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News Topical, Digital Desk : The country's well-known jewelry company BlueStone Jewellery & Lifestyle Ltd. is going to launch its IPO. The company aims to be listed on the stock market at a valuation of around ₹7,800 crore (about $888 million). The IPO will be open for subscription from August 11 to August 13, while booking for anchor investors will be done on August 8.
IPO structure - Know who is selling shares?
The IPO will have two parts:- Fresh Issue: ₹820 crore
Offer for Sale (OFS): 1.39 crore equity shares (13,939,063 shares)
These major investors will sell shares in OFS:- Accel Partners - 11.68%
Sunil Kant Munjal (Hero Group) - 5.61%
Kalaari Capital - 5.12%- Apart from this, Saama Capital, IvyCap Ventures, IronPillar Fund are also selling investors.
BlueStone founder Gaurav Singh Kushwaha (IIT Delhi Alumni and former Amazon executive) has a 17.7% stake.
Where will the money raised from the IPO be used?
The company has said that the money raised from the IPO will be used for:- Working capital requirements and general corporate purposes. Business Model and Expansion- BlueStone is an omni-channel jewellery brand that sells diamond, gold, platinum and studded jewellery. The company has an online presence on its website and apps (iOS and Android). Along with this, 225 retail stores (by March 2025) are spread across 117 cities. Who all are included in the IPO? Lead Managers: Axis Capital, Kotak Mahindra Capital, IIFL Capital Legal Advisor: Trilegal Sector and competition BlueStone will compete with these listed companies: Titan Company Kalyan Jewellers IGIL PC Jewellers PN Gadgil Recently, two more companies of this sector were in the news: -Lalithaa Jewellery Mart (filed IPO of ₹1,700 crore). Shanti Gold International (Listing at 15% premium) What is special for investors? The company is rapidly expanding its retail network and is moving towards profitability. Large funds and valuations indicate that BlueStone is at a crucial juncture in its growth phase. The OFS portion is large, meaning existing investors are booking profits. In such a situation, it will be important to keep an eye on the long-term outlook.
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