India, Aug. 7 -- New-age jewellery company BlueStone has set a price range of INR 492 to INR 517 for its upcoming IPO. With this, the company which was reported to have been eyeing the unicorn tag in the run up to its IPO, is targeting a valuation of about INR 7,800 Cr ($890 Mn) at the upper end of the price band.

In June, it was reported that BlueStone was targeting a unicorn valuation of INR 11,500 Cr ($1.15 Bn) in its pre-IPO round. However, this round didn't materialise.

The IPO valuation is also an over 8% cut from the jewellery brand's last private valuation. The company attained a valuation of $970 Mn in August 2024 when it raised INR 900 Cr from investors like Peak XV Partners, Prosus, among others.

BlueStone has also undertake...