BlueStone Jewellery -- backed by Tata Group Chairman Ratan Tata and Zerodha co- founder Nikhil Kamath, plans to raise around ₹2,000 crore through an initial public offering (IPO) ), according to a ET report.
The online-first jeweller is seeking pitches from investment bankers to market the IPO that is likely to involve diluting a 10-15 per cent stake, comprising a fresh issue of shares and an offer for sale (OFS). The company initially planned to go public in 2022 but postponed the plans and instead raised funds from private equity (PE) firms.
Last year, BlueStone attracted ₹550 crore in investments from a mix of longstanding and new investors, such as Nikhil Kamath, Ranjan Pai, Amit Jain, Deepinder Goyal, and 360 One, achieving a net valuation close to $440 million. This followed a $30 million funding round in 2022 led by Sunil Kant Munjal of Hero Enterprise, valuing the company at $410 million
Presently, BlueStone has over 180 points of sale nationwide and offers an extensive catalogue of over 8,000 unique jewellery designs. The company has jewellery manufacturing units in Mumbai, Jaipur and other places
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