BlueStone Shines with IPO Offering Amid Jewellery Market Expansion

BlueStone Jewellery and Lifestyle has set the stage for its initial public offering (IPO), fixing a price band of Rs 492 to Rs 517 per share under its flagship brand 'BlueStone'.

The IPO will open from August 11 to 13, as outlined in a company statement. The public issue includes a fresh issue of Rs 820 crore alongside an offer for sale (OFS) of 1,39,39,063 shares valued at Rs 720.65 crore at the high end of the pricing scale, totaling Rs 1,540.65 crore.

The funds generated will be allocated for working capital and corporate needs. With roots dating back to 2011, BlueStone has established itself as a prominent jewellery retailer in India, boasting 275 stores across 117 cities in 26 states and Union Territories. The IPO's book-running lead managers include Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company, with shares planned to list on the BSE and NSE.

(With inputs from agencies.)