BlueStone Jewellery and Lifestyle, a contemporary lifestyle jeweler, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The company aims to raise funds through a combination of a fresh issue of shares and an offer for sale (OFS).
The IPO will consist of a fresh issue of shares valued at up to INR 1,000 crore, alongside an OFS of up to 23,986,883 equity shares. The OFS will see shares sold by major stakeholders, including Kalaari Capital Partners II (up to 7,073,980 shares), Saama Capital II (up to 4,100,970 shares), and Sunil Kant Munjal of Hero Enterprise Partner Ventures, along with other partners and shareholders (up to 4,000,000 shares).
BlueStone plans to use up to INR 750 crore from the fresh issue to meet capital requirements and cover other corporate expenses.
The IPO will be offered through the book-building process, with at least 75% of the net offer allocated to qualified institutional buyers (QIBs), 15% to non-institutional investors, and 10% to retail individual investors.
Founded in Bengaluru, BlueStone is known for its wide range of jewelry catering to women, men, and couples aged 25-45, primarily through online channels. The brand currently operates 110 company-owned stores and 93 franchised outlets.
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