BlueStone Jewellery & Lifestyle IPO
Bookbuilding IPO | ₹1,541.00 Cr |
IPO Open
Mon, Aug 11, 2025
IPO Close
Wed, Aug 13, 2025
Price Band
₹492.00 to ₹517.00
Market Cap (Pre-IPO)
₹7,823.26 Cr
IPO Details
| IPO Date | Aug 11, 2025 to Aug 13, 2025 |
| Listing Date | Tentative: Aug 19, 2025 |
| Face Value | ₹1.00 per share |
| Price Band | ₹492.00 to ₹517.00 |
| Lot Size | 29 Shares (Minimum: ₹14,993.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE, BSE |
| Issue Size | ₹1,541.00 Crores |
| Total Shares Offered | 29,799,798 shares |
| Fresh Issue | 15,860,735 shares |
| Offer For Sale | 13,939,063 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 4.25x |
| NII | 0.57x |
| RII | 1.38x |
| Total | 2.72x |
BlueStone Jewellery & Lifestyle IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 2,23,49,850 (75.00%) |
| Retail Shares Offered | 29,79,979 (10.00%) |
| NII Shares Offered | 44,69,969 (15.00%) |
BlueStone Jewellery & Lifestyle IPO Lot Size
Investors can bid for a minimum of 29 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,993 |
| Retail (Max) | 13 | 377 | ₹194,909 |
| S-HNI (Min) | 14 | 406 | ₹209,902 |
| S-HNI (Max) | 66 | 1,914 | ₹989,538 |
| B-HNI (Min) | 67 | 1,943 | ₹1,004,531 |
BlueStone Jewellery & Lifestyle Financial Information (Restated Consolidated)
BlueStone Jewellery & Lifestyle Ltd.'s revenue increased by 40% and profit after tax (PAT) dropped by 56% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 3,532.28 | 2,453.49 | 1,255.49 |
| Total Income | 1,830.04 | 1,303.49 | 787.89 |
| Profit After Tax | -221.84 | -142.24 | -167.24 |
| EBITDA | 73.16 | 53.05 | -56.03 |
| NET Worth | 0.00 | 0.00 | 0.00 |
| Reserves and Surplus | 877.12 | 346.28 | -81.06 |
| Total Borrowing | 728.62 | 430.43 | 228.42 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | -34.53% |
| ROCE (Return on Capital Employed) | -3.67% |
| Debt/Equity | 0.80 |
| RoNW (Return on Net Worth) | -24.45% |
| PAT Margin (Profit After Tax Margin) | -12.53% |
| EBITDA Margin | 4.13% |
| Price to Book Value | 2.01 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 0.00 | 0.00 |
| P/E (x) | 0.00 | 0.00 |
| Promoter Holding | 18.28% | 16.07% |
Company Promoters
- Gaurav Singh Kushwaha is the promoter of the company.
Company Overview
BlueStone Jewellery and Lifestyle Limited manufactures and provides diamond, gold, platinum and studded jewellery under our flagship brand, BlueStone. The company has a pan-India presence with 275 stores across 117 cities in 26 States and Union Territories in India, as of March 31, 2025, servicing over 12,600 PIN codes across India.
As of March 31, 2025, the company's network of stores comprised 200 company-owned stores (“Company Stores”) and 75 franchisee stores (“Franchisee Stores”) with an aggregate area of over 605,000 square feet.
The company offers a wide range of product offerings including rings, earrings, necklaces, pendants, solitaires, bangles, bracelets and chains that cater to diverse customer segments and are retailed at varied price points. As of March 31, 2025, BlueStone had 91 collections (defined as a set of jewellery designs created with a specific theme) of jewellery products.
Company Strengths
- 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.
Use of Proceeds
| 1) | Funding our working capital requirements | 750.00 |
| 2) | General Corporate Purposes | 20.75 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
BlueStone Jewellery & Lifestyle IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Bluestone Jewellery and Lifestyle | -79.74 | -79.74 | 66.94 | 0.00 | -24.45 | 0.00 | - |
| Titan Company | 37.62 | 37.61 | 130.93 | 88.14 | 28.71 | 25.50 | Consolidated |
| Kalyan Jewellers India | 6.93 | 6.93 | 46.57 | 84.10 | 14.87 | 12.65 | Consolidated |
| Senco Gold | 10.09 | 10.08 | 120.37 | 31.17 | 8.09 | 2.62 | Standalone |
| Thangamayil Jewellery | 42.00 | 42.00 | 354.66 | 45.47 | 11.07 | 5.39 | Standalone |
| PC Jeweller | 1.13 | 0.66 | 9.46 | 22.70 | 9.33 | 1.67 | Standalone |
Quick Info
| Sector | Gems, Jewellery & Precious Metals |
| Exchange | NSE, BSE |
| Market Cap (Pre-IPO) | ₹7,823.26 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Aug 11, 2025 |
| IPO Close | Aug 13, 2025 |
| Allotment Date | Aug 14, 2025 |
| Credit to Demat | Aug 18, 2025 |
| Listing Date | Tentative: Aug 19, 2025 |
Lead Manager(s)
Axis Capital Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- BlueStone Jewellery IPO is a book build issue of ₹1,540.65 crores. The issue is a combination of fresh issue of 1.59 crore shares aggregating to ₹820.00 crores and offer for sale of 1.39 crore shares aggregating to ₹720.65 crores.
- BlueStone Jewellery IPO bidding started from Aug 11, 2025 and ended on Aug 13, 2025. The allotment for BlueStone Jewellery IPO was finalized on Aug 14, 2025. The shares got listed on BSE, NSE on Aug 19, 2025.
- BlueStone Jewellery IPO price band is set at ₹517.00 per share . The lot size for an application is 29. The minimum amount of investment required by an retail is ₹14,993 (29 shares) (based on upper price). The lot size investment for sNII is 14 lots (406 shares), amounting to ₹2,09,902, and for bNII, it is 67 lots (1,943 shares), amounting to ₹10,04,531.