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Last week, internet-first jewellery start-up BlueStone filed its Draft Red Herring Prospectus. The Bengaluru-headquartered company, which plans to raise Rs 1000 crore through a fresh issue, is reportedly eyeing a valuation of Rs 12,000 crore (~$1.4 billion)—a nearly 50% premium to its current Rs 8,200 crore valuation. While its final IPO price will depend on market demand during the book-building process. According to reports, the shares will be priced at Rs 550-600.
The company’s IPO is certainly noteworthy since it is the country’s first internet-first jewellery brand without the backing of an established jewellery player to test the public markets.
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