City-based jewellery brand BlueStone Jewellery and Lifestyle has filed its DRHP with capital markets regulator the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO) seeking to raise ₹1,000 crore.
The IPO with a face value of ₹1 is a mix of fresh issue of shares up to ₹1,000 crore and an offer for sale of up to 2,39,86,883 equity shares by selling shareholders, according to a company communique.
Offer for Sale consisted of shareholders selling shares up to 70,73,980 by Kalaari Capital Partners II, up to 41,00,970 by Saama Capital II, and up to 40,00,000 shares by Sunil Kant Munjal (other partners of Hero Enterprise Partner Ventures) and other selling shareholders, it said.
The proceeds from the fresh issue to the extent of ₹750 crore would be used to fund BlueStone’s working capital requirements and general corporate purposes.
The IPO is being made through the book-building process, wherein not less than 75% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is allocated to non-institutional and retail individual investors respectively, as per the company.
Published – December 12, 2024 11:42 pm IST
