BlueStone Eyes INR 1000 Crore IPO Amid Strong Growth

BlueStone, a leading Indian omnichannel jewelry retailer, has received board approval for an INR 1000 crore initial public offering (IPO). Following a successful INR 900 crore pre-IPO funding round in August, which doubled its valuation to $970 million, the company plans to expand aggressively by increasing its stores from 220 to 400 within 18 months. BlueStone reported a robust revenue of INR 1,303.4 crore in FY24, growing by 65% year-on-year. Backed by investors like Accel and Prosus, this IPO positions BlueStone as a key player in India’s booming jewelry market.