BlueStone Jewellery and Lifestyle IPO

BlueStone Jewellery and Lifestyle Limited is engaged in the manufacturing and retailing of diamond, gold, platinum, and studded jewellery under its flagship brand, BlueStone. As of March 31, 2025, the company operates a widespread retail network across India, with 275 stores located in 117 cities across 26 states and union territories, serving over 12,600 PIN codes nationwide. This network includes 200 company-owned outlets and 75 franchisee stores, covering a total retail space of more than 605,000 square feet. BlueStone offers a diverse jewellery portfolio that includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains—designed to cater to a broad range of customer preferences and price points. By the same date, the brand had launched 91 themed collections, each comprising jewellery designs crafted around a specific concept or style.

BlueStone Jewellery IPO Overview

The BlueStone Jewellery IPO is a book-built issue amounting to ₹1,540.65 crores, comprising a fresh issue of approximately 1.59 crore equity shares worth ₹820.00 crores and an offer for sale (OFS) of around 1.39 crore shares aggregating to ₹720.65 crores. The IPO will open for subscription on August 11, 2025, and close on August 13, 2025. Allotment of shares is expected to be finalised on August 14, 2025, and the shares are proposed to be listed on both BSE and NSE, with a tentative listing date of August 19, 2025.

The price band for the IPO is fixed between ₹492 and ₹517 per share, with a lot size of 29 shares. For retail investors, the minimum investment required is ₹14,268 for one lot. For small non-institutional investors (sNII), the minimum application is 14 lots (406 shares) amounting to ₹2,09,902, while for big non-institutional investors (bNII), it is 67 lots (1,943 shares) totalling ₹10,04,531.

Axis Capital Limited is acting as the book-running lead manager for the issue, and Kfin Technologies Limited is the appointed registrar.

BlueStone Jewellery IPO Details

Particulars	Details
IPO Date	11 August 2025 to 13 August 2025
Listing Date	19 August 2025
Face Value	₹1 per share
Issue Price Band	₹492 to ₹517 per share
Lot Size	29 Shares
Total Issue Size	2,97,99,798 shares (aggregating to ₹1,540.65 Cr)
Fresh Issue	1,58,60,735 shares (aggregating to ₹820.00 Cr)
Offer for Sale	1,39,39,063 shares (aggregating to ₹720.65 Cr)
Issue Type	Bookbuilding IPO
Listing At	BSE, NSE
Share Holding Pre Issue	13,54,59,637 shares
Share Holding Post Issue	15,13,20,372 shares

BlueStone Jewellery IPO Reservation

Investor Category	Shares Offered
QIB	Not less than 75% of the Offer
Retail	Not more than 10% of the Offer
NII (HNI)	Not more than 15% of the Offer

BlueStone Jewellery IPO Lot Size

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

BlueStone Jewellery IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	18.28%
Post-Issue	16.07%

BlueStone Jewellery IPO Valuation Overview

KPI	Value
EPS (Basic)	-79.74
EPS (Diluted)	-79.74
Price/Earnings (P/E) Ratio	—
Return on Net Worth (RoNW)	-24.45%
Net Asset Value (NAV)	₹66.94
Return on Equity (ROE)	-34.53%
Return on Capital Employed	-3.67%
EBITDA Margin	4.13%
PAT Margin	-12.53%
Debt to Equity Ratio	0.80

Objectives of the Proceeds

• Funding working capital requirements – ₹750.00 crore

• General corporate purposes

Key Financials (in ₹ crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	3,532.28	2,453.49	1,255.49
Revenue	1,830.04	1,303.49	787.89
Profit After Tax	-221.84	-142.24	-167.24
Reserves & Surplus	877.12	346.28	-81.06
Total Borrowings	728.62	430.43	228.42