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BlueStone Jewellery & Lifestyle Limited IPO
BlueStone Jewellery & Lifestyle Limited IPO is of ₹1,540.65 crores, consisting of 1.59 crore fresh equity shares worth ₹820.00 crores and 1.39 crore offer-for-sale shares of ₹720.65 crores. The IPO is available to be subscribed to publicly between 11th August, 2025 to 13th August, 2025. Retail investors can apply for a minimum lot size of 29 shares, which will be of ₹14,268. Allotment will be completed on 14th August, 2025 with the shares likely to be listed on the NSE and BSE platforms on 19th August 2025.
Company Background
BlueStone was established in 2011 and became one of India’s fastest-growing fine jewellery brands. It operates on a D2C model which incorporates both online and physical retail, that would enhance the customer’s shopping experience. BlueStone is the second-largest digital-first omnichannel jewellery provider in India. The company is strongly dedicated to providing a convenient shopping experience to its customers through the availability of Lifetime exchange and Buyback options. Their extensive collection of jewellery can be accessed by customers through their website and through offline retail stores.
Operations & Product Range
Facility and Services
The company operates 3 manufacturing units located in Mumbai, Jaipur and Surat that help with the production of fine jewellery for the brand. BlueStone's latest unit in Jaipur is spread across 20,000 square feet with a production capacity of more than 250 Kilograms of gold per month. The company’s production times have been reduced by approximately 40% by the incorporation of advanced machinery and cutting-edge technology to meet the global quality standards. With various certifications like BIS Hallmark, GSI, IGI and SGL, BlueStone guarantees 100% certified jewellery designs.
Brands and Market Presence
The company operates about 275 stores in more than 100 cities in India. It also offers over 7,400 designs that are certified and made of gold, platinum, diamonds, as well as gemstones. BlueStone’s manufacturing units in Maharashtra, Rajasthan and Gujarat produce about 75% of its jewellery in-house, ensuring quality and enabling timely delivery. The jewellery provider company combines a strong digital platform with a vast physical presence, making it a notable name in India’s jewellery market.
Revenue Channels
The company registered a revenue of ₹1,770 crore in FY25 and a majority of the same came from sales of studded jewellery through its omni-channel retail network and digital platforms. BlueStone generates its revenue through channels like -
- Retail Sales through an omnichannel network that supports exploration on online websites and purchase from offline and online modes. The retail channel comprises stores managed by BlueStone that are both company-owned and franchise-operated.
- Sales of Gold, Diamonds, Platinum and Gemstone Jewellery make up roughly 68% of the revenue. The company has a strong focus on high-margin products, through the use of data-driven product design as well as inventory decisions, BlueStone optimizes sales.
- Repeat Customer Revenue contributes approximately 44.61% in FY25, which reflects strong customer loyalty and helps steadily maintain its revenue streams.
Management & Shareholding
Promoters and Shareholders
The promoter of BlueStone Jewellery & Lifestyle Limited IPO is Gaurav Singh Kushwaha, who has a 77% stake in the company, which is going to be reduced after its public listing on 11th August, 2025.
Board Members
The board group of the company consists of various members like Gaurav Singh Kushwaha (Chairman, Managing Director & CEO), Neha (Independent Director), Prashanth Prakash & Sameer Nath (Non-Executive Directors) and Rajesh Kumar Dahiya & Rohit Bhasin (Independent Directors).
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
BlueStone Jewellery & Lifestyle Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
BlueStone Jewellery & Lifestyle Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 11, 2025 to August 13, 2025 |
| Listing Date | - |
| Face Value | ₹1 per share |
| Issue Price Band | ₹492 to ₹517 per share |
| Lot Size | 29 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,97,99,798 shares (aggregating up to ₹1,540.65 Cr) |
| Fresh Issue | 1,58,60,735 shares (aggregating up to ₹820.00 Cr) |
| Offer for Sale | 1,39,39,063 shares of ₹1 (aggregating up to ₹720.65 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 13,54,59,637 shares |
| Share Holding Post Issue | 15,13,20,372 shares |
BlueStone Jewellery & Lifestyle Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Aug 11, 2025 |
| IPO Close Date | Wed, Aug 13, 2025 |
| Tentative Allotment | Thu, Aug 14, 2025 |
| Initiation of Refunds | Mon, Aug 18, 2025 |
| Credit of Shares to Demat | Mon, Aug 18, 2025 |
| Tentative Listing Date | Tue, Aug 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 13, 2025 |
BlueStone Jewellery & Lifestyle Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| 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 & Lifestyle Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 18.28% |
| Share Holding Post Issue | 16.07% |
Competitive Strength:
- 1. BlueStone is India's second-largest omni-channel retail brand.
- 2. The company’s manufacturing units are equipped with advanced manufacturing capabilities that comprise vertically integrated operations.
- 3. BlueStone has a pan-India brand presence, especially in Tier-1, Tier-2 and Tier-3 Cities.
- 4. The jewellery provider company is supported by an expert managerial team and it is backed by investors like Accel India.
BlueStone Jewellery & Lifestyle Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 3,532.28 | 1,830.04 | -221.84 | 73.16 | 728.62 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 2,453 | 1,303 | -142 | 53 | 430.43 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,255.49 | 787.89 | -167.24 | -56.03 | 228.42 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
Objectives of BlueStone Jewellery & Lifestyle Limited IPO
The IPO proceeds will be used to -
- Provide funding support for fulfilling the working capital requirements of the company.
- Provide capital for smooth general corporate functions.
Conclusion
BlueStone Jewellery & Lifestyle Limited IPO is an opportunity for investors looking to step into the jewellery market of India. The company’s D2C business model and strategic plans to move forward sustainably provide credibility to the brand in the rising competition from various established jewellery brands. The upcoming BlueStone Jewellery & Lifestyle Limited will provide help in setting the tone for the future expansion plan of the company.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
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1. What is the issue size of the BlueStone Jewellery & Lifestyle Limited IPO?
BlueStone Jewellery & Lifestyle Limited IPO is of ₹1,540.65 crores.
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2. What is the IPO shareholding pattern post-IPO?
The promoter of BlueStone Jewellery & Lifestyle Limited IPO is Gaurav Singh Kushwaha, who has a 77% stake in the company and dilution is expected after IPO listing.
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3. When will the allotment and listing happen?
Allotment will be completed on 14th August 2025 with the shares likely to be listed on the NSE and BSE platforms on 19th August, 2025.
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4. Who are the lead managers and registrars of the issue?
The lead manager and registrar for the issue are Axis Capital Limited and Kfin Technologies Limited, respectively.
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