- Issue price
- ₹517per share
- Issue size
- ₹1,540.65 Cr2,97,99,798 shares
- Face value
- ₹1per equity share
- Lot size
- 29 sharesMin. ₹14,993 at the upper price
- OpensMon, 2025
- ClosesWed, 2025
- AllotmentThu, 2025
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 1,58,60,735 shares (₹820 Cr)
- Offer for sale
- 1,39,39,063 shares (₹720.65 Cr)
- Total issue
- 2,97,99,798 shares (₹1,540.65 Cr)
- Face value
- ₹1
- Listing at
- NSE, BSE
- Promoter holding
- 18.06% → 15.88%
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor64.3%
- NII21.4%
- Retail14.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 29,79,979 | 14.29% | — |
| Non-institutional investors (NII) | 44,69,969 | 21.43% | — |
| Qualified institutional buyers (QIB) | 2,23,49,850 | 107.14% | — |
| Anchor investors | 1,34,09,910 | 64.29% | 60% |
Source: ProspectusUpdated
Lot size
Amounts at ₹517 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 29 | ₹14,993 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- -₹79.74
- EPS (diluted)
- -₹79.74
- RoNW
- -24.45%
- NAV per share
- ₹257.35
- Debt to equity
- 0.80
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 1,770.00 | 1,265.84 | 770.73 |
| Total income | 1,830.04 | 1,303.49 | 787.89 |
| EBITDA | 73.16 | 53.05 | -56.03 |
| Profit after tax | -221.84 | -142.24 | -167.24 |
| Net worth | 906.77 | 374.17 | -71.83 |
| Reserves and surplus | 877.12 | 346.28 | -81.06 |
| Total assets | 3,532.28 | 2,453.49 | 1,255.49 |
| Total borrowing | 728.62 | 430.43 | 228.42 |
FY 2024-25 vs FY 2023-24: revenue +39.8%, profit after tax −56.0%.
Source: ProspectusUpdated
About the company
The company runs BlueStone, a digital-first omni-channel jewellery brand selling diamond, gold, platinum and studded jewellery online and through company-owned and franchisee stores. As of March 31, 2025 it operated 275 stores across 117 cities. It manufactures through facilities in Mumbai, Jaipur and Surat.
- Incorporated
- 2011
- Industry
- Jewellery Retail
- Sector
- Consumer Goods
- CIN
- U72900KA2011PLC059678
- Website
- bluestone.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Gaurav Singh Kushwaha | Promoter | 18.06% | 15.88% | — |
| Accel India III (Mauritius) Ltd | Selling shareholder | 11.92% | 8.79% | 26,03,915 |
| Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) | Selling shareholder | 5.73% | 3.78% | 19,30,000 |
| Kalaari Capital Partners II, LLC | Selling shareholder | 5.22% | 2.30% | 35,36,990 |
| Saama Capital II, Ltd. | Selling shareholder | 3.03% | 0.00% | 41,00,970 |
| Iron Pillar Fund I Ltd | Selling shareholder | 2.53% | 1.69% | 8,21,085 |
| Iron Pillar India Fund I | Selling shareholder | 1.52% | 1.02% | 4,93,958 |
| Kalaari Capital Partners Opportunity Fund, LLC | Selling shareholder | 0.67% | 0.29% | 4,52,145 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding working capital requirements | 750.00 |
| General corporate purposes | 20.75 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Titan Company Limited | ₹37.62 | 88.14× | 28.71% | ₹130.93 |
| Kalyan Jewellers India Limited | ₹6.93 | 84.10× | 14.87% | ₹46.57 |
| Senco Gold Limited | ₹10.09 | 31.17× | 8.09% | ₹120.37 |
| Thangamayil Jewellery Ltd | ₹42 | 45.47× | 10.77% | ₹354.66 |
| PC Jeweller Limited | ₹1.13 | 22.76× | 9.33% | ₹9.46 |
| BlueStone Jewellery and Lifestyle LimitedIssuer | -₹79.74 | — | -24.45% | ₹257.35 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Second-largest digital-first omni-channel jewellery brand in India by FY2024 revenue, per the prospectus.
- Operates both online and a network of 275 stores across 117 cities as of March 31, 2025.
- In-house technology and vertically integrated manufacturing across three facilities.
- Founder-led management backed by institutional investors.
Risks
- The company has made losses in FY2023, FY2024 and FY2025 and had negative total equity in FY2023.
- Past regulatory filing delays and untraceable corporate records may lead to penalties.
- An RBI show cause notice and an ED investigation relate to foreign exchange matters.
- Heavy reliance on inventory and borrowings, including gold metal loans, with total borrowings of ₹ 7,286.18 million at FY2025 end.
- Repeat customer revenue share and average order value are key performance dependencies.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹517) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the BlueStone Jewellery and Lifestyle IPO open and close?
According to the Prospectus, the issue opens on Monday, 11 August 2025 and closes on Wednesday, 13 August 2025.
What is the BlueStone Jewellery and Lifestyle IPO price band?
The final issue price is ₹517 per share.
What is the lot size of the BlueStone Jewellery and Lifestyle IPO?
One lot is 29 shares, which is ₹14,993 at ₹517 per share.
Where will BlueStone Jewellery and Lifestyle shares list?
On NSE and BSE. The tentative listing date is Tuesday, 19 August 2025.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the BlueStone Jewellery and Lifestyle IPO allotment status?
The basis of allotment is expected to be finalised on Thursday, 14 August 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹750 Cr for funding working capital requirements, ₹20.75 Cr for general corporate purposes.
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