BlueStone Jewellery raises Rs 693 crore from anchor investors ahead of IPO
ADVERTISEMENT Institutional investors that participated in the anchor book included Amansa Holdings SBI Life Insurance Company, Nippon India Mutual Fund (MF), Goldman Sachs, Aditya Birla SunLife MF, HDFC Life Insurance Co Ltd, Societe Generale, DSP India MF, PGIM India MF, Axis MF and Motilal Oswal MF, according to a circular uploaded on BSE's website.
As per the circular, the company allocated over 1.34 crore equity shares at Rs 517 apiece to anchor investors aggregating the transaction size to Rs 693.29 crore. The issue, with a price band of Rs 492 to Rs 517 per share will be open for subscription on August 11 and conclude on August 13.
The IPO involves a fresh issue of Rs 820 crore and offer for sale (OFS) of 1,39,39,063 equity shares worth Rs 720.65 crore, at the upper end of the price band. This aggregates the transaction size to Rs 1,540.65 crore. Those selling shares through the OFS include Kalaari Capital Partners II, LLC, Saama Capital II, Ltd., Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and others. Proceeds from the fresh issue will be used to fund its working capital requirements and general corporate purposes.
ADVERTISEMENT The Bengaluru-based company introduced its 'BlueStone' brand in 2011 and has since grown into a leading name among jewellery retailers in the country. It has a network of 275 stores across 117 cities in 26 states and Union Territories, covering over 12,600 PIN codes across India as of March 31, 2025. The company operates three manufacturing facilities in Mumbai, Jaipur, and Surat.
Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE. PTI
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
a minute ago
- Indian Express
South Korean woman says Gurgaon mall cut utilities at her restaurant; police play mediator
For over a decade, South Korean national Hyeyoung Lee has been running her restaurant, MISO, at Global Foyer Mall on Gurgaon's Golf Course Road. Earlier this week, to her shock, she received a demand notice of Rs 9 lakh from the mall management for damage to the building caused by alleged water leakage from her restaurant. She refused to pay the amount — resulting in the disconnection of her electricity and water supply, police said. On Thursday, Lee lodged a written complaint against the mall management alleging harassment over wrongfully calculated unpaid dues. The firm that runs the mall refuted the claims. In a video posted by the woman on Instagram Friday, she said she's been running her restaurant for 12 years. 'For the last 24 hours, my light and water have been disconnected. I have made so many requests, but no one is listening. I had given a written complaint at Sushant Lok Police Station, but till now no one has come to help me out,' she stated in the video. On Friday, police arranged a meeting between the parties concerned at the Sushant Lok police station to discuss the issue. 'Despite the matter being of a civil nature, Gurugram police facilitated a meeting between the two sides. The dispute over electricity and water was resolved during the meeting. Both parties agreed to hold another meeting on Monday, in the presence of their legal teams, to address the pending Rs 9 lakh dispute,' a Gurgaon Police spokesperson said. The electricity connection was restored (for now) around 12.30 pm Saturday, the woman told The Indian Express. Lee (43), who has been living in Gurgaon since 2011, said she has been facing issues with the mall management since last October, when they allegedly began sending her inflated water bills. 'I've been receiving water bills of Rs 25,000 per month. When my restaurant was on the ground floor, it never exceeded Rs 5,000,' she claimed. She also alleged that the management is harassing her so that she vacates the premises, adding that she has three years left on her current lease. On August 5 (Tuesday), the realty company operating the mall issued a 'final and non-negotiable' notice to the restaurant alleging multiple breaches — that its water leakage caused Rs 9.5 lakh damage to passenger lifts, and Rs 2 lakh damage to the false ceiling, risking collapse. It demanded that the payment be made within 24 hours and threatened disconnection of services, legal action, and eviction if it was not met. Lee refuted the allegations. 'The leak is from one of their pipelines. There are no pending bills, our accountants have tallied and verified multiple times.' The water leak has also destroyed parts of her restaurant, she claimed. Dhirendra Singh, director of Rajdurbar Buildcon Private Limited, which runs the mall through a holding company, told The Indian Express Saturday that the matter has been resolved. He rejected all allegations, particularly of wrongful bills being demanded and plans to evict the restaurant. 'They have accepted their dues amounting to around Rs 12 lakh+GST,' he claimed. 'There are a hundred other shops in the mall, and no one else has ever filed any complaint against us. Why would I create issues towards getting rental income?' he added.
India.com
a minute ago
- India.com
8th Pay Commission update: What is ToR? without which 8th Pay Commission can't be implemented, how will it increase central govt employees salary?
