&w=3840&q=100)
BlueStone Jewellery IPO subscribed 39% on first day of public issue
The three-day IPO received bids for 63,89,570 shares against 1,65,14,421 shares on offer, according to data available with the NSE.
Qualified Institutional Buyers (QIBs) part fetched 57 per cent subscription while the quota for Retail Individual Investors (RIIs) got subscribed 38 per cent. The category for non-institutional investors received 4 per cent subscription.
BlueStone Jewellery and Lifestyle on Friday raised over ₹693 crore from anchor investors.
The issue, with a price band of ₹492 to ₹517 per share, will conclude on August 13.
The initial public offer (IPO) involves a fresh issue of ₹820 crore and offer for sale (OFS) of 1,39,39,063 equity shares worth₹ 720.65 crore, at the upper end of the price band. This aggregates the transaction size to ₹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.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
State signs Rs42k cr investment agreements to boost industry, job creation
Nagpur: The state govt has signed memorandums of understanding (MoUs) worth Rs42,000 crore of investment proposals. This includes a Rs10,900 crore solar power equipment project by Jupiter International Limited, and a Rs4,300 crore integrated steel plant in Chandrapur by Vow Iron and Steel Private Limited, a Nagpur-based company. Tired of too many ads? go ad free now Jupiter International, which has proposed a Rs10,900 crore investment creating more than 8,300 jobs, plans to set up a solar water, solar cell, and modules manufacturing unit at Butibori. The state sees this as a move towards propelling Maharashtra into a leadership position in renewable energy. Jupiter International is a West Bengal-based company. TOI reported its plans to start a solar cells unit in Nagpur on August 18. The MoU was signed the day after. Vow Iron and Steel will be setting up the integrated steel plant at Gondpipri in Chandrapur. The company proposes to create 1,500 jobs in this project. With Gadchiroli emerging as the preferred destination for the steel industry, the project is also expected to boost industrial development of Chandrapur district. The company has Ujwal Pagariya and Ankit Pagariya at the helm as directors. Webmint Digital Private Limited, which also has the Pagariyas as promoters, also signed an MoU for a data centre in the Taloja Industrial area in Pune with an investment of Rs4,846 crore, creating 2,050 jobs. Around 26,000 jobs are proposed to be created with all the MoUs clubbed. Chairman of the Confederation of Small Industry Associations (COSIA) Julfesh Shah said as MoUs mark the industrial development of the region, it must be ensured that it translates into actual investment at the earliest. The state must also come up with the much-awaited new industrial policy. As the state signed eight different MoUs, the majority of the proposals included setting up data centres. Most of the companies have kept the choice of location open, said a source.
Economic Times
an hour ago
- Economic Times
Inox Wind sells Rs 175 cr stake in EPC subsidiary at ₹7,400 cr valuation
Wind energy solutions provider, Inox Wind (IWL), on Tuesday said it has sold a stake worth ₹175 crore in its EPC subsidiary, Inox Renewable Solutions (formerly Resco Global Wind Services), to investors at a valuation of ₹7,400 crore. The company did not disclose who these investors are. This latest development comes after the National Company Law Tribunal approved the merger of Inox Wind Energy (IWEL) into IWL on June 10, 2025, strengthening the company's balance sheet by reducing liabilities by about ₹2,050 crore. Last September, Inox Renewable Solutions had approved a ₹350 crore equity raise from investors for a single-digit stake. Inox Renewable Solutions offers end-to-end services for wind projects right from the conceptualisation stage up to project commissioning, as well as the construction of transmission infrastructure to evacuate power from such projects, offering turnkey solutions to developers on a plug-and-play basis. It provides services across India with a strong presence in Western India. It is developing common infrastructure on the multi-gigawatt scale at sites across the country, to be utilised for future renewable projects. Inox Wind's scrip ended at ₹144.40 up 3.18% on the BSE, Tuesday.
Time of India
an hour ago
- Time of India
Postmen to seek OTP, payments via UPI as India Post steps up to compete with e-commerce couriers
Gurgaon: With India's fast-changing delivery landscape, the Department of Posts is working to soon launch sweeping reforms that will bring it closer in line with private courier companies and e-commerce logistics giants. Postmen delivering letters and parcels will now rely on mobile-based OTPs (One-Time Passwords) instead of signatures for verification, while customers will also be able to make payments through UPI, cutting down on cash transactions. Officials say the reforms are part of Advanced Postal Technology 2.0, a modernised framework already activated in the Gurgaon postal circle. The system integrates 5G-enabled tools, real-time tracking, and digital payment options—features long associated with private e-commerce companies and other courier firms. "With the new software, OTP-based delivery has started. This will enhance accuracy and minimise errors in parcel delivery," said Sumit Gad, senior superintendent of post offices, Gurgaon division. "The idea is to make India Post as seamless and transparent as any e-commerce logistics network," he added. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon | Gold Rates Today in Gurgaon | Silver Rates Today in Gurgaon For decades, postal deliveries were verified through handwritten signatures — a system often marred by delays and complaints. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Egypt Solar Panels: See How Much It Will Cost To Install Them (See Prices) Solar Panel | Search Ads Learn More Undo Now, for all such services, including registered letters, speed post, or e-commerce parcels, recipients will receive an OTP on their mobile number to be shared with the postman. The department has also unveiled a UPI-based digital payment system to facilitate instant, cashless doorstep transactions, allowing receivers to use QR codes and UPI apps to make payments. Furthermore, India Post Payments Bank (IPPB) has also deepened its rural presence. Villages that once depended on money orders are today using Aadhaar-enabled banking, doorstep insurance, and digital payments via the postal network. Experts believe this renewed push will help India Post capture a bigger slice of the booming e-commerce-driven logistics market while retaining its traditional role as the trusted messenger for the people. "The challenge is to match the speed and reliability of private couriers," an industry analyst said, adding, "But with reforms like OTP deliveries, UPI integration, and real-time tracking, India Post is showing it is ready to compete. " Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
