BlueStone Jewellery & Lifestyle Ltd., a trailblazer in India’s digital jewellery space, is stepping into the stock market spotlight with its much-awaited IPO. If you’re considering an investment or simply want to understand one of India’s most high-profile public issues this year, this simple, thorough guide covers everything—IPO dates, price band, how BlueStone stacks up, and things investors should watch out for.
Key BlueStone Jewellery IPO Details
- IPO Open: August 11, 2025
- IPO Close: August 13, 2025
- Price Band: ₹492 – ₹517 per share
- Face Value: ₹1 per equity share
- Lot Size: 29 shares (Minimum investment: ₹14,993)
- Total Issue Size: ₹1,540.65 crore
- Fresh Issue: ₹820 crore
- Offer for Sale (OFS): ₹720.65 crore
- Listing Date: August 19, 2025 (BSE & NSE)
- Registrar: KFin Technologies
- Lead Managers: Axis Capital, Kotak Mahindra Capital, IIFL Capital
About BlueStone Jewellery & Lifestyle Ltd.
Founded in 2011, BlueStone is now a top omni-channel jewellery brand in India. With over 275 stores in 117 cities, and a broad online and offline presence, the company offers contemporary gold, diamond, platinum, and studded jewellery for modern Indian consumers. Their strategy is digital-first, blending e-commerce convenience with in-store experiences across metros and tier-2 and tier-3 cities.
Key Highlights:
- Pan-India Network: Over 275 stores as of March 2025
- Products: Rings, necklaces, solitaires, bangles, bracelets, and more, across 91 curated collections
- Customers: Focused on ages 25–45, appealing to new-age, style-conscious buyers
- Backers: Backed by big investors such as Accel, Kalaari Capital, IvyCap Ventures, and Ranjan Pai
Why This IPO Stands Out
- Rising Digital Brand: Second-largest digital jewellery retailer in India by revenue (FY24), with a strong “online-to-offline” strategy
- High Growth: Rapid expansion of stores and product range; growing delivery to over 12,600 PIN codes
- Tech-Driven: Own ERP and supply chain systems; invested in data-driven design and sales operations
BlueStone’s Financial Performance
- Revenue: Double-digit growth rate in the past three years due to strong consumer demand and expansion.
- Profitability: Still in a loss phase (PAT for FY25 was -₹221.84 crore), as BlueStone focuses on scale and expansion over immediate profits.
- Valuation: The IPO aims for a post-issue valuation near ₹7,823 crore, placing it among the top players in India’s branded jewellery space.
Strengths
- Wide product variety, updated frequently for different styles and price points
- Strong brand recall, rising especially in urban and millennial segments
- Early mover advantage with a blend of digital and physical presence
- Marquee institutional backers
Risks & Considerations
- Consistent Losses: Still recording net losses due to investment in growth/expansion—investors must have a long-term horizon
- High Valuation: Valuations are above sector averages, factoring in optimism for future profitability
- Competitive Market: Faces strong competition from Titan, Tanishq, and other national and local jewellers
- Reliance on Expansion: Success depends on continued store and market expansion
How to Apply for the BlueStone IPO
Investors can apply through:
- Their bank’s net banking (ASBA)
- Trading apps or broker platforms (with UPI)
Fill in your bid within the price band and select your lot size before the deadline on August 13, 2025.
Important BlueStone IPO Dates
| Event | Date |
|---|---|
| Open/Close | Aug 11–13, 2025 |
| Allotment Finalisation | Aug 14, 2025 |
| Refunds/Unblock | Aug 18, 2025 |
| Shares Credited | Aug 18, 2025 |
| Listing | Aug 19, 2025 |
Listing Outlook & Grey Market Premium
Early market reports show a healthy grey market premium (GMP) of ₹35–₹50 per share, signaling optimism. However, GMP is not official—actual listing gains will depend on market dynamics.
Should You Invest?
BlueStone’s IPO brings a strong brand and attractive long-term growth, but short-term gains aren’t guaranteed. Risk-tolerant, long-term investors may want to look at the bigger picture—digital transformation, revenue growth, and potential for future profitability—while being aware of losses and tough competition.