BlueStone IPO: Jewellery Brand Nets INR 693 Cr From Anchor Investors

Ahead of the commencement of the bidding for its public issue on August 11, omnichannel jewellery brand BlueStone has raised INR 693.3 Cr from anchor investors.

The company allocated 1.34 Cr equity shares to 20 anchor investors, including Societe Generale, Goldman Sachs, Nippon India, New York State Teachers Retirement System, Amansa Holdings, Aditya Birla Sun Life Trustee, Motilal Oswal, HDFC Life Insurance Company, Mirrae Asset Management, among others.

The company allotted the shares at INR 517 per share, which is the upper end of the company’s IPO price band. 

Of the 1.34 Cr shares, 36.56 Lakh shares (or 27.27% of the total allocation) were allocated to six domestic mutual funds through a total of 11 schemes. 

BlueStone’s public issue will close on August 13. As per its red herring prospectus (RHP), the public issue will comprise a fresh issue of up to INR 820 Cr and an OFS component of up to 1.4 Cr shares. 

(The story will be updated soon)

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