BlueStone Jewellery & Lifestyle Limited is launching an IPO with a total offering of 2,97,99,798 equity shares, each with a face value of ₹1. This includes a fresh issue of 1,58,60,735 equity shares of face value ₹1/- each, and an offer for sale of 1,39,39,063 equity shares of face value ₹1/- each. The company plans to use the funds raised to fund the working capital requirements and support general corporate purposes.

BlueStone Jewellery & Lifestyle Ltd IPO – Important Dates

BlueStone Jewellery & Lifestyle Ltd IPO Date	August 11, 2025, to August 13, 2025.
BlueStone Jewellery & Lifestyle Ltd IPO Listing Date	August 19, 2025
BlueStone Jewellery & Lifestyle Ltd IPO Price	₹492 to ₹517 per share
BlueStone Jewellery & Lifestyle Ltd IPO Lot Size	29 Shares
BlueStone Jewellery & Lifestyle Ltd IPO Total Issue Size	2,97,99,798 shares
BlueStone Jewellery & Lifestyle Ltd IPO Basis of Allotment	August 14, 2025
BlueStone Jewellery & Lifestyle Ltd IPO Initiation of Refunds	August 18, 2025
BlueStone Jewellery & Lifestyle Ltd IPO Credit of Shares to Demat	August 18, 2025
BlueStone Jewellery & Lifestyle Ltd IPO Issue Type	Bookbuilding IPO
BlueStone Jewellery & Lifestyle Ltd IPO Listing At	BSE, NSE

BlueStone Jewellery & Lifestyle Ltd IPO – Company Profile

BlueStone Jewellery and Lifestyle Limited, founded in 2011 and headquartered in Bengaluru, is India’s second-largest digital-first omni-channel jewellery brand by FY24 revenue. The company designs, manufactures, and retails diamond, gold, platinum, and studded jewellery under the BlueStone brand. As of March 31, 2025, it operated 275 stores across 117 cities in 26 States and Union Territories, comprising 200 company-owned and 75 franchisee outlets.

BlueStone offers over 7,400 unique designs across 91 themed collections catering to daily wear, wedding, and special occasions. Its product range includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains, sold via its website, mobile app, and retail stores. The brand targets customers aged 25 to 45 who value modern, design-led jewellery, with social media, influencer marketing, and targeted advertising serving as its primary discovery channels.

The company operates three integrated manufacturing facilities in Mumbai, Jaipur, and Surat, with a total installed capacity of 2,872 kg and an average utilisation of 86% in FY25. Backed by marquee investors and led by an experienced founder-driven team, BlueStone’s competitive strengths include advanced manufacturing, in-house technology, and a pan-India omni-channel presence. 

BlueStone Jewellery & Lifestyle Ltd IPO Fundamental Analysis 

BlueStone Jewellery & Lifestyle Limited’s financial analysis reveals a growing performance. Revenue has increased, but at the same time, the company’s losses have increased significantly compared to the previous year. There is a slight decrease in the EPS, and an increase in the RoNW, along with asset growth and rising liabilities, indicating potential operational efficiency.

• Revenue Trend: The revenue has increased from ₹12,658.39 millions in March 2024 to ₹17,700.02 millions in March 2025.
• Equity and Liabilities: Equities have shown a consistent increase over the periods, reflecting potential growth and expansion. 
• Profitability: The profit after tax (PAT) has declined sharply, with the company’s loss increasing from ₹1,422.36 million in March 2024 to ₹2,218.37 million in March 2025.
• Earnings per Share (EPS): The basic EPS has fallen from ₹(78.36) in March 2024 to ₹(79.74) in March 2025, indicating a further decline in earnings per share for investors. 
• Return on Net Worth (RoNW): The RoNW has increased from (38.01)% to (24.45)%, indicating an increase in the company’s ability to generate returns on shareholder equity. 
• Financial Position: Total assets have increased, suggesting business expansion. Also, the current ratio has increased, indicating an increase in the ability to meet short-term obligations compared to the previous year.

BlueStone Jewellery & Lifestyle Ltd IPO Financial Analysis

Particular	As of 31 March 2023	As of 31 March 2024	As of 31 March 2025
Revenue From Operations (₹ in million)	7,707.26	12,658.39	17,700.02
Total Income (₹ in million)	7,878.94	13,034.91	18,300.36
EBITDA (₹in million)	(560.34)	530.49	731.64
EBITDA Margin (%)	(7.27)	4.19	4.13
Restated Profit After Tax for the year/period (₹ in million)	(1,672.44)	(1,422.36)	(2,218.37)
Earnings per Share (EPS)	(92.14)	(78.36)	(79.74)
Return on Net Worth (%)	N.A.	(38.01)	(24.45)
Return on Capital Employed (%)	(31.16)	(3.39)	(3.67)
Debt-Equity Ratio	( 8.37)	2.46	1.68
Current Ratio	0.92	0.94	1.25

BlueStone Jewellery & Lifestyle Ltd IPO Peer Comparison

Bluestone Jewellery and Lifestyle Limited reports a negative earnings per share and return on net worth, indicating financial challenges despite notable revenue generation. Titan Company Limited demonstrates strong performance with a high P/E ratio, robust EPS, and healthy RoNW. Kalyan Jewellers India Limited shows moderate profitability with balanced returns. Senco Gold Limited maintains steady earnings and shareholder returns. Thangamayil Jewellery Ltd leads in NAV per equity share with strong EPS performance. PC Jeweller Limited posts modest returns and earnings, reflecting a weaker financial position compared to its peers

