BlueStone Jewellery Raises Rs 693 Crore From Anchor Investors Prior To IPO Launch
Six domestic mutual funds have applied through 11 schemes.
BlueStone Jewellery & Lifestyle Ltd. raised Rs 693 crore from anchor investors on Friday, ahead of its initial public offering. The company allotted 1.34 crore shares at Rs 517 apiece to 20 anchor investors.
Amansa Holdings Pvt. got the highest allocation of 24.40%. SBI Life Insurance Co. got the second highest allotment of 20.60% and Nippon Life India Trustee Ltd.- A/C Nippon India Small Cap Fund got 14.43% stake in the company.
Six domestic mutual funds have applied through 11 schemes, the jewellery brand said in an exchange filing on Friday. They have collectively netted 27.27% of the anchor portion. SBI Banking and Financial Services, Nippon Life India, Axis Bank and Motilal Oswal were the major fund houses in this category.
Axis Capital Ltd., IIFL Capital Services Ltd., and Kotak Mahindra Capital Co. are the book-running lead managers to the issue.
The company will launch its initial public offering on Monday to raise up to Rs 820 crore in fresh issue and with an offer for sale of up to 1.39 crore shares. The company has set a price band of Rs 492 to Rs 517 per share for its three-day IPO. The minimum application lot size is 14 shares.
The offer, which concludes on Friday, is set to list on the BSE and the National Stock Exchange.
JSW Cement will utilise Rs 800 crore from the fresh issue to partly finance a new integrated cement unit at Nagaur, Rajasthan, and Rs 520 crore for repayment of debt.
The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
The company reported a net loss of Rs 221.84 crore in FY25, compared to a net loss of Rs 142.24 crore in FY24. Its revenue increased 39.8% year-on-year to Rs 1,770 crore in FY25 from Rs 1,265.84 crore in FY24. Ebitda rose 37.9% YoY to Rs 73.16 crore in FY25 from Rs 53.05 crore in FY24.
