Accel-backed Bluestone Jewellery cuts India IPO size

India’s Bluestone Jewellery and Lifestyle has trimmed the size of its initial public offering. The Accel India-backed company will now issue fresh shares worth 8.2 billion rupees (about $93 million), down from 10 billion rupees earlier.

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Its existing shareholders, including venture capital firms Accel India and Kalaari Capital, will now sell 13.9 million shares in the offering, lower than the 24 million shares proposed earlier.