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BlueStone Jewellery to Initiate Public Offering on August 11, Announces Share Price Range Between Rs 492 and Rs 517

Omnichannel jewelry retailer BlueStone Jewellery & Lifestyle Limited, operating under the BlueStone brand, is preparing to debut its initial public offering (IPO) within the week, aiming for a market valuation of around Rs 7,800 crore or approximately $888 million.

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BlueStone Jewellery to initiate Initial Public Offering on August 11, with share prices estimated...
BlueStone Jewellery to initiate Initial Public Offering on August 11, with share prices estimated between Rs 492 and Rs 517 each

BlueStone Jewellery to Initiate Public Offering on August 11, Announces Share Price Range Between Rs 492 and Rs 517

BlueStone Jewellery & Lifestyle Limited to Launch IPO Next Week

BlueStone Jewellery & Lifestyle Limited, a leading online and offline jewellery retailer, has announced plans for an initial public offering (IPO) next week. The IPO is scheduled to open for public subscription on August 11 and close on August 13.

Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the IPO for BlueStone. The anchor book for the IPO is slated for August 8.

The IPO comprises a fresh issue of shares worth Rs 820 crore and an offer for sale (OFS) of up to 13,939,063 equity shares. Several early-stage investors including Accel Partners, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal-led Hero Enterprise Partner Ventures will participate in the OFS. However, IvyCap Ventures, which was earlier slated to sell 3.1 million shares, is no longer part of the OFS.

Founded by IIT Delhi alumnus and former Amazon executive Gaurav Singh Kushwaha, BlueStone has expanded its retail footprint significantly. As of March 2025, the Bengaluru-based company operates 225 stores across 117 cities. In addition to physical stores, BlueStone operates online channels, including its website and mobile applications.

Despite strong revenue growth, BlueStone remains loss-making. In FY25, the company reported a 40% year-on-year increase in operating revenue, amounting to Rs 1,770 crore. However, net losses widened to Rs 222 crore in FY25 from Rs 142 crore the previous year.

The company had initially aimed to raise Rs 1,000 crore in primary capital, but this has been revised. The total number of shares offered for sale is not specified in the search results provided.

Trilegal is acting as legal counsel for BlueStone's IPO. The promoter, Gaurav Singh Kushwaha, holds a 17.7% stake in the company.

BlueStone's IPO is occurring amid increased investor interest in the jewellery sector, spurred by Tata Group's full acquisition of CaratLane at a Rs 17,000 crore valuation. This could potentially bode well for BlueStone's IPO, as investors may be more willing to invest in the jewellery sector given the positive market trends.

Interested investors are advised to carefully review the IPO documents before making investment decisions. Further details about the IPO, including the price band and other terms, will be announced in due course.

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