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Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024

EntrackrEntrackr · 7d ago
Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024
Medial

Bluestone Jewellery and Lifestyle facilitated secondary share transactions worth Rs 443 crore between February and September 2024, allowing early investors to partially exit and late-stage institutional funds to enter ahead of its upcoming IPO, according to its Red Herring Prospectus (RHP). Iron Pillar Fund and Kalaari Capital offloaded part of their stake to 360 One, Peak XV, and Steadview Capital via off-market deals. In February 2024, Iron Pillar sold 3.26 lakh shares to 360 One Large Value Fund for Rs 103 crore, valuing Bluestone at Rs 3,149 per share. In September, Kalaari executed two back-to-back secondary sales, where on September 02, it transferred 4.07 lakh shares to Peak XV Partners for Rs 220 crore, and later on September 26, it sold 2.22 lakh shares to Steadview Capital for Rs 120 crore. Both deals were priced at Rs 5,403 per share. These secondary transactions were already disclosed in the company’s DRHP filed in December 2024. Bluestone is reportedly targeting a valuation of around Rs 7,800 crore in its upcoming initial public offering (IPO). In the updated RHP, Bluestone revised its IPO size, where it trimmed the fresh issue to Rs 820 crore from Rs 1,000 crore, and reduced the Offer for Sale to 1.39 crore shares from 2.4 crore shares. Investors including Accel, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal (Hero Enterprise) are part-exiting via the public offer. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone operates 275 stores across over 80 cities and reported Rs 1,770 crore in revenue in FY25, a 40% YoY jump. At the same time, its losses widened 56% to Rs 218 crore. The IPO opens on August 11, with anchor bidding on August 8. Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the issue.

Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12

EntrackrEntrackr · 6m ago
Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12
Medial

Voler Car Limited is set to launch its SME initial public offering (IPO) on February 12, 2025, aiming to raise Rs 27 crore (approximately $3.2 million). According to the press release, the IPO comprises 30,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 85-90 per share. The lot size for the IPO is 1,600 equity shares, requiring a minimum investment of Rs 1,44,000 for investors looking to participate. The SME IPO will be processed through the 100% book-building method. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO, while KFin Technologies Limited is the registrar to the issue. The IPO will be open from February 12, 2025 to February 14, 2025. The issue proceeds will be utilized for funding working capital requirements, general corporate expenses, and IPO-related costs. Founded in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across major Indian cities. As per its investor memorandum, the company operates a fleet of over 2,500 vehicles, completing 425,000 trips annually across nine cities in India. During the first six months of the ongoing fiscal year (H1 FY25), Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore. However, they recorded a revenue of Rs 30.89 crore with a profit of Rs 3.56 crore during the previous fiscal year (FY24).

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