Reduced IPO offering by Accel-funded Bluestone Jewellery
Bluestone Jewellery and Lifestyle Reduce Initial Public Offering Size
In a recent development, Bluestone Jewellery and Lifestyle, an Accel India-backed company, have announced a reduction in the size of their initial public offering (IPO). The revised IPO size is now ₹820 crore, a decrease from the initial ₹1,000 crore.
The reduction in the IPO size is due to several factors, including revised financial projections, market readiness considerations, and a lower valuation compared to previous funding rounds. The fresh issue portion of the IPO now stands at ₹820 crore, while the offer-for-sale (OFS) shares from existing shareholders have been reduced from 24 million to 13.9 million shares.
The IPO, which launched on August 11, 2025, aims to raise ₹820 crore through fresh issuance, and an additional ₹720.6 crore from OFS. The proceeds from the offering will be used to fund working capital requirements and general corporate purposes.
Bluestone Jewellery and Lifestyle will issue specified securities in a pre-IPO placement, aggregating up to ₹2 billion. This pre-IPO placement will be conducted in consolidation with bookrunning lead managers, Axis Capital, IIFL Capital, and Kotak Mahindra Capital.
The IPO will close for bids on August 13, 2025. Anchor investors will bid for the share sale on August 8, 2025. It is worth noting that the initial IPO was seeking a valuation of at least ₹1,20,000 crore, but the revised valuation targeted is approximately ₹7,800 crore, lower than the ₹8,100 crore valuation from their last private funding round in 2024.
Bluestone Jewellery and Lifestyle are competing with established players like Titan, Kalyan Jewellers, and Tribhovandas Bhimji Zaveri among listed firms in India. The company's performance in the IPO will be closely watched by investors and industry experts alike.
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- The revised initial public offering (IPO) size of Bluestone Jewellery and Lifestyle is ₹820 crore, a decrease from the initial ₹1,000 crore, due to factors such as revised financial projections, market readiness considerations, and a lower valuation compared to previous funding rounds.
- The proceeds from the IPO will be used to fund working capital requirements and general corporate purposes, with a targeted valuation of approximately ₹7,800 crore, lower than the ₹8,100 crore valuation from their last private funding round in 2024.
