Bengaluru-based jewellery retailer BlueStone Jewellery and Lifestyle has filed its DRHP with SEBI. It plans to allocate Rs 750 crore from the fresh issue towards working capital requirements and general corporate purposes.
BlueStone Jewellery and Lifestyle has filed for an IPO to raise funds through a fresh issue and an offer for sale. The company plans to use the proceeds for working capital and expansion. BlueStone operates 203 stores across India and saw significant revenue growth in FY24.
The platform will compete with market leaders like Zerodha and Groww. According to latest data collated by Motilal Oswal, the market share of Groww stood at 25.1%, while Zerodha’s slipped to 17.1% in July.
Apart from Infosys, Rategain shares also hit 52-week high after the stock rallied to Rs 411.15 intraday. Tech Mahindra, Starlite Components, Megasoft were among other scrips that hit 52-week high.