BlueStone Jewellery is coming up with an IPO consisting of a fresh issue of shares worth INR 1,000 crore and an offer to sell 2.40 crore existing shares. The company aims to fund its working capital requirements and general corporate purposes. 

BlueStone Jewellery IPO – Important Dates 

BlueStone Jewellery IPO – Company Profile 

BlueStone Jewellery Limited, a digital-first DTC brand, offers diamond, gold, platinum, and studded jewellery through its website, app, and 203 stores across 86 cities, ensuring a seamless omnichannel customer experience. 

With integrated online and offline channels, BlueStone Jewellery Limited ensures seamless delivery options, operational control over franchisee stores, and in-person customer interactions to enhance engagement, brand visibility, and personalized shopping experiences. 

Focusing on design-centric customers, BlueStone Jewellery Limited leverages data-driven insights, automated merchandising, and an in-house design team to offer 95 collections, trendy products, real-time demand tracking, and innovative jewellery options. 

BlueStone Jewellery IPO Fundamental Analysis 

BlueStone Jewellery Limited’s financial analysis reveals a mixed performance. Revenue has consistently grown, with increased profitability and EPS, while equity and liabilities reflect expansion. However, the inventory turnover ratio suggests slower sales or inventory inefficiency. 

• Revenue Trend: The revenue increased from ₹4,613.58 millions in March 2022 to ₹7,707.26 millions in March 2023. The revenue for the current year’s 3-month period ending June 2024 is INR 3,482.44 million. 
• Equity and Liabilities: Equities have shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has increased, indicating rising reliance on debt financing.  
• Profitability: The profit after tax (PAT) has significantly increased from ₹(12,684.09) million in March 2022 to ₹(592.21) million by June 2024. This improvement in profitability could be a source of confidence among investors. 
• Earnings per Share (EPS): The diluted EPS has risen from ₹(698.77) in March 2022 to ₹(32.56) by June 2024, reflecting higher earnings per share for investors. 
• Return on Net Worth (RoNW): The RoNW for the period 30 June 2024 is (18.27) million. 
• Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has increased, indicating strengthening liquidity and potential challenges in meeting short-term obligations. 
• Inventory Turnover Ratio: There’s a significant decrease in the Inventory Turnover   Ratio, which might suggest slower sales or inefficient inventory management. 

BlueStone Jewellery IPO Financial Analysis 

BlueStone Jewellery IPO Peer Comparison 

Bluestone Jewellery and Lifestyle Limited has negative EPS and RoNW, reflecting lower profitability than competitors like Titan, Kalyan Jewellers, and Senco Gold, which demonstrate more substantial earnings, higher P/E ratios, and positive financial metrics. 

BlueStone Jewellery IPO Objective 

The main objective of BlueStone Jewellery is to fund their working capital requirements. 

1. Funding their working capital requirements: The company intends to utilize INR 88.12 crores in working capital facilities and INR 509.11 crores in non-convertible debentures, alongside additional working capital for inventory replenishment and store expansion to support growth targets. 

2. General corporate purpose: The company will deploy funds for general corporate purposes, including setting up stores, loan repayment, strategic initiatives, acquisitions, franchisee liabilities, operational expenses, taxes, and other business-related purposes. 

BlueStone Jewellery IPO Risks And Challenges 

BlueStone Jewellery’s risk includes potential challenges in fully embracing an omnichannel model, maintaining brand image amid negative publicity, and misjudging customer preferences, which could lead to excess inventory, markdowns, and brand perception issues. 

• The company emphasizes an omnichannel experience across digital platforms and physical stores, but if customers and retailers don’t fully embrace this model or if market trends aren’t addressed in a timely manner, business growth could be negatively impacted. 

• The company’s success relies on maintaining its brand image, “BlueStone,” through marketing efforts. Adverse publicity, product issues, fraud, or poor customer experiences could impact brand perception, customer retention, and overall business performance. 

• The company’s sales depend on accurately predicting customer preferences and trends. Misjudging demand, failing to innovate, or delays in product launches may lead to excess inventory, markdowns, losses from melting raw materials, and brand impact. 

BlueStone Jewellery IPO – Industry & Market Potential 

The global jewellery market, valued at ₹ 24,900 billion (USD 302 billion) in 2023, is projected to grow, driven by technology integration, rising incomes, and e-commerce. Diamonds and gold account for 70-80% of the market, with the top markets being China, the US, and India. 

India’s jewellery market has grown at a 12-14% CAGR, reaching ₹5,562 billion in 2023. Driven by weddings, strong exports, and the popularity of lab-grown diamonds, it is projected to reach ₹9,900 billion by 2028. 

The occasion-led jewellery segment, valued at ₹ 556 billion (USD 7 billion) in 2023, is projected to grow at a CAGR of 20-22% between 2023 and 2028, reaching ₹ 1,400 billion to ₹ 1,500 billion, driven by design, affordability, and repeat purchases. 

BlueStone Jewellery IPO – Type of Offer 

BlueStone Jewellery Limited plans a fresh issue of shares, seeking INR 1,000 crores to fund their working capital requirements and general corporate purposes. Additionally, the company proposes an offer to sell 2.40 crore existing shares. 

1. Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 1,000 crores. The company intends to utilize the proceeds from the fresh issue to fund its working capital requirements and general corporate purposes.
2. Offer for sale: BlueStone Jewellery Limited is offering to sell 2.40 crore existing shares. The following are the details of the existing shareholders who are also the promoters selling the shares:

BlueStone Jewellery IPO Offer Size 

The offer size of BlueStone Jewellery is yet to be announced, consisting of a fresh issue of shares worth INR 1,000 crore and an offer to sell 2.40 crore existing shares. The company aims to fund its working capital requirements and general corporate purposes. 

BlueStone Jewellery IPO Allotment Structure 

BlueStone Jewellery Limited’s allocation will be as follows: 75% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 10% for Retail Individual Investors (RII) according to SEBI regulations. 

● Qualified Institutional Buyers (QIB): As per SEBI regulations, 75% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.

● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.

● Retail Individual Investors (RII): The remaining 10% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs. 

How to apply for BlueStone Jewellery IPO?

To apply for the BlueStone Jewellery Limited IPO through Alice Blue, follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

1. Check for IPO Details: Once your account is active, you can check for the BlueStone Jewellery Limited IPO details in the IPO section of the Alice Blue platform.
2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
3. Submit the Application: Confirm all your details and submit your application.

 You can apply for the BlueStone Jewellery Limited IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How do you check BlueStone Jewellery IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the BlueStone Jewellery Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the BlueStone Jewellery Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

 If you face any issues, we request you reach out to our customer support team at Alice Blue for detailed assistance. 

 Apart from Alice Blue, there are other ways to check the allotment status of the BlueStone Jewellery Limited IPO:

● Registrar’s Website: Visit the website of KFin Technologies Limited, the registrar of the BlueStone Jewellery Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status. 

● BSE NSE: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) National Stock Exchange (NSE). You would need your application number and PAN to check the status. 

Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.

BlueStone Jewellery Ltd IPO Offer Registrar

The registrar for the BlueStone Jewellery Limited IPO is KFin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar: 

KFin Technologies Limited Selenium,

Tower-B, Plot No. 31 and 32 Financial

District Nanakramguda, Serilingampally

Hyderabad 500 032 Telangana, India

Tel: +91 40 6716 2222

E-mail: [email protected]

Website: www.kfintech.com 

BlueStone Jewellery IPO – FAQs