BlueStone Jewellery & Lifestyle IPO: Everything You Need to Know
After trimming its size, BlueStone Jewellery’s ₹1,540.65 crore IPO is set to open for public bidding from August 11th to August 13th, 2025. Blue Stone IPO marks a major milestone for the digital-first fine jewellery brand and gives investors a chance to invest in a rising consumer lifestyle play with strong omni-channel presence.
BlueStone IPO Date & Launch Details
- BlueStone IPO date: August 11th - 13th, 2025
- Anchor investor bidding: August 8th, 2025
- Expected listing date: August 19th, 2025 (BSE & NSE)
BlueStone IPO Price Band & Investment Details
- Price band: ₹492–₹517 per share (Face value: ₹1)
- Lot size: 29 shares (₹14,993 minimum investment at upper band)
BlueStone Jewellery IPO Details & Structure
Component | Details |
|---|---|
Total Issue Size | ₹1,540.65 crore |
Fresh Issue | ₹820 crore |
Offer for Sale (OFS) | ₹720.65 crore (~1.39 crore shares) |
OFS Sellers | Accel, Kalaari Capital, Saama Capital, Sunil Kant Munjal |
Retail Allocation | 10% (QIB: 75%, NII: 15%) |
Valuation& Market Sentiment
Metric | Details |
|---|---|
Implied Valuation | ~₹7,800 crore at upper price band |
Market Sentiment | Strong response due to brand value, omni-channel reach, and lifestyle segment positioning |
Key Considerations for Investors
- Omni-Channel Growth Engine: BlueStone has built a strong retail+digital model, with 275 stores across 117 cities as of March 2025, supporting rapid brand visibility and access.
- Not Yet Profitable: Despite ₹1,770 crore revenue in FY25, the company reported a net loss of ₹221.8 crore, driven by expansion and marketing spends. Profitability remains a medium-term goal.
- Use of Proceeds: ₹750 crore from the fresh issue is earmarked for working capital, with the rest for general corporate needs - critical for scaling inventory and store footprint.
- Prominent Investor Exit: The OFS includes early backers like Accel, Kalaari, Saama Capital, and Sunil Kant Munjal partially exiting. This brings liquidity but signals a shift in long-term ownership.
- Aggressive Valuation: At a ₹7,800 crore valuation, BlueStone is priced on future potential, especially compared to established players like Titan. Valuation-conscious investors should assess this premium.
- Low Retail Quota: Just 10% of the IPO is reserved for retail investors, limiting allotment scope. Majority allocation is directed to QIBs (75%) and NIIs (15%).
- Demand-sensitive Sector: As a lifestyle brand, BlueStone’s growth depends on festive, wedding, and discretionary demand cycles. Macro slowdowns or price volatility in gold may affect performance.
BlueStone Jewellery IPO Summary Table
Category | Details |
|---|---|
IPO Date | August 11- 3, 2025 |
Anchor Investor Date | August 8, 2025 |
Price Band | ₹492- ₹517 per share |
Lot Size (Retail) | 29 shares (₹14,993 at ₹517) |
Issue Size | ₹1,540.65 crore |
Fresh Issue | ₹820 crore |
Offer For Sale (OFS) | ₹720.65 crore |
Expected Listing Date | August 19, 2025 |
Valuation | ~₹7,800 crore |
Minimum Investment | ₹14,993 |
Listing Exchanges | BSE & NSE |
About BlueStone Jewellery
Founded in 2011, BlueStone Jewellery and Lifestyle Limited is a leading fine jewellery brand with a digital-first + physical retail hybrid model. It retails a wide range of diamond, gold, platinum, and studded jewellery under its flagship brand ‘BlueStone.’ It offers over 8,000 unique designs and has built a significant presence in both metros and tier-2 cities. As of FY24, it stands as India’s second-largest digital-first omnichannel jewellery brand by revenue, operating through a direct-to-consumer (D2C) model with a strong online-first approach.
Financials:
Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
FY25 | 1,770.0 | -221.8 | -665.8 | -828.1 | 4.13% |
FY24 | 1,265.8 | -142.2 | -181.2 | -262.8 | 4.19% |
FY23 | 770.7 | -167.2 | 27.1 | -44.0 | -7.3% |
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