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BlueStone Jewellery IPO is a bookbuilt issue of ₹1,540.65 crore. It combines a fresh issue of 1.59 crore shares aggregating to ₹820.00 crore and an offer for sale of 1.39 crore shares aggregating to ₹720.65 crore.
The IPO opens for subscription on August 11, 2025, and closes on August 13, 2025. The allotment is expected to be finalized on Thursday, August 14, 2025. The price band for the IPO is set at ₹492 to ₹517 per share, and the minimum lot size for an application is 29 shares.
Company Summary
BlueStone Jewellery and Lifestyle Limited manufactures and provides diamond, gold, platinum and studded jewellery under our flagship brand, BlueStone. The company has a pan-India presence with 275 stores across 117 cities in 26 States and Union Territories in India, as of March 31, 2025, servicing over 12,600 PIN codes across India.
As of March 31, 2025, the company’s network of stores comprised 200 company-owned stores (“Company Stores”) and 75 franchisee stores (“Franchisee Stores”) with an aggregate area of over 605,000 square feet.
The company offers a wide range of product offerings, including rings, earrings, necklaces, pendants, solitaires, bangles, bracelets and chains that cater to diverse customer segments and are retailed at varied price points. As of March 31, 2025, BlueStone had 91 collections (defined as a set of jewellery designs created with a specific theme) of jewellery products.
Company Strengths
- Leading digital-first jewellery brand in India offering an omnichannel retail experience.
- In-house Technology Architecture Driving End-to-End Business Operations.
- Differentiated Approach to Product and Design.
- Advanced Manufacturing Capabilities with Vertically Integrated Operations.
- Pan-India Presence Across Tier-I, Tier-II, and Tier-III Cities with Healthy Unit Economics.
- Founder-led Company Supported by an Experienced and Professional Management Team and backed by Marquee Investors.
Company Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 3,532.28 | 2,453.49 | 1,255.49 |
| Revenue | 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 ₹ Crore | |||
Objectives of IPO
- Funding our working capital requirements
- General Corporate Purposes
Promoters of the Company
Gaurav Singh Kushwaha is the promoter of the company.
IPO Details
| IPO Date | August 11, 2025 to August 13, 2025 |
| Listing Date | August 19, 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹492 to ₹517 per share |
| Lot size | 29 shares |
| Total Issue Size | 2,97,99,798 shares (aggregating up to ₹1540.65 Cr) |
| Fresh Issue | 1,58,60,735 shares (aggregating up to ₹820.00 Cr) |
| Offer for sale | 1,39,39,063 shares of ₹2 (aggregating up to ₹720.65 Cr) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 13,54,59,637 shares |
| Share Holding Post Issue | 15,13,20,372 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 29 | ₹14,993.00 |
| Retail (Max) | 13 | 377 | ₹1,94,909.00 |
| S-HNI (Min) | 14 | 406 | ₹2,09,902.00 |
| S-HNI (Max) | 66 | 1,914 | ₹9,89,538.00 |
| B-HNI (Min) | 67 | 1,943 | ₹10,04,531.00 |
Allotment Schedule
| Basis of Allotment | Thu, 14 Aug, 2025 |
| Initiation of Refunds | Mon, 18 Aug, 2025 |
| Credit of Shares to Demat | Mon, 18 Aug, 2025 |
| Tentative Listing Date | Tue, 19 Aug, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 13, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII Shares Offered | Not more than 15% of the Offer |
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