Financial Insights

BlueStone Jewellery, backed by Ratan Tata, plans for IPO

BlueStone Jewellery, which is backed by Ratan Tata, is planning an IPO worth Rs 1,500 crores. The company has hired ICICI Securities, IIFL Securities, Jefferies and JM Financial as bankers for the IPO.

BlueStone Jewellery is an omni-channel jewellery channel established in 2011. The company was founded by Mr. Gaurav Singh Kushwaha and offers over 8000 designs. The company makes exquisite jewellery with sleek designs and great focus on customer experience. The company is backed by several big names like Ratan Tata, Accel, Kalaari Capital, IvyCap Ventures, Dragoneer Investment group and several others.

The company is likely to dilute 10-12% and the issue, which will consist of both fresh shares and an OFS, is likely to be launched in the second quarter of FY2022-23. Several private equity investors are likely to sell the entirety of their holdings through the OFS.

The company recently launched its third manufacturing unit in Jaipur at an investment of $3 million. The new manufacturing unit will be able to process over 250kgs of gold every month. This is the company’s third manufacturing unit in India, the first 2 being in Mumbai.

Highlight by Aman Agarwal.

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