Bangalore-based Bluestone Jewellery is eyeing to raise more than USD 15 billion via Initial Public Offering (IPO). ET reported the news on February 27, 2022. Bluestone Jewellery is an online jewellery startup backed by Ratan Tata.

ICICI Securities, IIFL Securities, Jefferies and JM Financial Securities are the appointed investors’ bankers to manage its public issue.

About the IPO

The company will probably dilute its 10-12% stake via the proposed public listing. It consists of a fresh issue of shares and an offer for sale (OFS).

The proposed share sale of the Bluestone Jewellery will come to fruition in the second quarter of the new financial year.

One of the persons familiar with the matter reported to ET, “The company is seeking a valuation level that is not yet fixed and corroborated. It will likely file the DRHP (red herring prospectus) in a few months.”

The existing investors of the Bluestone Jewellery

Kalaari Capital leads Bluestone Jewellery’s existing private equity investors. Kalaari Capital will probably sell its holdings entirely or partly. The sale will take place through an offer for sale (OFS).

About the Bluestone Jewellery Startup

Gaurav Singh Kushwaha and Vidya Nataraj brought Bluestone Jewellery into existence in 2011. The Bangalore-based startup is known for its purity of valuable jewellery. 

Bluestone.com is the omnichannel fine jewellery platform of Bluestone Jewellery and Lifestyle Pvt Ltd. In 2014, Ratan Tata, chairman emeritus of Tata Sons Ltd, made a strategic investment in the Bluestone platform.

In 2018, the firm opened its first store in Pacific Mall, Delhi. Subsequently, they opened five more offline stores across Mumbai, Hyderabad and Chandigarh. Since then sales have boosted up. Hence the firm launched 1000-1500 sq ft stores on high streets. They also occupied 600-800 sq ft space in malls. These stores are all franchisee-owned and company-operated. A few weeks ago, the firm announced the launch of its manufacturing unit in Jaipur. Bluestone’s two existing manufacturing units are in Mumbai. The total work area for the unit is 12000 sq ft.

Bluestone is a recognised platform for high-quality fine jewellery and exquisite designs. They own more than 8000 unique designs. Besides, the startup offers a 30-day money-back guarantee, certified jewellery and lifetime exchange.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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