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Bluestone Jewellery & Lifestyle Ltd

Diamond, Gems and Jewellery

Offer Period :

11th to 13th Aug 2025

Bluestone Jewellery & Lifestyle Ltd IPO Details

IPO Date 11th to 13th Aug 2025 Minimum Investment ₹14993 / 1 Lots
Listing Date 2025-08-19 Maximum Investment ₹194909 / 13 Lots
Face Value ₹1 per share Total Issue Size ₹1540.65 Crores
Price ₹517 to ₹517 per share Fresh Issue ₹820 Crores
Lot Size 1 Lots (29 Shares) Offer For Sale ₹ [-]
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per Share Shareholding Pre Issue 135459637 Shares
Issue Type Book Building Shareholding Post Issue 151320372 Shares
IPO Date 11th to 13th Aug 2025
Listing Date 2025-08-19
Face Value ₹1 per share
Price ₹517 to ₹517 per share
Lot Size 1 Lots (29 Shares)
Listing At BSE, NSE
Total Issue Size ₹1540.65 Crores
Employee Discount ₹0 per share
Issue Type Book Building
Minimum Investment ₹14993 / 1 Lots
Maximum Investment ₹194909 / 13 Lots
Fresh Issue ₹820 Crores
Offer For Sale ₹[-] Crores
Retail Discount ₹0 Crores
Shareholding Pre Issue 135459637 Shares
Shareholding Post Issue 151320372 Shares

About Bluestone Jewellery & Lifestyle Ltd IPO

BlueStone Jewellery and Lifestyle Limited is engaged in the manufacturing and retailing of a variety of jewellery, including diamond, gold, platinum, and studded items, under the brand name BlueStone. With a presence in 117 cities across 26 States and Union Territories in India, the company operated 275 stores as of March 31, 2025. These stores collectively served over 12,600 PIN codes, reflecting the brand's geographical reach. BlueStone’s model includes both company-owned outlets and franchise partnerships to support its retail footprint.
 

Out of the 275 stores, 200 are company-owned while 75 operate under a franchise model. These stores span more than 605,000 square feet in retail space. The company offers a diverse range of products such as rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains, appealing to various customer segments and price points. As of March 2025, BlueStone featured 91 distinct jewellery collections, each based on a specific design theme.

Founding Year: 2011

Managing Director: [-]

Bluestone Jewellery And Lifestyle Limited Timeline

Important dates for allocation and IPO listing.

11th Aug

IPO Opens

13th Aug

IPO Close

14th Aug

Allotment Date

18th Aug

Initiation of Refund

18th Aug

Credit of Shares to Demat Account

19th Aug

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 17.91 16.36
Public Group 82.09 83.64

Bluestone Jewellery & Lifestyle Ltd IPO Reservation

QIB Shares Offered 8939939(30%)
NII (HNI) Shares Offered 4469970(15%)
Retail Shares Offered 2979980(10%)
Anchor Investor Shares Offered 13409909(45%)
Total Shares Offered 29799798
Total Shares With Anchor Investor 29799798

Bluestone Jewellery & Lifestyle Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 29 ₹14993
Retail (Max) 13 377 ₹194909
S HNI (Min) 14 406 ₹209902
S HNI (Max) 66 1914 ₹989538
B HNI (MIN) 67 1943 ₹1004531

Bluestone Jewellery & Lifestyle Ltd IPO Anchor Investor Details

Bid Date 08 August 2025
Shares Offered 0
Anchor Portion Size 0

Bluestone Jewellery & Lifestyle Ltd IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id bluestone.ipo@kfintech.com
Our Website www.kfintech.com

Bluestone Jewellery & Lifestyle Ltd IPO Lead Manager

1. Axis Capital Ltd

2. IIFL Capital Services Ltd

3. Kotak Mahindra Capital Company Ltd

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Bluestone Jewellery & Lifestyle Ltd Financial Information

Period Ended March 31, 2024 March 31, 2023 March 31, 2022
Net Worth ₹374.17 ₹-71.83 ₹-1836.23
Reserves and Surplus ₹346.28 ₹-81.06 ₹-1837.23
Total Borrowing ₹872.89 ₹449.66 ₹1932.54

Bluestone Jewellery & Lifestyle Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 8862990 37961783 4.2832
Non Institutional Investors (NIIs) 4590859 2533353 0.5518
NII(Bid amount of more than Ten Lakh Rupees) 3060573 2032813 0.6642
NII(Bid amount of more than 2 Lakh < 10 Rupees) 1530286 500540 0.3271
Retail Individual Investors (RIIs) 3060572 4127164 1.3485
Total 16514421 44622300 2.702

Strength of Bluestone Jewellery & Lifestyle Ltd

1. Second largest digital-first jewellery brands in India in terms of revenues in Fiscal 2024 offering an omnichannel retail experience across website, mobile application and stores;

2. In-house technology architecture driving end-to-end business operations from design, online rendering, merchandizing, manufacturing and retail.

3. Differentiated approach to product and design catering to women, men and couples between the ages of 25 to 45 with an extensive range and variety of products.

4. Advanced manufacturing capabilities across three facilities with vertically integrated operations covering raw material procurement, design, production and marketing and sales.

5. Pan-India presence across tier-I, tier-II and tier-III cities operating through a combination of Company Stores and Franchisee stores with healthy unit economics.

6. Founder-led company supported by an experienced and professional management team and backed by renowned investors.

Risks Involved

1. The company has not generated any profits since inception. The company has experienced loss of Rs. 2,218.37 million, Rs. 1,422.36 million and Rs. 1,672.44 million in Fiscal 2025, 2024 and 2023, respectively and had negative total equity of Rs. 718.26 million in Fiscal 2023. Any loss or negative total equity in future periods could adversely affect its operations, financial conditions, and the trading price of the company Equity Shares.

