As anticipation builds for its initial public offering (IPO) slated to open on August 11, Bluestone, one of India’s leading omnichannel jewellery brands, has successfully raised ₹693.3 crore from prominent anchor investors. This pre-IPO anchor round sets a strong tone for the public issue, reflecting investor confidence in the company’s business model and long-term growth potential.
Major Institutional Backing Ahead of IPO
Bluestone allocated 1.34 crore equity shares to a diverse set of 20 marquee anchor investors at ₹517 per share, which is the upper limit of the IPO price band. The overwhelming demand from institutional investors indicates a robust appetite for quality consumer-focused brands with strong omnichannel strategies.
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Notable global and domestic institutions that participated in the anchor round include:
- Societe Generale
- Goldman Sachs
- Nippon India Mutual Fund
- New York State Teachers’ Retirement System
- Amansa Holdings
- Aditya Birla Sun Life Trustee
- Motilal Oswal
- HDFC Life Insurance Company
- Mirae Asset Management
This broad participation from both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) provides credibility and momentum to Bluestone’s upcoming IPO.
Strong Domestic Mutual Fund Interest
Of the total 1.34 crore shares, approximately 36.56 lakh shares (27.27%) were allocated to six domestic mutual funds through a total of 11 different schemes. This level of participation from the Indian mutual fund industry underscores growing confidence in India’s luxury and lifestyle consumption story, particularly in sectors like jewellery, which are witnessing a strong post-pandemic revival.
About Bluestone: A Digital-First Jewellery Brand
Founded in 2011, Bluestone has emerged as one of the top omnichannel players in India’s organised jewellery market. Known for its elegant designs, tech-integrated customer experience, and strong e-commerce presence, the company operates both online and through physical retail showrooms in multiple cities. Its hybrid model has allowed it to tap into India’s rapidly expanding digital consumer base while maintaining traditional customer trust through brick-and-mortar stores.
The proceeds from the IPO are expected to be used for expanding retail operations, technology infrastructure, and working capital needs, as Bluestone aims to deepen its footprint across Tier-1 and Tier-2 cities.
IPO Outlook: Riding on Robust Demand
Bluestone’s successful anchor book allocation at the upper price band suggests strong potential listing gains and sustained investor interest. With Indian capital markets remaining buoyant and retail investors showing keen interest in lifestyle and D2C brands, the IPO is expected to attract considerable attention.
Investors and market watchers will now closely monitor the public bidding phase starting August 11, which will further test the market’s appetite for premium consumer retail brands like Bluestone.
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