BlueStone Jewellery and Lifestyle Ltd has launched its much-awaited ₹1,540.65 crore initial public offering (IPO), opening today for subscription. The price band has been fixed between ₹492 and ₹517 per equity share.
The IPO comprises two components — a fresh issue worth up to ₹820 crore and an offer-for-sale (OFS) of up to 1,39,39,063 equity shares by existing shareholders. Key selling shareholders include venture capital firms Kalaari Capital Partners II, Saama Capital II, and industrialist Sunil Kant Munjal.
Ahead of the public offering, BlueStone successfully raised ₹693.29 crore from anchor investors. The company allotted 1,34,09,910 shares at ₹517 each to marquee institutions such as SBI Life Insurance, Goldman Sachs, HDFC Life Insurance, and multiple leading mutual funds.
According to the company’s prospectus, ₹750 crore from the IPO proceeds will be allocated towards working capital requirements, while the balance will be used for general corporate purposes.
BlueStone, a leading player in the fine jewellery segment, operates advanced manufacturing facilities in Mumbai, Jaipur, and Surat. Post-IPO, the shares will be listed on both the BSE and NSE.
Industry analysts suggest that the IPO is drawing strong attention due to the brand’s premium positioning in the jewellery retail market and its rapid expansion strategy across India.
