BlueStone Jewellery and Lifestyle, the company behind the contemporary jewellery brand ‘BlueStone’, has secured over Rs. 693 crore from anchor investors, just days before its initial public offering (IPO) opens for subscription.
According to a BSE circular, the anchor book drew participation from major institutional investors, including Amansa Holdings, SBI Life Insurance, Nippon India Mutual Fund, Goldman Sachs, Aditya Birla Sun Life Mutual Fund, HDFC Life Insurance, Societe Generale, DSP India Mutual Fund, PGIM India Mutual Fund, Axis Mutual Fund, and Motilal Oswal Mutual Fund.
The company allotted more than 1.34 crore equity shares at Rs. 517 per share, taking the total transaction value to Rs. 693.29 crore.
IPO Details
The IPO, priced in the range of Rs. 492–Rs. 517 per share, will open on August 11 and close on August 13. It consists of a fresh issue worth Rs. 820 crore and an offer for sale (OFS) of 1,39,39,063 equity shares valued at Rs. 720.65 crore at the upper price band, bringing the total issue size to Rs. 1,540.65 crore. Sellers in the OFS include Kalaari Capital Partners II, Saama Capital II, Sunil Kant Munjal, and other Hero Enterprise Partner Ventures partners.
Proceeds from the fresh issue will be used for working capital and general corporate purposes.
Founded in 2011, the Bengaluru-based brand has grown to 275 stores across 117 cities in 26 states and Union Territories, serving over 12,600 PIN codes. BlueStone also operates three manufacturing units in Mumbai, Jaipur, and Surat.
Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers, and the equity shares will be listed on both BSE and NSE.
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