BlueStone Jewellery and Lifestyle has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The company’s proposed IPO is a combination of fresh issue of shares of up to Rs 1,000 crore and an offer for sale of up to 2,39,86,883 shares.
From the proceeds, around Rs 750 crore will be used to fund working capital requirements and for general corporate purposes. Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are book-running lead managers to the issue.
BlueStone is one of India's largest e-commerce portal for fine jewellery. By seamlessly integrating online and physical retail channels, BlueStone has transformed the way consumers experience jewellery shopping.
