BlueStone Jewellery and Lifestyle Limited is redefining how India shops for jewellery. As a premium homegrown brand, BlueStone designs, manufactures, and retails exquisite diamond, gold, platinum, and studded jewellery under its flagship label – BlueStone.
With a stunning pan-India footprint of 275 stores across 117 cities in 26 States and Union Territories (as of March 31, 2025), the brand brings luxury closer to every corner of the country, serving customers across 12,600+ PIN codes.
BlueStone operates 275 stores, including over 200 company-owned and 75 franchisee outlets, covering more than 6 lakh sq. ft., offering a seamless blend of offline experiences and digital innovation.
The brand offers a vast and evolving catalogue that caters to all occasions, age groups, and budgets:
- 💍 Rings
- 👂 Earrings
- 📿 Necklaces & Pendants
- 🪙 Solitaires
- 🧿 Bangles & Bracelets
- ⛓️ Chains
Its portfolio is further enriched by 91 unique thematic collections – each designed with a creative narrative to resonate with modern aesthetics and cultural inspiration.
BlueStone aims to expand to over 500 stores by FY27, with a focus on Tier 1 and emerging Tier 2 and Tier 3 cities.
BlueStone Jewellery IPO – Details
| IPO Opening Date | 11 August 2025 |
| IPO Closing Date | 13 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,97,99,798 Shares Worth ₹1,540.65 Crore Fresh Issue: 1,58,60,735 Shares Worth ₹820.00 Crore Offer For Sale: 1,39,39,063 Shares Worth ₹720.65 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹492 – ₹517 per share |
| Market Lot | 29 Shares |
| Min Order | 29 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
BlueStone Jewellery IPO – Date Schedule
| IPO Open Date | 11 August 2025 |
| IPO Close Date | 13 August 2025 |
| Basis of Allotment | 14 August 2025 |
| Initiation of Refund | 18 August 2025 |
| Credit of Shares to Demat Account | 18 August 2025 |
| IPO Listing Date | 19 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 13, 2025 |
BlueStone Jewellery IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,993 |
| Retail (Max) | 13 | 377 | ₹1,94,909 |
| S-HNI (Min) | 14 | 406 | ₹2,09,902 |
| S-HNI (Max) | 66 | 1,914 | ₹9,89,538 |
| B-HNI (Min) | 67 | 1,943 | ₹10,04,531 |
Competitive Strength
- Leading digital-first jewellery brand in India offering an omni-channel 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 Promoters
- Gaurav Singh Kushwaha
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹787.89 Cr | ₹955.14 Cr | – ₹167.24 Cr | ₹228.42 |
| 31 March 2024 | ₹1,303.49 Cr | ₹1,445.73 Cr | – ₹142.24 Cr | ₹430.43 |
| 31 March 2025 | ₹1,830.04 Cr | ₹2,049.93 Cr | – ₹221.84 Cr | ₹728.62 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -34.53% |
| ROCE | -3.67% |
| Debt/Equity | 0.80 |
| RoNW | -24.45% |
| PAT Margin | -12.53% |
| EBITDA Margin | 4.13% |
| Price to Book Value | 2.01 |
| Pre IPO | Post IPO | |
| EPS (₹) | -79.74 | |
| P/E (x) |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding for its working capital requirements. | ₹750.00 |
| General corporate purposes. |
BlueStone Jewellery IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Titan Company Limited | 88.14 |
| 2 | 10 | Thangamayil Jewellery Limited | 45.47 |
| 3 | 10 | Kalyan Jewellers India Limited | 84.10 |
| 4 | 1 | PC Jeweller Limited | 22.76 |
| 5 | 5 | Senco Gold Limited | 31.17 |
✅Strengths
- Strong omnichannel presence across 275 stores and online.
- 91+ jewellery collections with trend-driven design.
- Rapid store expansion plan targeting 500 stores by FY27.
- In-house manufacturing ensures quality and faster launches.
- Tech-driven shopping experience (AI, virtual try-ons).
- Backed by experienced management and top investors.
⚠️Risks
- Consistent losses over past 3 years.
- Intense competition from established brands like Titan, Kalyan.
- Gold price volatility affects margins and demand.
- High working capital needs due to inventory-heavy model.
- Franchisee dependency for store growth.
- Exposure to regulatory and compliance changes.
BlueStone Jewellery IPO Promoter Holding
| Pre Issue Share Holding | 18.28% |
| Post Issue Share Holding | 16.36% |
BlueStone Jewellery IPO Prospectus
Company Contact Information
| BlueStone Jewellery & Lifestyle Ltd. Site No. 89/2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore Urban, Karnataka, 560037 Phone: +91 22 4515 2729 Email: investor.relations@bluestone.com Website: https://www.bluestone.com/ |
BlueStone Jewellery IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: bluestone.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
BlueStone Jewellery IPO Lead Manager(s)
| 1. Axis Capital Limited 2. IIFL Capital Services Limited 3. Kotak Mahindra Capital Company Limited |
BlueStone Jewellery IPO FAQs
| What is BlueStone Jewellery IPO? BlueStone Jewellery IPO is a main-board IPO. The issue is priced at ₹492 to ₹517 per equity share. The IPO is to be listed on BSE & NSE. |
| When will BlueStone Jewellery IPO open? The IPO is to open on 11 August 2025 for QIB, NII, and Retail Investors. |
| What is BlueStone Jewellery IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the BlueStone Jewellery IPO? You can apply BlueStone Jewellery IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the BlueStone Jewellery IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “BlueStone Jewellery IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the BlueStone Jewellery IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “BlueStone Jewellery IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the BlueStone Jewellery IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “BlueStone Jewellery IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the BlueStone Jewellery IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “BlueStone Jewellery IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is BlueStone Jewellery IPO Size? BlueStone Jewellery IPO size is ₹1,540.65 Crore. |
| What is the BlueStone Jewellery IPO Price Band? BlueStone Jewellery IPO Price Band is ₹492 to ₹517. |
| What is BlueStone Jewellery IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 29 Shares with ₹14,993 while the maximum bid is 377 Shares with ₹1,94,909. |
| What is the BlueStone Jewellery IPO Allotment Date? BlueStone Jewellery IPO allotment date is 14 August 2025. |
| What is the BlueStone Jewellery IPO Listing Date? BlueStone Jewellery IPO listing date is 19 August 2025. The IPO is to be listed on BSE and NSE. |
