Ratan Tata, Nikhil Kamath backed Bluestone Jewellery to bring ₹2,000 IPO

BlueStone is all set to bring its IPO worth ₹2,000 crore. The company has announced the plan to raise funding through this public issue. BlueStone is backed by two reputed business personalities Tata Group Chairman Ratan Tata and Zerodha CEO Nikhil Kamath. Here are the details about BlueStone Jewellery IPO that will include the expected opening date of this initial public offering. The company had planned to go public in 2022 but due to some reason, the IPO was postponed.

BlueStone is prominently known as a Jewellery brand with a wide range of products. They have good market capitalisation and impressive financials as well. In this IPO which going to be opened soon by the company. As per the details, there will be 10-15 percent of stakes will be offered for sale with the fresh issue also. The exact number of shares in the fresh issue is yet to be announced by BlueStone.

Till now, the company has raised funding from several investors like Ratan Tata, Nikhil Kamath, Ranjan Pai, Amit Jain, Deepinder Goyal, and 360 One.

BlueStone is getting appear in the headlines after showcasing itself in the Shark Tank Season 3. The brand has introduced itself on the television screen through this show and raised funding from Zomato CEO Deepinder Goyal and CarDekho CEO Amit Jain. BlueStone is trying to stand itself like other names in the Industry such as Titan’s Tanishq brand, Kalyan Jewellers, and newly public Senco Gold. No doubt, this IPO going to grab the attention of retail investors and we can see the huge subscription for this Initial Public Offer.

Currently, BlueStone has offline footprints as well. They have had an offline store in Delhi’s Pacific Mall since 2018 and expanding to more locations across Mumbai. Till March 2023, BlueStone Jewellery had a 67 per cent increase in its revenue which was ₹771 crore compared to FY22’s revenue of ₹461 crore.