- IPO Dates: August 11–13, 2025
- Total Issue Size: ₹1,540.65 Cr
- Fresh Issue: ₹820 Cr | OFS: ₹720.65 Cr
- Price Band: ₹492 to ₹517 per share
- Listing on: BSE and NSE
- Retail Quota: 10%
- Backed by strong management, tech stack, and digital-first strategy
- Revenue up 40% YoY, but company still in losses
Source: SEBI
BlueStone Jewellery & Lifestyle Ltd. will open its ₹820 crore Initial Public Offering (IPO) for subscription on August 11, 2025, and close on August 13, 2025. The issue includes a fresh equity issue worth ₹820 crore and an Offer for Sale (OFS) of 1,39,39,063 shares, with the total size likely aggregating to approximately ₹1,540.65 crore, based on the upper end of the price band.
The IPO proceeds will be used to fund the company’s working capital requirements and for general corporate purposes. BlueStone shares are expected to be listed on BSE and NSE on August 19, 2025.
BlueStone Jewellery IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | Monday, August 11, 2025 |
| IPO Close Date | Wednesday, August 13, 2025 |
| Face Value | ₹1 per share |
| Fresh Issue Size | 1,58,60,735 shares (₹820 Cr) |
| Offer for Sale (OFS) | 1,39,39,063 shares (₹720.65 Cr approx.) |
| Total Issue Size | Estimated ₹1,540.65 Cr (approximate) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Cut-off Time (UPI) | 5 PM on August 13, 2025 |
| Pre-Issue Shares | 13,54,59,637 shares |
Book Running Lead Managers (BRLMs)
- Axis Capital Limited
- IIFL Capital Services Limited (formerly IIFL Securities Ltd.)
- Kotak Mahindra Capital Company Limited
Registrar to the Issue
- KFin Technologies Limited
Reservation by Investor Category
| Category | Percentage of Offer |
|---|---|
| Qualified Institutions (QIBs) | Not less than 75% |
| Non-Institutional Investors (NIIs) | Not more than 15% |
| Retail Investors | Not more than 10% |
About BlueStone Jewellery & Lifestyle Ltd.
Founded in 2011, BlueStone is a digitally native jewellery brand offering a wide range of diamond, gold, platinum, and studded jewellery. The company operates via an omnichannel model including:
- Its official website www.bluestone.com
- Mobile apps on iOS and Android
- 275 physical stores (including franchisees) across 117 cities in 26 States/UTs (as of March 31, 2025)
As of March 31, 2025, the company operated 275 stores in 117 cities across 26 states and union territories, including company-owned and franchise stores. It targets modern buyers aged 25–45 years, who are tech-savvy and discover brands through social and digital channels.
BlueStone Jewellery & Lifestyle Ltd Qualitative Strengths
- Top Digital-First Brand: BlueStone is India’s second-largest digital-first jewellery brand by revenue in FY24, offering a strong omnichannel experience.
- Omnichannel Retail Network:
Products are sold via website, mobile app, and 275 stores across 117 cities (as of March 2025), including franchise outlets. - End-to-End Tech Integration: The company runs on a robust in-house tech platform, covering everything from design and merchandising to manufacturing and retail.
- Targeted Product Design: Focuses on jewellery for women, men, and couples aged 25–45, catering to digital-first, style-conscious consumers.
- Vertically Integrated Manufacturing: Operates three facilities with full control over raw material sourcing, production, and sales, ensuring quality and efficiency.
- Pan-India Presence with Scalable Model: Retail footprint spans Tier I–III cities, using a mix of company-owned and franchise stores with strong unit economics.
- Experienced Leadership & Investor Backing: A founder-led company supported by a seasoned management team and reputed institutional investors.
Company Financials (₹ in Crore)
| Particulars | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 1,255.49 | 2,453.49 | 3,532.28 |
| Total Income | 787.89 | 1,303.49 | 1,830.04 |
| EBITDA | -56.03 | 53.05 | 73.16 |
| Profit After Tax (PAT) | -167.24 | -142.24 | -221.84 |
| Reserves & Surplus | -81.06 | 346.28 | 877.12 |
| Total Borrowing | 228.42 | 430.43 | 728.62 |
While revenue has grown significantly (40% YoY in FY25), the company reported a widening net loss of ₹221.84 Cr in FY25, up from ₹142.24 Cr in FY24.
Use of IPO Proceeds
The net proceeds from the fresh issue will be used for:
| Purpose | Amount (₹ in million) |
|---|---|
| Working Capital Requirements | 7,500.00 |
| General Corporate Purposes | / |
Note: Final amounts for general corporate purposes and net proceeds will be updated in the prospectus post price determination. General corporate purpose usage will not exceed 25% of gross proceeds.