8th Pay Commission Latest Update: As inflation increases every year, many central government employees are waiting for a salary revision. The government has finally given approval to the 8th Pay Commission, which means salary, pension, and allowance hikes are possible. However the process has many steps one of which is the Terms of Reference (ToR) which has not yet been cleared. So now everything is dependent on the approval of the ToR. Shiv Gopal Mishra, Secretary (Staff Side) of the National Council–Joint Advisory Mechanism, told NDTV Profit that the ToR is expected to be approved 'at the earliest.' What Is ToR? ToR, or Terms of Reference , is a document that defines the scope of work for a commission, particularly a pay commission. It also specifies the issues the commission must address like pay structure, allowances, pensions, etc. It can be considered as a blueprint or set of guidelines for the commission's work. Without the ToR, a pay commission does not get official recognition, meaning it cannot formally begin its work. The ToR provides clear direction on what recommendations the commission must make and within what limits it must operate. Without it, the commission's formation is considered incomplete. How ToR Will Benefit Central Govt Employees? The 8th Pay Commission will directly benefit around 50 lakh central government employees and 65 lakh pensioners, including those from the defence sector and their pensioners. In total, nearly 1 crore people will see financial gains. The government expects the commission's report to be ready by the end of 2025 and implemented from January 2026. If everything goes according to schedule within one and a half years, employees' salaries and pensions might be increased. How Is Salary Calculated? Central government employees' salaries have four main components: Basic Pay: Around 51.5% Dearness Allowance (DA): Around 30.9% House Rent Allowance (HRA): Around 15.4% Travel Allowance: Around 2.2% How Much Salary Will Increase? Under the new pay commission, salaries and pensions are expected to rise by 30–34%. Currently, the minimum salary is Rs 18,000, which could increase to around Rs 32,940 (if the fitment factor is 1.83) or even Rs 44,280 (if it is 2.46). Additionally, the DA is likely to be increased twice before the commission is implemented, which could take it to nearly 60%.
&w=3840&q=100)
Business Standard
a minute ago
- Business Standard
Doms Industries jumps 8% on Q1 beat, positive outlook; JM Fin says 'Buy'
Doms Industries share price today: Shares of stationery company Doms Industries surged 8 per cent to hit an intraday high of ₹2,468.5 on the NSE after it reported better-than-expected earnings in the June 2025 quarter (Q1FY26) and recovery in its core business. At 10:55 AM, Doms Industries stock was trading 7.3 per cent higher at ₹2,453.8 per share on the NSE. In comparison, NSE Nifty50 was up 0.4 per cent at 24,461 levels. The market capitalisation of the company stood at ₹14,924 crore. The stock has recovered 18 per cent from the 52-week low of ₹2,092 touched on January 28, 2025. Doms Industries Q1 results In the June 2025 quarter (Q1FY26), Doms Industries posted consolidated revenue from operations of ₹562.3 crore, up 26.4 per cent year-on-year (Y-o-Y) from ₹445 crore. The company's earnings before interest, tax, depreciation and amortisation grew 14.3 per cent to ₹98.7 crore from 86.4 crore in the year-ago period. It posted profit after tax (PAT) of ₹59.1 crore, up 8.8 per cent Y-o-Y from ₹54.3 crore. JM Financial on Doms Industries According to analysts at JM Financial, the company's crore stationery business growth was 18 per cent, better than 14 per cent seen in the previous quarter, and incremental growth was led by higher sales from the recently acquired Uniclan business. Additionally, within core business, while the combined gross revenue of Scholastic stationery, Scholastic art material & Kits & combos grew by 6.4 per cent, strong momentum in Pens, Paper stationery and Hobby & craft resulted in high teen's growth for the overall stationery business, which is a key positive. Uniclan's performance was on expected lines, aided by additions in capacity & channel partners, the brokerage said in a note. On a conservative basis, the company management is expecting consolidated sales growth of 18-20 per cent, Ebitda margin of 16.5-17.5 per cent and PAT margin of 10 per cent for FY26E. "We like Doms' execution so far as well as its strategy of increasing total addressable market (TAM) and extending to additional categories (like toys, bags, baby care, etc.). Going ahead, the pace of commissioning of new capacities will be key for acceleration in writing instruments. Execution on Paper stationery & Uniclan business (distribution expansion) over the medium term will be another key monitorable," JM Financial said in a note. The brokerage has maintained a 'Buy' rating on the stock with a target price of ₹2,845. About Doms Industries Incorporated in 2006, Doms Industries is engaged in the manufacturing, marketing, trading, and distribution of stationery and art products. The Gujarat-based company designs, develops, manufactures, and sells a variety of products categorised into scholastic stationery, scholastic art materials, paper stationery, office supplies, hobby and craft products, fine art products, and kits and combos. Its products are primarily sold under the flagship brand 'DOMS', as well as through other brands, like C3, Amariz, FixyFix & ClapJoy. Doms Industries has a presence across 28 States and 8 union territories of India as well as in more than 50 countries globally, covering America, Africa, Asia Pacific, Europe and the Middle East.
