BlueStone cuts IPO size to Rs 820 crore, to launch issue on August 11

Omnichannel jewellery retailer BlueStone Jewellery & Lifestyle has reduced the size of its initial public offering (IPO) as per a revised red herring prospectus filed by the company. The Bengaluru-based company is now looking to raise Rs 820 crore in primary capital against Rs 1,000 crore that it had originally planned.

According to sources, the company is likely to go public at a valuation of around Rs 7,800 crore, which is less than its last private funding in August 2024, when it raised at a valuation of Rs 8,100 crore.

The offer-for-sale (OFS)…