BlueStone's IPO opens today: What to know
BlueStone, the Bengaluru-based jewelry brand, just opened its IPO with plans to raise ₹1,541 crore.
The offer includes a fresh issue of ₹820 crore and an offer for sale of up to 1.39 crore shares by existing shareholders.
Shares are priced between ₹492-₹517 each, and the IPO closes on August 13.
BlueStone's business model
BlueStone is all about making jewelry shopping easy—both online and in-store.
They sell diamond, gold, platinum, and studded pieces through 275 company-owned stores across 117 cities, plus a website with over 7,400 designs.
Most of their jewelry is made in-house at facilities in Mumbai, Jaipur, and Surat.
IPO details and use of funds
If the IPO gets fully subscribed at the top price band, BlueStone's valuation will hit around ₹7,823 crore.
Shares are set to list on BSE and NSE on August 19.
The money raised will mainly go toward working capital and business needs as BlueStone continues its rapid expansion—even though they posted a loss this year due to growth costs.