BENGALURU: Bengaluru-based BlueStone Jewelery and Lifestyle, which affords modern diamond, gold, platinum, and studded jewelery beneath an eponymous model, on Thursday filed for an preliminary public providing to lift Rs 1,000 crore ($118 million as per present change charges).
The IPO additionally included an offer-for-sale (OFS) element for BlueStone’s buyers Accel India, Saama Capital, Kalaari Capital and others. These buyers are aiming to divest about 24 million shares.
The OFS contains shares as much as 70,73,980 being offered by Kalaari Capital, as much as 41,00,970 by Saama Capital and as much as 40,00,000 by Sunil Kant Munjal and different companions of Hero Enterprise Partner Ventures.
The proceeds from the recent subject to the extent of Rs 750 crore shall be used to fund its working capital necessities and normal company functions, the corporate mentioned.
Bluestone reported income of Rs 1,266 crore within the monetary 12 months ended March 2024, up 64% from a 12 months in the past. Net loss narrowed by 15% to Rs 142 crore. The firm has raised $225 million over time, as per Tracxn.
The firm was based by Vidya Nataraj and Gaurav Kushwaha in 2011. It ships jewelry, designed in-home, throughout the nation protecting 12,600 pincodes and internationally to the United States, Canada, the United Kingdom and Australia. It additionally operates bodily shops.
As of June, 2024, the corporate operated 110 firm-owned shops and 93 franchised shops, protecting a complete space of over 3,50,000 sq. toes.
The firm additionally operates three manufacturing services situated in Mumbai, Jaipur and Surat, alongside a devoted prototype facility in Mumbai that helps its designers.
The firm has 104 public shareholders collectively holding a 26.82% stake in its fairness. Other marquee buyers embody Peak XV Partners, MIH Investments, Steadview, Iron Pillar, IvyCap Ventures, Access India Capital and Think Investments.
