BlueStone Jewellery & Lifestyle, a favourite among young shoppers, is hitting the stock market with its public issue. The Bengaluru-based company, launched in 2011, is well-known for elegant gold and studded jewellery for both men and women. With this IPO, BlueStone is ready for the next big step in its journey.
Anchor Investors Show Huge Interest
Just days before bidding began, BlueStone raised ₹693.3 crore from 20 major anchor investors. Big names like Goldman Sachs, Societe Generale, Nippon India, HDFC Life, Aditya Birla Sun Life, and Amansa Holdings have picked up stakes. Out of 1.34 crore shares allocated, domestic mutual funds received 27% via 11 schemes.
Key Details: IPO Size And Dates
- IPO size: ₹1,540.65 crore (Fresh issue: ₹820 crore; OFS: 1.39 crore shares worth ₹720.65 crore)
- Price band: ₹492 to ₹517 per share – the upper band values BlueStone close to $890 million
- Bidding dates: August 11–13, 2025
- Allotment date: August 14, 2025
- Listing: BSE and NSE, August 19, 2025
- Minimum investment: 1 lot (29 shares), approx ₹14,993.
Who Is Selling In The OFS?
Major venture capital investors like Kalaari Capital, Accel, and Hero Enterprise chairman Sunil Kant Munjal are selling part of their holdings. Promoters currently own only 18.28% of the company; the rest is held by public and institutional investors like Accel India, MIH Investments, Peak XV Partners, and Steadview Capital.
How Will BlueStone Use The Funds?
BlueStone wants to channel the fresh funds mainly for working capital, and to boost daily operations and expansion. The brand, already present in 275 stores across 117 cities, also runs three manufacturing centres in Mumbai, Jaipur, and Surat.
Fast Growing, But Still In Losses
For the year ending March 2025, BlueStone’s revenue surged 39.9% to ₹1,770 crore. However, net loss zoomed 56% to ₹221.8 crore, mostly due to heavy investment in offline stores and expansion.
What Should Investors Know?
- Only 10% of the IPO shares are reserved for retail investors; 75% is for big institutional investors.
- The company is growing quickly, but not yet profitable. Investors must think long-term.
- The GMP (grey market premium) is ₹16, showing moderate listing gain expectations.