Bluestone Jewellery files for an IPO to raise $118M, seeing revenue surge despite a net loss.

Bluestone Jewellery, a Bengaluru-based retailer, has filed for an IPO to raise about $118 million, including shares sold by existing investors. The company reported a 64% jump in revenue to Rs 1,268 crore in the fiscal year 2024 but had a net loss of Rs 142.2 crore. Bluestone operates 203 stores across India and plans to use the funds for working capital. The IPO could value the company at up to Rs 13,000 crore.

3 months ago
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