IPO · Commerce & Consumer Brands
BlueStone Jewellery launches initial public offering to raise ₹1,541 crore
By Startup Enthusiast ·
- Date
- Company
- BlueStone
- What it does
- Omnichannel fine jewellery retailer
- Kind
- IPO
- Amount
- ₹1,541 Cr
- Stage
- IPO
- Based in
- Bengaluru
- Founded
- 2011
What they do
BlueStone Jewellery and Lifestyle operates an omnichannel fine jewellery retail brand with a network of physical stores and online platforms across India
What happened
The company launched an initial public offering to raise up to ₹1,541 crore through a combination of a fresh issue and an offer for sale
Why it matters
The public issue includes a fresh equity issuance of ₹820 crore alongside secondary share sales by existing institutional investors and backers
The details
- Omnichannel jewellery retailer BlueStone launched its initial public offering to raise a total of ₹1,541 crore.
- The public issue comprises a fresh capital raise of ₹820 crore and an offer for sale of 1.39 crore shares by existing shareholders.
- The price band for the initial share sale was set between ₹492 and ₹517 per equity share with a minimum lot size of 29 shares.
- Ahead of the public subscription opening, the company raised ₹693 crore from anchor investors by allotting shares at the upper price band.
- Selling shareholders participating in the offer for sale include Accel India III, Saama Capital II, Kalaari Capital Partners, Iron Pillar funds, and Sunil Kant Munjal.
- Net proceeds from the fresh issue will be utilized to fund working capital requirements amounting to ₹750 crore and for general corporate purposes.
- Book-running lead managers appointed for the public issue include Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company.
The bigger picture
- Investor interest in the Indian jewellery retail sector has risen significantly following major industry consolidation and large-scale acquisitions in the market.
- The company experienced rapid revenue growth alongside expanding retail store counts across multiple cities in India over preceding fiscal years.
About the business
- BlueStone operates a digital-first and omnichannel fine jewellery retail business offering diamond, gold, platinum, and gemstone studded products.
- The product catalog includes rings, earrings, pendants, necklaces, bangles, bracelets, mangalsutras, and solitaires across numerous collections.
- As of March 2025, the company maintained a retail footprint of 275 stores across 117 cities spanning multiple states and union territories in India.
- Manufacturing operations include in-house production facilities located in Mumbai, Jaipur, and Surat where a substantial portion of the jewellery is crafted.
- Revenue generation occurs through both online e-commerce transactions on its digital platform and offline sales via company-owned and franchise-operated retail stores.
What happens next
- Proceeds of ₹750 crore from the fresh issue will be allocated toward meeting working capital requirements.
- Remaining net proceeds will be deployed for general corporate purposes and ongoing business expansion.
The deal
- Type
- ipo
Founders
- Gaurav Singh Kushwaha, Founder and CEO
Other articles talking about it
More on BlueStone
- Accel and 360 ONE offload BlueStone shares via block deals24 September 2026 · Stake sale · ₹513 Cr
- Amit Jain joins BlueStone as non-executive director16 September 2026 · People
- BlueStone, SafeGold launch gold monetisation service29 July 2026 · Partnership
- BlueStone reports maiden profit after public market debut24 July 2026 · IPO · Rs 1,540 crore
- BlueStone posts profit as stock rallies on strong growth21 July 2026 · Results
- BlueStone plans to double store count by 203013 July 2026 · Launch
- BlueStone posts first annual profit in FY2622 June 2026 · Results
- Investors offload BlueStone shares worth ₹242.8 Cr10 June 2026 · Stake sale · ₹242.8 Cr