Bluestone Jewellery IPO opens on August 11: Firm raises ₹693 crore from anchor investors; check all details

The institutional investors that participated in the anchor book included Amansa Holdings, SBI Life Insurance Company, Nippon India Mutual Fund (MF), Goldman Sachs, Aditya Birla SunLife MF, HDFC Life Insurance Co Ltd, Societe Generale, DSP India MF, PGIM India MF, Axis MF and Motilal Oswal MF, according to a circular uploaded on BSE's website.

As per the circular, the company allocated over 1.34 crore equity shares at ₹517 apiece to anchor investors, aggregating the transaction size to ₹693.29 crore.

Bluestone Jewellery and Lifestyle will launch its ₹1,540.6-crore initial public offering (IPO) on August 11. The IPO will remain open for subscription till August 13. The IPO is a combination of a fresh issue and an offer-for-sale of over 2.97 crore shares.

Bluestone Jewellery and Lifestyle manufactures and offers diamond, gold, platinum and studded jewellery products under its flagship brand name “Bluestone”. It is the second-largest digital-first omnichannel jewellery brand in India by FY24 revenues and operates as a digital-first direct-to-consumer (DTC) brand.

Bluestone Jewellery IPO aims to raise ₹1,540.6 crore through its public issue. The issue is 100% book-built and made up of a fresh issuance of 1.58 crore shares worth ₹820 crore and an offer-for-sale (OFS) component worth ₹720.6 crore.

The company has fixed the price band of the issue at ₹492 to ₹517 per share. The lot size, or the minimum bid quantity to apply for the issue, is 29 shares. This equates to a minimum investment amount of ₹14,993 per lot at the upper end of the price band for retail investors.

Bluestone Jewellery has appointed Axis Capital as the book-running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.

• Working capital: The company will utilise ₹750 crore to fund its working capital requirements.

• General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes.

Bluestone Jewellery retails products through its website & mobile application. The company’s total stores increased from 155 in FY23 to 275 in FY25, spanning 117 towns and cities. The store network comprises 200 company-owned stores and 75 franchisee stores, covering an aggregate area of over 605,000 sq ft, with all franchisee stores operated directly by the company. Meanwhile, the average order value for the company improved from ₹32,038 in FY23 to ₹47,671 crore in FY25, while the customer count increased to 7.71 lakh during the same period.