Jaipur, and Surat. The company's revenue from operations grew at a CAGR of nearly 52% in the past three fiscal years, rising from Rs 771 crore in FY23 to Rs 1,770 crore in FY25. However, it reported a loss of Rs 222 crore in FY25, primarily due to expansion and marketing spends. Gross margins improved to 37.94% in FY25 from 31.87% in FY23 [1].

The IPO is being led by Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital, with Kfin Technologies acting as the registrar. The shares are proposed to be listed on both the BSE and NSE, with trading expected to commence on August 19.

References:

[1] https://m.economictimes.com/markets/ipos/fpos/bluestone-jewellery-ipo-opens-for-subscription-gmp-at-2-check-all-details/articleshow/123226312.cms

[2] https://economictimes.indiatimes.com/markets/ipos/fpos/bluestone-jewellery-raises-rs-693-crore-from-anchor-investors-ahead-of-ipo/articleshow/123192440.cms