BlueStone Jewellery IPO is a book-building issue of Rs. 1,540.65 crores, comprising a fresh issue of 1.59 crore shares worth Rs. 820 crores and an offer for sale of 1.39 crore shares aggregating Rs. 720.65 crores. The issue opens on August 11, 2025 and closes on August 13, 2025. Tentative listing on BSE and NSE is scheduled for August 19, 2025, with allotment expected on August 14, 2025.

Table of Contents

Latest IPO updates

Grey market premium is expected soon

Who are the promoters of BlueStone Jewellery IPO?   
Gaurav Singh Kushwaha is the promoter of the company.

 

What are the Objects of BlueStone Jewellery IPO?

The Offer comprises of a Fresh Issue of Equity Shares and an Offer for Sale.
+Funding our working capital requirements Rs. 750 Cr.
+General Corporate Purposes

 

What is the business of BlueStone Jewellery?

BlueStone Jewellery and Lifestyle Limited is a leading omni-channel jewellery brand in India, manufacturing and retailing diamond, gold, platinum, and studded jewellery under its flagship brand BlueStone. As on March 31, 2025, the company has a strong pan-India footprint with 275 stores across 117 cities in 26 States and Union Territories, catering to over 12,600 PIN codes.

Its retail network includes 200 company-owned outlets and 75 franchisee stores, covering a total retail space of more than 6.05 lakh sq. ft. BlueStone offers a wide assortment of products — rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains — across multiple price points. The brand boasts 91 exclusive collections designed around distinct themes.

Competitive Strengths

  • Leading digital-first jewellery brand with strong omni-channel presence.

  • In-house technology driving end-to-end operations.

  • Unique approach to product design and collections.

  • Advanced manufacturing with vertically integrated processes.

  • Extensive reach across Tier-I, Tier-II, and Tier-III cities with healthy unit economics.

  • Founder-driven company, backed by marquee investors and professional management.

 

BlueStone Jewellery IPO details

 
IPO opens on  11 August 2025
IPO closes on  13 August 2025 
Issue Type Book Built Issue IPO
Issue Size 29799,798 Shares /
Rs 1540.65 Crore
* Fresh Issue Rs 820 Crore
* Offer for Sale  Rs 720.65 Crore
   
Face Value per share: Rs. 1
Price Band  Rs. 492-517
Retail Discount  Rs 0 per share
Employee discount  Rs. – per share
Retail Lot Size  29 Shares
Listing will at  BSE, NSE

How are the shares offered in this IPO?

Investor Category Shares Offered
QIB Not less than 75% of the Offer
Retail  Not more than 10% of the Offer
NII  Not more than 15% of the Offer

How shares can be applied in this IPO?

Application Lots Shares Amount
Rs.
Retail (Min) 1 29 14,993
Retail (Max) 13 377 1,94,909
S-HNI (Min) 14 406 2,09,902
S-HNI (Max) 66 1,914 9,89,538
B-HNI (Min) 67 1,943 10,04,531

BlueStone Jewellery Timetable

 
IPO opens on 11 August 2025
IPO Closes on 13 August 2025
IPO Allotment on 14 August 2025
Unblocking of Asba 18 August 2025
Credit of Shares 18 August 2025
Listing of Shares 19 August 2025
Registered Office of the company
BlueStone Jewellery & Lifestyle Ltd.
Site No. 89/2, Lava Kusha Arcade,
Munnekolal Village, Outer Ring Road,
Marathahalli
Bangalore Urban, Karnataka, 560037
Lead Managers of the IPO
Axis Capital ltd
IIFL Capital SErvices ltd
Kotak Mahindra Capital Ltd
Registrar to IPO
Kfin Technologies ltd

BlueStone Jewellery Financial Snapshot

Period Ended 31-Mar-25 31-Mar-24 31-Mar-23
Assets 3,532.28 2,453.49 1,255.49
Total Income 1,830.04 1,303.49 787.89
Profit After Tax -221.84 -142.24 -167.24
EBITDA 73.16 53.05 -56.03
Reserves and Surplus 877.12 346.28 -81.06
Total Borrowing 728.62 430.43 228.42
Amount in Rs. Crore

Key Financial Indictors

KPI Values
ROE -34.53%
ROCE -3.67%
Debt/Equity 0.8
RoNW -24.45%
PAT Margin -12.53%
EBITDA Margin 4.13%
Price to Book Value 2.01

How BlueStone Jewellery IPO compares with the Peers?

Company Name P/E (x) RoNW (%)
Bluestone Jewellery and Lifestyle   -24.45
Titan Company 88.14 28.71
Kalyan Jewellers India 84.1 14.87
Senco Gold 31.17 8.09
Thangamayil Jewellery 45.47 11.07
PC Jeweller 22.7 9.33

 

# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

BlueStone Jewellery IPO Guidance by Paresh Gordhandas, CA & Research Analyst.

Quicklinks

Q1. What does BlueStone Jewellery do?

BlueStone Jewellery and Lifestyle Limited manufactures and retails gold, diamond, and platinum jewellery through its omni-channel platform, offering over 7,400 designs across 91 themed collections.

Q2. What is the size and structure of the BlueStone IPO?

The IPO size is Rs. 1,540.65 crore, which includes a fresh issue of Rs. 820 crore and an offer for sale (OFS) worth Rs. 720.65 crore.

Q3. What are the BlueStone IPO dates?

The IPO opens for subscription on August 11, 2025, and closes on August 13, 2025. Tentative listing is scheduled for August 19, 2025.

Q4. What is the price band and lot size of the BlueStone IPO?

The price band is fixed at Rs. 492 to Rs. 517 per share. The lot size for retail investors is 29 shares, requiring a minimum investment of Rs. 14,268.

Q5. Is BlueStone IPO worth investing in?

BlueStone has strong branding and investor backing but remains loss-making as of FY25. Investors should evaluate long-term potential and risks before subscribing.

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