BlueStone Jewellery IPO: Fresh issue, OFS to raise ₹1,000 crore
BlueStone Jewellery is opening its IPO for subscription from August 11-13, aiming to raise ₹1,000 crore.
The company's expected valuation is nearly ₹7,800 crore ($888 million).
Existing investors will sell about 2.4 crore shares as part of the offer.
The company in numbers
Launched in 2011, BlueStone is a jewelry brand that sells diamond, gold, platinum and gemstone pieces both online and in-store—think 225 outlets across 117 cities plus a website and apps.
They're big on quality and customization. In 2024, they pulled in revenues of ₹1,266 crore as more shoppers turned to digital-first jewelry options.
Details of the IPO and key stakeholders
The IPO is being managed by Axis Capital, Kotak Mahindra Capital and IIFL Capital.
Key early backers include Accel (11.68%), Sunil Kant Munjal (5.61%) and Kalaari Capital (5.12%).
Founder Gaurav Singh Kushwaha—an IIT Delhi grad and ex-Amazon exec—owns 17.7%.
Money raised will help with working capital and other business needs; major shareholders like Accel Partners are selling some of their stake too.