Mumbai based Jewellery and Lifestyle Company BlueStone Jewellery files DRHP with SEBI for the proposed IPO; Key Details here

BlueStone Jewellery is into Consumer Jewellery and Lifestyle and is looking raise funds through Fresh Issue and Offer For Sale

BlueStone JewelleryIPO: Fresh Issue of Equity shares aggregating up to Rs.1000 crores. Offer of Sale of 23,986,883 Equity Shares through public issue IPO

BlueStone Jewellery IPO: BlueStone Jewellery and Lifestyle Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.

Promoters of BlueStone Jewellery are Gaurav Singh Kushwaha and holds 73.18% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating up to Rs. 1000 crores and an Offer for Sale of up to 23,986,883 Equity Shares .
• Axis Capital, IIFL Capital Services, Kotak Mahindra Capital have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,000 Crs and offer-for-sale (OFS) of up to 23,986,883 equity shares by Promoters are not offloading Equity share inthe OFS. OFS consists of selling shareholders of Equity Shares including Accel India III (Mauritius) Ltd: Up to 3,027,303 Equity Shares; Saama Capital II, Ltd.: Up to 4,100,970 Equity Shares; Kalaari Capital Partners II, LLC: Up to 7,073,980 Equity Shares; Kalaari Capital Partners Opportunity Fund, LLC: Up to 904,290 Equity Shares; IvyCap Venture Trust - Fund-I: upto 3,126,950 Equity shares; Iron Pillar Fund I Ltd: Up to 1,094,780 Equity Shares; Iron Pillar India Fund I: Up to 658,610 Equity Shares; Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures): Up to 4,000,000 Equity Shares ..

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Objects of the issue:
1) Funding working capital requirements amounting to Rs750 crores, and 2) General corporate purposes.

About Company:
Established in 2011, BlueStone Jewellery and Lifestyle is into selling diamond, gold, platinum and studded jewellery under the brand name "BlueStone". It has omni-channel jewellery brand business model which retails products through website www.bluestone.com and mobile application available on iOS and Google Play Store, in addition to network of 275 stores spread across 117 cities. Its stores are company owned as well as franchise stores across India.

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About Industry:
The Indian jewellery market has grown a CAGR of 13% - 15% between 2021 to 2024 and currently stands at approximately ₹ 6,340 billion and is projected to reach ₹ 11,000 billion - ₹ 12,000 billion by 2029, growing at a CAGR of 12% - 14% between 2024 and 2029. Organised retail drove approximately 37% of the Indian jewellery market in 2024. The organised segment’s contribution is projected to grow to 43% - 47% of the overall jewellery market, growing at a CAGR of 16% - 18% till 2029

Source: SEBI, BSE, NSE, DRHP, BlueStone Jewellery, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.