BlueStone Jewellery, which is funded by Ratan Tata, intends to raise more than Rs 1,500 crore in an initial public offering. According to The Economic Times, the corporation is anticipated to dilute 10-12 percent of its holding in the IPO, which would include a new issue of shares as well as an offer for sale (OFS).
BlueStone, which runs the online marketplace Bluestone.com, has hired ICICI Securities, IIFL Securities, Jefferies, and JM Financial as investment bankers for its initial public offering (IPO). The proposed stock offering is expected to begin in the second quarter of the next fiscal year 2022-23.
BlueStone’s private equity investors, led by Kalaari Capital, are likely to sell all or part of their stakes via the OFS. The business, which is classified as a startup, is thought to be looking for a valuation of Rs 12,000-15,000 crore.
Mumbai is home to BlueStone’s two production plants. In 2018, it established its initial store in Delhi’s Pacific Mall, followed by five more in Chandigarh, Mumbai, and Hyderabad. BlueStone provides over 8,000 designs and a 30-day money-back guarantee, as well as certified jewellery and lifelong exchange.
