Liquidity Events
BlueStone Jewellery and Lifestyle’s Rs.1,541-Cr IPO gets 2.7 times subscription
The INR 1,541 crore initial public offering (IPO) of Bengaluru-based omnichannel jewellery chain BlueStone was subscribed 2.7 times. The IPO comprises a fresh equity issue of INR 820 crore and an OFS of 1.39 crore shares by VC investors including Accel India III, Saama Capital II, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal. The price band for the issue was fixed between INR 492 and INR 517 per share.The IPO received bids for 4,46,20,386 shares against 1,65,14,421 shares on offer. The Qualified Institutional Buyers (QIBs) portion fetched 4.28 times subscription, while Retail Individual Investors (RIIs) portion got 1.35 times subscription. The non-institutional investors’ portion received a 55% subscription.The proceeds from the fresh issue will be used for funding working capital requirements.Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
Between Jan 2012 and May 2025, BlueStone.com had attracted about USD 319 M in equity and debt from 360 ONE, Accel India, Iron Pillar, IvyCap Ventures, Kalaari Capital, RB Investments, Saama Capital and others.For FY24, Bluestone.com had reported about INR 1,268 Cr in Operating Income and about INR 142 Cr in Net Loss.
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