Jewellery retailer Bluestone files DRHP for IPO
draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), through which it is looking to raise Rs 1,000 crore in fresh capital.
The IPO also includes an offer-for-sale (OFS) component through which investors such as Accel, Saama Capital, Kalaari Capital, and Hero Group’s Sunil Kant Munjal are looking to divest a total of 24 million shares.
ET was the first to report on December 6 about Bluestone’s board approving the company’s plan to go public and raise Rs 1,000 crore through the process.
The company, which reported a64% jump in its operating revenue for FY24, said it is planning to deploy the proceeds from its IPO towards working capital requirements.
Bluestone reported revenue of Rs 1,268 crore in FY24, while its net loss narrowed by around 15% to Rs 142.2 crore.
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