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Jewellery retailer Bluestone files for IPO, to sell fresh shares worth $118 million

Economic TimesEconomic Times · 7d
Jewellery retailer Bluestone files for IPO, to sell fresh shares worth $118 million

Bluestone Jewellery and Lifestyle, a leading jeweller in India, has filed for an initial public offering (IPO). They aim to raise funds through fresh shares valued at Rs 10 billion ($117.8 million). Additionally, existing shareholders, including Accel and Kalaari Capital, will sell 24 million shares in the offering. India's jewellery market, estimated at $85.52 billion in 2023, is expected to grow 5.7% annually by 2030. Bluestone is the latest company to join the booming IPO market in India, with over 300 companies raising $17.5 billion in 2024. The funds from the IPO will be used for working capital requirements. Axis Capital, IIFL Capital, and Kotak Investment Banking will act as book-running lead managers for the IPO.

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