Indian jewellery startup Bluestone plans $118m IPO

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Indian jewellery startup Bluestone plans $118m IPO

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Bluestone, a jewellery startup based in Bengaluru, has obtained board approval for its IPO.

The company aims to raise 1,000 crore rupees (around US$118 million) at a valuation of 12,000 to 13,000 crore rupees (US$1.4 billion to US$1.5 billion).

Next week, Bluestone plans to file a draft red herring prospectus with the Securities and Exchange Board of India (SEBI).

The IPO will include a 15% stake sale through an offer for sale.

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