BlueStone Jewellery IPO Description – BlueStone Jewellery is a leading digital-first, direct-to-consumer (DTC) jewellery brand in India, offering contemporary lifestyle diamond, gold, platinum, and studded jewellery under its flagship brand. Launched in 2011, the company has grown to become the second-largest digital-first omni-channel jewellery brand in India by revenue in Fiscal 2024. As of 31 March 2025, BlueStone operates 275 stores across 117 cities in 26 states and union territories, supported by a robust online presence through its website and mobile applications, servicing over 12,600 PIN codes nationwide.
The company recorded 298.87 million unique online sessions in Fiscal 2025, reflecting strong digital engagement. Its extensive portfolio includes over 7,400 designs and 91 themed collections, catering to men, women, and couples aged 25–45. The brand focuses on design innovation, supported by 23 in-house designers and a dedicated prototype facility in Mumbai.
BlueStone manufactures over 75% of its products in-house across three facilities in Mumbai, Jaipur, and Surat, ensuring quality control and rapid time-to-market. With a workforce of 1,943 full-time employees, the company operates 200 company-owned stores and 75 franchisee stores (fully managed by the company), covering more than 605,000 sq. ft. BlueStone stands among India’s top five jewellery retailers in terms of design variety.
Promoters of BlueStone Jewellery – Gaurav Singh Kushwaha
Table of Contents
BlueStone Jewellery IPO Details
| BlueStone Jewellery IPO Dates | 11 – 13 August 2025 |
| BlueStone Jewellery IPO Price | INR 492 – 517 per share |
| Fresh issue | INR 820 crore |
| Offer For Sale | 1,39,39,063 shares (INR 685.80 – 720.65 crore) |
| Total IPO size | INR 1,505.80 – 1,540.65 crore |
| Minimum bid (lot size) | 29 shares (INR 14,993) |
| Face Value | INR 1 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
BlueStone Jewellery Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 770.73 | 1,265.84 | 1,770.00 |
| Expenses | 955.14 | 1,445.73 | 2,049.93 |
| Net income | (167.24) | (142.24) | (221.84) |
| Margin (%) | (21.70) | (11.24) | (12.53) |
BlueStone Jewellery Offer News
- BlueStone Jewellery RHP
- BlueStone Jewellery DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
BlueStone Jewellery Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue)* | |
| EPS | (92.14) | (78.36) | (79.74) | (14.66) |
| PE Ratio | – | – | – | – |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | NA | (38.01) | (24.45) |
| NAV | (39.57) | 206.13 | 66.94 |
| ROCE (%) | (31.16) | (3.39) | (3.67) |
| EBITDA (%) | (7.27) | 4.19 | 4.13 |
| Debt/Equity | NA | 1.15 | 0.80 |
BlueStone Jewellery IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 15 August 2025 | 4 | – | – |
| 14 August 2025 | 10 | – | 200 |
| 13 August 2025 | 10 | – | 200 |
| 12 August 2025 | 12 | – | 250 |
| 11 August 2025 | 12 | – | 250 |
| 8 August 2025 | 20 | – | 600 |
| 7 August 2025 | 35 | – | 800 |
BlueStone Jewellery IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding its working capital requirements – INR 750 crore
- General corporate purposes
BlueStone Jewellery IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 88,62,990 | 45,90,859 | 30,60,572 | 1,65,14,421 |
| 13 Aug 2025 | 4.28 | 0.55 | 1.35 | 2.70 |
| 12 Aug 2025 | 0.85 | 0.23 | 0.73 | 0.65 |
| 11 Aug 2025 | 0.57 | 0.04 | 0.38 | 0.39 |
1,34,09,910 shares allotted to anchor investors are not included in these calculations.
BlueStone Jewellery – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| BlueStone Jewellery | – | (79.74) | (24.45) | 66.94 | 1,700.00 |
| Titan Company | 88.14 | 37.61 | 28.71 | 130.93 | 60,456.00 |
| Kalyan Jewellers | 84.10 | 6.93 | 14.87 | 46.57 | 25,045.07 |
| Senco Gold | 31.17 | 10.08 | 8.09 | 120.37 | 6,328.07 |
BlueStone Jewellery IPO Allotment Status
BlueStone Jewellery IPO allotment status is now available on the KFin Tech website. Click on this link to get the allotment status.
BlueStone Jewellery IPO Dates & Listing Performance
| IPO Opening Date | 11 August 2025 |
| IPO Closing Date | 13 August 2025 |
| Finalization of Basis of Allotment | 14 August 2025 |
| Initiation of refunds | 18 August 2025 |
| Transfer of shares to demat accounts | 18 August 2025 |
| BlueStone Jewellery IPO Listing Date | 19 August 2025 |
| Opening Price on NSE | INR 510 per share (down 1.35%) |
| Closing Price on NSE | INR 546 per share (up 5.61%) |
BlueStone Jewellery IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Antique Stock Broking –
Ajcon Global –
Arihant Capital –
Axis Capital – Not rated
Ashika Research –
BP Wealth – Avoid
Capital Market – Avoid
Canara Bank Securities –
Choice Broking –
Dalal & Broacha –
Elara Capital –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities – Subscribe for long term
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities –
Jainam Broking – Avoid
KR Choksey –
LKP Research –
Marwadi Financial – Avoid
Motilal Oswal –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Avoid
SBI Securities – Subscribe for long term
SMC Global – 2/5
SMIFS –
Systematix Research –
Swastika Investmart –
Ventura Securities – Subscribe
BlueStone Jewellery Offer Lead Manager
AXIS CAPITAL LIMITED
1st Floor, Axis House C-2 Wadia International Center
Pandurang Budhkar Marg, Worli, Mumbai – 400 025
Phone: +91 22 4325 2183
Email: [email protected]
Website: www.axiscapital.co.in
BlueStone Jewellery Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222/ 1800 309 4001
E-mail: [email protected]
Website: www.kfintech.com
BlueStone Jewellery Contact Details
BLUESTONE JEWELLERY AND LIFESTYLE LIMITED
302, Dhantak Plaza, Makwana Road, Marol,
Andheri (East) Mumbai- 400 059, Maharashtra, India
Phone: +91 22 4515 2729
Email: [email protected]
Website: www.bluestone.com
BlueStone Jewellery IPO FAQs
How many shares in the BlueStone Jewellery IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply for the BlueStone Jewellery Public Offer?
The best way to apply for the BlueStone Jewellery public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is BlueStone Jewellery IPO GMP today?
BlueStone Jewellery IPO GMP today is INR 4 per share.
What is the BlueStone Jewellery kostak rate today?
BlueStone Jewellery kostak rate today is INR NA per application.
What is BlueStone Jewellery Subject to Sauda rate today?
BlueStone Jewellery Subject to Sauda rate today is INR NA per application.