StopDownOpen the app

Stake sale · Commerce & Consumer Brands

Accel and 360 ONE offload BlueStone shares via block deals

By ·

Date
Company
BlueStone
What it does
Omnichannel fine jewellery retailer
Kind
Stake sale
Amount
₹513 Cr
Based in
Bengaluru
Founded
2011
Sector
Commerce & Consumer Brands

What they do

BlueStone operates an omnichannel [selling through both online platforms and physical stores] retail network offering certified fine jewellery across India

What happened

Institutional investors Accel and 360 ONE sold a combined 61.98 lakh shares worth ₹513 crore through block deals [private share trades executed outside the…

Why it matters

Domestic mutual funds and international institutional investors acquired the shares, reflecting steady institutional appetite for the jewellery brand

The details

  • Institutional investors Accel and 360 ONE offloaded a cumulative 61.98 Lakh shares of BlueStone through multiple bulk and block deals on the BSE.
  • Accel sold 28 Lakh shares generating ₹231.7 Cr, while funds managed by 360 ONE disposed of nearly 34 Lakh shares for ₹281.3 Cr.
  • Each transaction was priced at ₹827.60 per share, marking a 3% premium over the stock closing price on that day.
  • The secondary share sale [existing shareholders sell their shares; no new money reaches the company] accounted for roughly 4% of the total equity in the company.
  • Domestic mutual funds and insurance providers including Mirae Asset Mutual Fund, Bajaj Life Insurance, SBI Life Insurance, and Nippon India Mutual Fund purchased the shares.
  • International buyers such as the Kuwait Investment Authority, Goldman Sachs, and Citigroup Global Markets Singapore also acquired stakes.
  • Following the transaction, Accel reduced its holdings further after previously holding a 10.1% stake at the end of June.

The bigger picture

  • This transaction marks the second instance this year where both venture capital backers have trimmed their holdings in the omnichannel jewellery brand.
  • Earlier in June, early investors including Accel, 360 ONE, and IvyCap Ventures sold 46.4 Lakh shares through open-market transactions.

About the business

  • BlueStone retails an extensive catalog of fine jewellery items including rings, earrings, pendants, mangalsutras, and gold coins.
  • The company operates an omnichannel retail model combining its online e-commerce platform with physical storefronts across various cities.
  • It runs 352 retail stores spread across 139 cities as of recent company disclosures.
  • Customers are provided certified products carrying hallmarks from recognized authorities like the Bureau of Indian Standards (BIS).
  • Revenue generation relies on direct retail sales of precious metals and gemstone ornaments through both digital and offline touchpoints.

The deal

Type
stake-sale

Investors

  • Accel (seller) — A global venture capital firm holding early equity in the company.
  • 360 ONE (seller) — An investment management and wealth firm previously holding an active stake.

Founders

  • Gaurav Singh Kushwaha, Founder and CEO
  • Vidya Nataraj, Co-founder

Other articles talking about it

Read it as a card in the app

More on BlueStone

Everything on BlueStone →

Same day

All startup news on 24 September 2026 →