Name of the Company	Revenue from Operation (₹ in Million)	Face Value (₹)	P/E Ratio	EPS (₹)	RoNW (%)	NAV per Equity Share (₹)
Bluestone Jewellery and Lifestyle Limited	17,700.02	1	–	-79.74	-24.45	257.35
Titan Company Limited	6,04,560.00	1	88.14	37.62	28.71	130.93
Kalyan Jewellers India Limited	2,50,450.66	10	84.16	6.93	14.87	46.57
Senco Gold Limited	63,280.72	5	31.17	10.09	8.09	120.37
Thangamayil Jewellery Ltd	49,105.80	10	45.47	42	10.77	354.66
PC Jeweller Limited	22,446.00	1	22.76	1.13	9.33	9.46

BlueStone Jewellery & Lifestyle Ltd IPO Objective

The main objective of BlueStone Jewellery & Lifestyle Ltd is to utilise the Net Proceeds from the Issue to fund the working capital requirements and support general corporate purposes.

1. To fund the company’s working capital requirements: The company uses working capital mainly for replenishing bullion, diamonds, and gemstones across its stores, warehouses, and factories, and with planned expansion, these needs are set to grow. To support this, BlueStone will allocate ₹7,500 million from the IPO gross proceeds to fund its working capital requirements for Fiscal 2026..

2. To meet general corporate requirements: The Company proposes to deploy the balance proceeds towards general corporate purposes as approved by its management from time to time, subject to such utilisation not exceeding 25% of the gross proceeds of the Fresh Issue, in compliance with the SEBI ICDR Regulations.

BlueStone Jewellery & Lifestyle Ltd IPO Risks And Challenges

BlueStone Jewellery & Lifestyle Limited faces risks such as seasonal demand fluctuations, continuous losses since inception, persistent negative operating cash flows, and under-utilised manufacturing capacity, all of which threaten its financial stability, operational efficiency, and growth potential.

• The company has incurred continuous losses since its inception, with negative net worth reported in Fiscal 2023, which could impact its financial stability.

• Seasonal demand variations affect quarterly financial performance and operational efficiency.

• Recent years show substantial negative cash flows from operations, which could affect the business operations and growth.

• Inefficient use of production capacity could limit their profitability and growth potential.

BlueStone Jewellery & Lifestyle Ltd IPO – Industry & Market Potential

The global jewellery market was valued at ₹5,562 billion (USD 67 billion) in 2023, with India’s market projected to nearly double to ₹9,800 to 9,900 billion by 2028, growing at an 11–13% CAGR. Growth is driven by rising incomes, shifting consumer preferences toward everyday wear, greater participation of financially independent women, and supportive policies like 100% FDI and BIS hallmarking.

India’s online jewellery segment grew 80% from 2021 to 2023 to ₹306 billion (USD 4 billion) and is expected to grow at a 28–30% CAGR. The omnichannel model is gaining traction, with online-influenced offline purchases rising from 39% in 2018 to 60% in 2023.

BlueStone, the second-largest digital-first omnichannel jewellery brand in India, holds a 26–30% share in the casual jewellery market. It operates 275 stores across 117 cities, supported by a strong online presence, ‘Try-at-Home’ service, and in-house manufacturing capabilities, positioning it for continued growth.

BlueStone Jewellery & Lifestyle Ltd IPO – Type of Offer

BlueStone Jewellery & Lifestyle Limited plans to issue 2,97,99,798 equity shares of face value ₹1/- each, which includes fresh issue of 1,58,60,735 equity shares of face value ₹1/- each and an offer for sale of 1,39,39,063 equity shares of face value ₹1/- each to fund its working capital and meet general corporate requirements. 

1. Fresh Issue: The company will issue 1,58,60,735 new shares of face value ₹1/- each new share to raise capital. The company intends to utilise the proceeds from the fresh issue to fund its working capital and meet general corporate requirements.

2. Offer for sale: BlueStone Jewellery & Lifestyle Limited is offering to sell 1,39,39,063 existing shares of face value ₹1/-. The following are the details of the existing shareholders who are also the promoters selling the shares:

Name of the promoter selling shareholder

Accel India III (Mauritius) Ltd

Saama Capital II, Ltd.

Kalaari Capital Partners II, LLC

Kalaari Capital Partners Opportunity Fund, LLC

Iron Pillar Fund I Ltd

Iron Pillar India Fund I

Sunil Kant Munjal (and other partners of HeroEnterprise Partner Ventures)

BlueStone Jewellery & Lifestyle Ltd IPO Offer Size

The offer size of BlueStone Jewellery & Lifestyle Limited IPO is 2,97,99,798 equity shares, each with a face value of ₹1. This includes a fresh issue of 1,58,60,735 shares, and an offer for sale of 1,39,39,063 shares. The company plans to utilise the Net Proceeds to finance working capital needs and cater to general corporate purposes.

BlueStone Jewellery & Lifestyle Ltd IPO Allotment Structure

BlueStone Jewellery & Lifestyle Ltd 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 the BlueStone Jewellery & Lifestyle Ltd IPO?

To apply for the BlueStone Jewellery & Lifestyle 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 & Lifestyle 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 & Lifestyle 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 & Lifestyle Ltd 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 & Lifestyle 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 & Lifestyle 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 to 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 & Lifestyle Limited IPO:

● Registrar’s Website: Visit the website of KFin Technologies Limited, the registrar of the BlueStone Jewellery & Lifestyle 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) and the 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 & Lifestyle Ltd IPO Offer Registrar

The registrar for the BlueStone Jewellery & Lifestyle 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.

Tel.: +91 40 6716 2222

Email: [email protected]

BlueStone Jewellery & Lifestyle Ltd IPO – FAQs

Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.