BlueStone Jewellery & Lifestyle Limited will open its IPO (Initial Public Offering) for public subscription on August 11 and close on August 13. The company has fixed the price band between Rs 492 and Rs 517 per share.
The anchor book will open on August 8, just ahead of the main subscription. BlueStone is targeting a market valuation of around Rs 7,800 crore (approx. $888 million), according to its official filing.
BlueStone Jewellery IPO
The IPO includes a fresh issue of Rs 820 crore and an offer for sale (OFS) of up to 13,939,063 equity shares. This is a reduced figure from the 24 million shares originally planned.
Earlier investors like Accel Partners, Saama Capital, Kalaari Capital, Iron Pillar, and Hero Enterprise will participate in the OFS. Meanwhile, IvyCap Ventures has exited the sale portion.
Use of Funds
Proceeds from the IPO will be used mainly for working capital and other general corporate needs. The company wants to strengthen its operations and expand further.
Gaurav Singh Kushwaha, the founder and promoter, holds a 17.7% stake in the company. He is an IIT Delhi graduate and former Amazon executive.
Company Growth
BlueStone operates both offline and online, with 225 stores across 117 cities as of March 2025. It also sells jewellery through its website and mobile app.
Although its revenue rose 40% year-on-year to Rs 1,770 crore in FY25, the company reported a net loss of Rs 222 crore, up from Rs 142 crore in FY24.
Market and Advisors
This IPO follows rising interest in jewellery startups, especially after the Tata Group’s acquisition of CaratLane for Rs 17,000 crore.
The IPO is managed by Axis Capital, Kotak Mahindra Capital, and IIFL Capital, with Trilegal as the legal advisor.
What is BlueStone Jewellery?
BlueStone Jewellery & Lifestyle Ltd is an omnichannel jewellery brand that sells diamond, gold, platinum, and studded jewellery. Launched in 2011, it aims to bring fine jewellery shopping to both physical stores and digital platforms.
The brand is known for its modern designs, fast delivery, and easy returns, offering a mix of traditional and contemporary jewellery for Indian buyers.
