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 -

1. 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.
2. 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.
3. 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).