2. There have been certain instances of non-compliances, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties for any such non-compliance and the company business, financial condition and reputation may be adversely affected.

3. Its Repeat Revenue Ratio (defined as revenue generated by sales to repeat customers, i.e., customers who place an order more than once at any time previously) was 44.61%, 39.83% and 34.67% in Fiscal 2025, 2024 and 2023, respectively. If the company fails to convert existing customers into repeat customers or acquire new customers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability. Further, if the company fails maintain Average Order Value levels, which was Rs. 47,671.26, Rs. 41,204.71 and Rs. 32,038.38 in Fiscal 2025, 2024 and 2023, respectively, its may not be able to sustain the company revenue base and margins, which would have a material adverse effect on its business and results of operations.

4. The company purchase and manufacture inventory in anticipation of sales. Its inventory was Rs. 16,525.47 million, Rs. 9,912.21 million and Rs. 3,953.17 million as of March 31, 2025, 2024 and 2023, respectively. If the company fails to manage its inventory effectively, the company business and results of operations could be adversely affected.

5. Its Promoter, Gaurav Singh Kushwaha, has pledged certain of his Equity Shares with certain lenders. Any exercise of such pledge by the lender could dilute his shareholding, which may adversely affect its business and future prospectus.

6. The company has witnessed negative cash flows used in operating activities in Fiscal 2025 and 2024 amounting to Rs. 6,658.28 million and Rs. 1,811.64 million, respectively. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company ability to operate its business and the company financial condition.

7. The Company will not receive any proceeds from the Offer for Sale.

8. Its Statutory Auditors have included certain emphasis of matters in their examination report.

9. The seasonality of its business affects the company quarterly results and places an increased strain on its operations.

10. Under-utilization of its existing manufacturing facilities and an inability to effectively utilize the company manufacturing capacities could have an adverse effect on its business, future prospects, and future financial performance.

Why should you invest in

-

Bluestone Jewellery & Lifestyle Ltd Financials

Particulars For the financial year ending (in ₹ million)
  2025
Total Assets 3532.28
Total Liabilities 3532.28
Total Expenses 2049.93
Total Revenue 
1830.04
Profit After Tax -221.67
EBITDA 133.2
Adjusted EBITDA 0

Bluestone Jewellery And Lifestyle Limited IPO Contact Details

Bluestone Jewellery & Lifestyle Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2025-08-19 544484 BLUESTONE
INE304W01038
₹517 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹517 ₹517
Open ₹508.8 ₹510
Low ₹508.6 ₹508.1
High ₹564 ₹564
Low ₹508.6 ₹508.1

Industry Outlook of Bluestone Jewellery And Lifestyle IPO

  • Growing industry: the Indian jewellery market was valued around USD 75 billion in 2024 and may expand at about 12 %–14 % CAGR to reach USD 130–140 billion by 2029

  • expanding organised segment: organised retail accounted for roughly 36 %–38 % of market activity in FY 24, with an expected upward trend

  • rising omnichannel adoption: the online‑influenced in‑store purchase trend rose from 39 % in 2018 to 60 % in 2023

  • accelerating online sales: the online‑influenced jewellery segment grew around 80 % between 2021 and 2023, with projected CAGR of 28 %–30 %

  • supportive macro drivers: higher discretionary incomes, expanding financially independent urban consumers, and growing preference for daily‑wear and design‑led products

  • shifting export environment: doubling of U.S. import tariffs to 50 % may pose challenges for exporters, prompting potential relocation of manufacturing to low‑tariff regions

  • opportunities from trade policy: a recent India–UK trade agreement may help expand exports to the UK, supporting export growth and investment in the secto


Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Bluestone Jewellery And Lifestyle IPO.

Frequently Asked Questions

What is Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

Bluestone Jewellery & Lifestyle Ltd IPO is a Mainboard IPO of 2,97,99,798 equity shares of a face value of ₹1 aggregating up to ₹1540.65 Crores. The issue is priced at ₹517 to ₹517 per share. The minimum order quantity is 29 Shares. The IPO opens on August 11, 2025, and closes on August 13, 2025. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Bluestone Jewellery & Lifestyle Ltd IPO will open?

Answer Field

The Bluestone Jewellery & Lifestyle Ltd IPO opens on August 11, 2025 and closes on August 13, 2025.

What is the lot size of Bluestone Jewellery & Lifestyle Ltd?

Answer Field

Bluestone Jewellery & Lifestyle Ltd lot size is 29 shares, and the minimum amount required is ₹14,993.

How to apply for Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

You can apply in Bluestone Jewellery & Lifestyle Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Bluestone Jewellery & Lifestyle Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Bluestone Jewellery & Lifestyle Ltd IPO will be done on August 14, 2025, and the allotted shares will be credited to your demat account by August 18, 2025.

When is Bluestone Jewellery & Lifestyle Ltd IPO listing date?

Answer Field

The Bluestone Jewellery & Lifestyle Ltd listing date is August 19, 2025.

Who is the registrar of Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

The registrar of Bluestone Jewellery & Lifestyle Ltd IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Axis Capital Ltd,IIFL Capital Services Ltd,Kotak Mahindra Capital Company Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

The fresh issue size is ₹820 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Bluestone Jewellery & Lifestyle Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 29 shares and ₹14,993 amount.

How can I approve the UPI mandate request for Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

To apply for Bluestone Jewellery & Lifestyle Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Bluestone Jewellery & Lifestyle Ltd?

Answer Field

The price of each Bluestone Jewellery & Lifestyle Ltd share will be ranging in between ₹517 to ₹517 per share.

What is the cut-off time for the UPI mandate for Bluestone Jewellery & Lifestyle Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, August 13, 2025.

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